Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Sep. 30, 2022
Mar. 31, 2022
ASSETS    
Investments at fair value $ 737,935 $ 714,396 [1]
Cash and cash equivalents 2,557 14,190
Restricted cash and cash equivalents 346 305
Interest receivable 3,000 3,042
Due from administrative agent 2,242 6,406
Deferred financing costs, net 701 895
Other assets, net 1,847 1,178
TOTAL ASSETS 748,628 740,412
Borrowings:    
Line of credit at fair value (Cost of $16,600 and $0, respectively) 16,600 0
Notes payable, net 256,802 256,252
Secured borrowing 0 5,096
Total borrowings 273,402 261,348
Accounts payable and accrued expenses 1,798 799
Interest payable 2,206 2,190
Fees due to related party 28,406 29,915
Other liabilities 346 330
TOTAL LIABILITIES 306,158 294,582
Commitments and contingencies [2]
TOTAL NET ASSETS 442,470 445,830
ANALYSIS OF NET ASSETS    
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 33,234,663 and 33,205,023 shares issued and outstanding, respectively 33 33
Capital in excess of par value 397,131 397,948
Cumulative net unrealized appreciation (depreciation) of investments 34,717 45,148
Overdistributed net investment income (1,073) (12,995)
Accumulated net realized gain in excess of distributions 11,662 15,696
Total distributable earnings 45,306 47,849
TOTAL NET ASSETS $ 442,470 $ 445,830
NET ASSET VALUE PER SHARE (in USD per share) $ 13.31 $ 13.43
Adviser    
Borrowings:    
Fees due to related party [3] $ 27,791 $ 29,288
Administrator    
Borrowings:    
Fees due to related party [3] 615 627
Non-Control/Non-Affiliate Investments    
ASSETS    
Investments at fair value 488,999 [4] 442,124 [5]
Affiliate Investments    
ASSETS    
Investments at fair value 248,223 [6] 271,559 [7]
Control Investments    
ASSETS    
Investments at fair value $ 713 [8] $ 713 [9]
[1] 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.
[2] Refer to Note 10 — Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.
[3] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.
[4] 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.
[5] 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.
[6] 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.
[7] 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.
[8] 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.
[9] 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.