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, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 8,956 $ 56,142
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Purchase of investments (20,098) (114,788)
Principal repayments of investments 28,000 0
Net proceeds from the sale and recapitalization of investments 48,546 1,775
Net realized gain on investments (42,305) (1,444)
Net unrealized depreciation (appreciation) of investments and other 53,054 (47,988)
Amortization of deferred financing costs and discounts 1,260 1,119
Bad debt expense, net of recoveries 1,045 (111)
Changes in assets and liabilities:    
Increase in interest receivable (109) (1,996)
Decrease in due from administrative agent 871 787
Increase in other assets, net (290) (6)
Increase in accounts payable and accrued expenses 1,040 593
(Decrease) increase in interest payable (224) 1,182
(Decrease) increase in other liabilities (110) 213
Net cash provided by (used in) operating activities 75,484 (96,585)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock 0 4,121
Discounts, commissions, and offering costs for issuance of common stock 0 (46)
Proceeds from line of credit 47,800 127,000
Repayments on line of credit (105,900) (82,900)
Proceeds from issuance of notes payable 0 74,750
Deferred financing and offering costs (320) (2,729)
Distributions paid to common stockholders (17,610) (24,277)
Net cash (used in) provided by financing activities (76,030) 95,919
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS (546) (666)
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD 3,220 3,248
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD 2,674 2,582
CASH PAID FOR INTEREST 12,442 9,232
NON-CASH FINANCING ACTIVITY:    
Distributions payable 25,682 0
Adviser    
Changes in assets and liabilities:    
(Decrease) increase in fee due to related party [1] (3,991) 8,264
Administrator    
Changes in assets and liabilities:    
(Decrease) increase in fee due to related party [1] (161) (327)
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 (42,305) (1,444)
Net unrealized depreciation (appreciation) of investments and other 53,054 (47,925)
Other    
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Net unrealized depreciation (appreciation) of investments and other $ 0 $ (63)
[1] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.