Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 56,142 $ 15,110
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Purchase of investments (114,788) (102,046)
Principal repayments of investments 0 48,000
Net proceeds from the sale and recapitalization of investments 1,775 21,690
Net realized gain on investments (1,444) (6,754)
Net unrealized (appreciation) depreciation of investments and other (47,988) 10,431
Amortization of premiums, discounts, and acquisition costs, net 0 (9)
Amortization of deferred financing costs and discounts 1,119 898
Bad debt (recoveries) expense, net (111) 153
Changes in assets and liabilities:    
(Increase) decrease in interest receivable (1,996) 42
Decrease in due from administrative agent 787 4,164
Increase in other assets, net (6) (617)
Increase in accounts payable and accrued expenses 593 999
Increase in interest payable 1,182 16
Increase in other liabilities 213 68
Net cash (used in) provided by operating activities (96,585) (9,445)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock 4,121 467
Discounts, commissions, and offering costs for issuance of common stock (46) (6)
Proceeds from line of credit 127,000 41,500
Repayments on line of credit (82,900) (24,900)
Proceeds from issuance of notes payable 74,750 0
Deferred financing and offering costs (2,729) (277)
Distributions paid to common stockholders (24,277) (18,931)
Net cash provided by (used in) financing activities 95,919 (2,147)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS (666) (11,592)
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD 3,248 14,495
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD 2,582 2,903
CASH PAID FOR INTEREST 9,232 6,739
Adviser    
Changes in assets and liabilities:    
Increase (Decrease) in fee due to related party [1] 8,264 (1,578)
Administrator    
Changes in assets and liabilities:    
Increase (Decrease) in fee due to related party [1] (327) (12)
Investment, Unaffiliated and Affiliated Issuer, Excluding Other    
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Net realized gain on investments (1,444) (6,754)
Net unrealized (appreciation) depreciation of investments and other (47,925) 10,431
Other    
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Net unrealized (appreciation) depreciation of investments and other $ (63) $ 0
[1] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.