Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

v3.22.4
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Dec. 31, 2022
Mar. 31, 2022
ASSETS    
Investments at fair value $ 760,463 $ 714,396 [1]
Cash and cash equivalents 1,978 14,190
Restricted cash and cash equivalents 869 305
Interest receivable 4,078 3,042
Due from administrative agent 1,821 6,406
Deferred financing costs, net 566 895
Other assets, net 1,789 1,178
TOTAL ASSETS 771,564 740,412
Borrowings:    
Line of credit at fair value (Cost of $29,600 and $0, respectively) 29,600 0
Notes payable, net 257,119 256,252
Secured borrowing 0 5,096
Total borrowings 286,719 261,348
Accounts payable and accrued expenses 1,763 799
Interest payable 2,296 2,190
Fees due to related party 30,726 29,915
Other liabilities 869 330
TOTAL LIABILITIES 322,373 294,582
Commitments and contingencies [2]
TOTAL NET ASSETS 449,191 445,830
ANALYSIS OF NET ASSETS    
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 33,447,001 and 33,205,023 shares issued and outstanding, respectively 33 33
Capital in excess of par value 399,808 397,948
Cumulative net unrealized appreciation (depreciation) of investments 38,083 45,148
Underdistributed (overdistributed) net investment income 427 (12,995)
Accumulated net realized gain in excess of distributions 10,840 15,696
Total distributable earnings 49,350 47,849
TOTAL NET ASSETS $ 449,191 $ 445,830
NET ASSET VALUE PER SHARE (in USD per share) $ 13.43 $ 13.43
Adviser    
Borrowings:    
Fees due to related party [3] $ 30,162 $ 29,288
Administrator    
Borrowings:    
Fees due to related party [3] 564 627
Non-Control/Non-Affiliate Investments    
ASSETS    
Investments at fair value 501,343 [4] 442,124 [5]
Affiliate Investments    
ASSETS    
Investments at fair value 258,407 [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.