Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

v3.23.1
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Mar. 31, 2023
Mar. 31, 2022
ASSETS    
Investments at fair value $ 753,543 [1] $ 714,396 [2]
Cash and cash equivalents 2,683 14,190
Restricted cash and cash equivalents 565 305
Interest receivable 3,038 3,042
Due from administrative agent 3,899 6,406
Deferred financing costs, net 431 895
Other assets, net 1,485 1,178
TOTAL ASSETS 765,644 740,412
Borrowings:    
Line of credit at fair value (Cost of $35,200 and $0, respectively) 35,171 0
Notes payable, net 257,436 256,252
Secured borrowing 0 5,096
Total borrowings 292,607 261,348
Accounts payable and accrued expenses 786 799
Interest payable 2,309 2,190
Fees due to Adviser and Administrator 29,635 29,915
Other liabilities 565 330
TOTAL LIABILITIES 325,902 294,582
Commitments and contingencies [3]
Net Assets [4] 439,742 445,830
ANALYSIS OF NET ASSETS    
Common stock, $0.001 par value per share, 100,000,000 shares authorized; 33,591,505 and 33,205,023 shares issued and outstanding, respectively 34 33
Capital in excess of par value 401,798 397,948
Cumulative net unrealized appreciation of investments 32,913 45,148
Cumulative net unrealized depreciation of other 29 0
Overdistributed net investment income (5,527) (12,995)
Accumulated net realized gain in excess of distributions 10,495 15,696
Total distributable earnings 37,910 47,849
Net Assets [4] $ 439,742 $ 445,830
NET ASSET VALUE PER SHARE (in USD per share) $ 13.09 $ 13.43
Adviser    
Borrowings:    
Fees due to Adviser and Administrator [5] $ 28,919 $ 29,288
Administrator    
Borrowings:    
Fees due to Adviser and Administrator [5] 716 627
Non-Control/Non-Affiliate investments    
ASSETS    
Investments at fair value 496,875 [6] 442,124 [7]
Affiliate investments    
ASSETS    
Investments at fair value 255,955 [8] 271,559 [9]
Control investments    
ASSETS    
Investments at fair value $ 713 [10] $ 713 [11]
[1] Cumulative gross unrealized appreciation for federal income tax purposes is $150.4 million; cumulative gross unrealized depreciation for federal income tax purposes is $119.3 million. Cumulative net unrealized appreciation is $31.1 million, based on a tax cost of $722.4 million.
[2] Cumulative gross unrealized appreciation for federal income tax purposes is $140.8 million; cumulative gross unrealized depreciation for federal income tax purposes is $97.1 million. Cumulative net unrealized appreciation is $43.8 million, based on a tax cost of $670.6 million.
[3] Refer to Note 11 — Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.
[4] Refer to Note 9 — Distributions to Common Stockholders in the accompanying Notes to Consolidated Financial Statements for additional information.
[5] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.
[6] Non-Control/Non-Affiliate investments, as defined by the 1940 Act, are those that are neither Control nor Affiliate investments and in which we own less than 5.0% of the issued and outstanding voting securities.
[7] Non-Control/Non-Affiliate investments, as defined by the 1940 Act, are those that are neither Control nor Affiliate investments and in which we own less than 5.0% of the issued and outstanding voting securities.
[8] Affiliate investments, as defined by the 1940 Act, are those that are not Control investments and in which we own, with the power to vote, between and inclusive of 5.0% and 25.0% of the issued and outstanding voting securities.
[9] Affiliate investments, as defined by the 1940 Act, are those that are not Control investments and in which we own, with the power to vote, between and inclusive of 5.0% and 25.0% of the issued and outstanding voting securities.
[10] Control investments, as defined by the 1940 Act, are those where we have the power to exercise a controlling influence over the management or policies of the portfolio company, which may include owning, with the power to vote, more than 25.0% of the issued and outstanding voting securities.
[11] Control investments, as defined by the 1940 Act, are those where we have the power to exercise a controlling influence over the management or policies of the portfolio company, which may include owning, with the power to vote, more than 25.0% of the issued and outstanding voting securities.