# EDGAR Filing Document

**Accession Number:** 0001490349
**File Stem:** 0001213900-25-055721
**Filing Date:** 2025-6
**Character Count:** 13207
**Document Hash:** 9886ae275580429662f89ee8f8ff068a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-055721.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001213900-25-055721

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PhenixFIN Corp
- **CENTRAL INDEX KEY:** 0001490349

**ORGANIZATION NAME:**
- **EIN:** 274576073
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-86732
- **FILM NUMBER:** 251058175

**BUSINESS ADDRESS:**
- **STREET 1:** 445 PARK AVENUE
- **STREET 2:** 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-759-0777

**MAIL ADDRESS:**
- **STREET 1:** 445 PARK AVENUE
- **STREET 2:** 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Medley Capital Corp
- **DATE OF NAME CHANGE:** 20110118

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Medley Capital BDC LLC
- **DATE OF NAME CHANGE:** 20100426
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lorber David A
- **CENTRAL INDEX KEY:** 0001358538

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** C/O FRONTFOUR CAPITAL GROUP LLC
- **STREET 2:** 35 MASON STREET, 4TH FLOOR
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

## Exhibit 99.1

**Exhibit 99.1**

**<u>Schedule 5(c)</u>**

The Reporting Persons engaged in the following transactions in the last 60 days:

● 6/16/2025 – David Lorber purchased 700 shares of Common Stock at a price of $47.9098 per share<sup>1</sup>

● 6/18/2025 – David Lorber purchased 300 shares of Common Stock at a price of $49.563 per share<sup>2</sup>

(1) The reported price is a weighted average price. These
shares were purchased in multiple transactions at prices ranging from $47.85 to $47.92, inclusive. The Reporting Persons undertake to
provide the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information
regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

(2) The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $49.15
to $49.77, inclusive. The Reporting Persons undertake to provide the Company, any security holder of the Company or the staff of the Securities
and Exchange Commission, upon request, full information regarding the number of shares traded at each separate price within the ranges
set forth in this footnote.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**PhenixFIN Corp**

*(Name of Issuer)*

**Common Stock**

*(Title of Class of Securities)*

**71742W103**

*(CUSIP Number)*

**David Lorber**<br>445 Park Avenue, 10th Floor<br>New York NY 10022<br>(212) 859-0390

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/16/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **71742W103** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**David A. Lorber** | Name of reporting person<br>**David A. Lorber** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**143145.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**85040.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**143145.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**85040.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**228185.00** | Aggregate amount beneficially owned by each reporting person<br>**228185.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.3%** | Percent of class represented by amount in Row (11)<br>**11.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Based on 2,019,778 common shares outstanding as of May 6, 2025 as reported by the issuer in the Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025.

| **CUSIP No.** | **71742W103** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**FrontFour Master Fund, Ltd.** | Name of reporting person<br>**FrontFour Master Fund, Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**81662.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**81662.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**81662.00** | Aggregate amount beneficially owned by each reporting person<br>**81662.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.0%** | Percent of class represented by amount in Row (11)<br>**4.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Based on 2,019,778 common shares outstanding as of May 6, 2025 as reported by the issuer in the Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025.

| **CUSIP No.** | **71742W103** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**FrontFour Capital Group LLC** | Name of reporting person<br>**FrontFour Capital Group LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**81662.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**81662.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**81662.00** | Aggregate amount beneficially owned by each reporting person<br>**81662.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.0%** | Percent of class represented by amount in Row (11)<br>**4.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

**Comment for Reporting Person:** Based on 2,019,778 common shares outstanding as of May 6, 2025 as reported by the issuer in the Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock

**(b) Name of Issuer:**
PhenixFIN Corp

**(c) Address of Issuer's Principal Executive Offices:**
445 PARK AVENUE, 10TH FLOOR, NEW YORK, NY, 10022

This Amendment No. 4 amends the Schedule 13D originally filed with the U.S. Securities and Exchange Commission ("SEC") on December 20, 2021, and amended by Amendment No. 1 filed with the SEC on May 16, 2022, Amendment No. 2 filed with the SEC on January 3, 2023, and Amendment No. 3 filed with the SEC on March 5, 2024 by David A. Lorber, FrontFour Master Fund, Ltd. and FrontFour Capital Group LLC (collectively, the "Reporting Persons"), with respect to the common stock (the "Common Stock") of PhenixFIN Corporation (the "Company").

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of the date hereof, the Master Fund beneficially owned 81,662.416 shares of Common Stock, Mr. Lorber beneficially owned directly 143,145 shares of Common Stock, and Mr. Lorber was deemed to beneficially own 3,378 shares of Common Stock in his spouse's IRA, constituting approximately 4.0%, 7.1% and less than 1%, respectively, of the shares of Common Stock outstanding.

Mr. Lorber, as a managing member and principal owner of FrontFour Capital, may be deemed to beneficially own the 81,662.416 shares of Common Stock beneficially owned by the Master Fund, which, together with the 143,145 shares of Common Stock he beneficially owns directly and 3,378 shares of Common Stock of which he is deemed to have beneficial ownership, constitute approximately 11.3% of the Common Stock outstanding.

**(b)**
Mr. Lorber has the sole power to vote or dispose of 143,145 shares of Common Stock beneficially owned by him and the shared power to vote or dispose of 3,378 shares of Common Stock held in his spouse's IRA.

By reason of his responsibility for the supervision and conduct of investment activities of the Master Fund and as managing member and principal owner of FrontFour Capital, Mr. Lorber may be deemed to possess the shared power to vote and dispose of the shares of Common Stock beneficially owned by the Master Fund.

By reason of its responsibility for the supervision and conduct of investment activities of the Master Fund as its investment manager, FrontFour Capital may be deemed to possess the sole power to vote and dispose of the shares of Common Stock beneficially owned by the Master Fund.

**(c)**
Attached as Schedule 5(c).

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** David A. Lorber

**Signature:** /s/ David A. Lorber

**Name/Title:** David A. Lorber

**Date:** 06/18/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** FrontFour Master Fund, Ltd.

**Signature:** /s/ David A. Lorber

**Name/Title:** David A. Lorber/Managing Member

**Date:** 06/18/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** FrontFour Capital Group LLC

**Signature:** /s/ David A. Lorber

**Name/Title:** David A. Lorber/Managing Member

**Date:** 06/18/2025