Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
INVESTMENT INCOME    
Interest income $ 20,625 $ 18,393
Dividend income 0 1,907
Success fee income 1,553 0
Total investment income 22,178 20,300
EXPENSES    
Base management fee [1] 4,618 3,931
Loan servicing fee [1] 2,222 2,172
Incentive fee [1] (3,788) 2,194
Administration fee [1] 506 522
Interest expense on borrowings 6,480 4,974
Amortization of deferred financing costs and discounts 631 545
Professional fees 330 284
Other general and administrative expenses 1,614 685
Expenses before credits from Adviser 12,613 15,307
Credits to base management fee – loan servicing fee [1] (2,222) (2,172)
Credits to fees from Adviser - other [1] (627) (1,275)
Total expenses, net of credits to fees 9,764 11,860
NET INVESTMENT INCOME 12,414 8,440
REALIZED AND UNREALIZED GAIN (LOSS)    
Total net realized gain 2 1,155
Total net unrealized (depreciation) appreciation (18,942) (809)
Net realized and unrealized (loss) gain (18,940) 346
NET (DECREASE) INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ (6,526) $ 8,786
BASIC AND DILUTED PER COMMON SHARE:    
Net investment income, basic (in USD per share) $ 0.34 $ 0.25
Net investment income, diluted (in USD per share) 0.34 0.25
Net (decrease) increase in net assets resulting from operations, basic (in USD per share) (0.18) 0.26
Net (decrease) increase in net assets resulting from operations, diluted (in USD per share) $ (0.18) $ 0.26
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:    
Basic (in shares) 36,688,667 33,591,505
Diluted (in shares) 36,688,667 33,591,505
Cash and cash equivalents    
INVESTMENT INCOME    
Interest income $ 43 $ 287
Non-Control/Non-Affiliate Investments    
INVESTMENT INCOME    
Interest income 14,542 12,490
Success fee income 1,553 0
REALIZED AND UNREALIZED GAIN (LOSS)    
Total net realized gain 2 0
Total net unrealized (depreciation) appreciation (12,434) 3,428
Affiliate Investments    
INVESTMENT INCOME    
Interest income 6,040 5,616
Dividend income 0 1,907
REALIZED AND UNREALIZED GAIN (LOSS)    
Total net realized gain 0 273
Total net unrealized (depreciation) appreciation (5,065) (4,155)
Control Investments    
REALIZED AND UNREALIZED GAIN (LOSS)    
Total net realized gain 0 882
Total net unrealized (depreciation) appreciation (1,443) (93)
Other    
REALIZED AND UNREALIZED GAIN (LOSS)    
Total net unrealized (depreciation) appreciation $ 0 $ 11
[1] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.