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 9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
INVESTMENT INCOME        
Interest income $ 16,067 $ 13,344 $ 43,045 $ 43,634
Dividend income 4,466 0 10,847 1,592
Success fee income 1,061 3,398 7,794 8,080
Total investment income 21,594 16,742 61,686 53,306
EXPENSES        
Base management fee [1] 3,789 3,630 10,965 10,527
Loan servicing fee [1] 2,080 1,768 5,754 5,430
Incentive fee [1] 3,945 2,587 7,722 22,186
Administration fee [1] 410 437 1,352 1,407
Interest expense on borrowings 4,074 3,918 11,715 9,300
Dividends on mandatorily redeemable preferred stock 0 0 0 2,306
Amortization of deferred financing costs and discounts 452 447 1,350 1,355
Professional fees 331 444 1,564 1,093
Other general and administrative expenses 780 562 2,793 2,735
Expenses before credits from Adviser 15,861 13,793 43,215 56,339
Credits to base management fee – loan servicing fee [1] (2,080) (1,768) (5,754) (5,430)
Credits to fees from Adviser - other [1] (756) (3,682) (3,131) (5,863)
Total expenses, net of credits to fees 13,025 8,343 34,330 45,046
NET INVESTMENT INCOME 8,569 8,399 27,356 8,260
REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized gain (loss) 3,844 22,049 10,598 22,444
Net unrealized appreciation (depreciation) 3,366 (20,102) (7,065) 54,916
Net realized and unrealized gain (loss) 7,210 1,947 3,533 77,360
Net increase in net assets from operations $ 15,779 $ 10,346 $ 30,889 $ 85,620
BASIC AND DILUTED PER COMMON SHARE:        
Net investment income (loss), basic (in USD per share) $ 0.26 $ 0.25 $ 0.82 $ 0.25
Net investment income (loss), diluted (in USD per share) 0.26 0.25 0.82 0.25
Net increase in net assets resulting from operations, basic (in USD per share) 0.47 0.31 0.93 2.58
Net increase in net assets resulting from operations, diluted (in USD per share) $ 0.47 $ 0.31 $ 0.93 $ 2.58
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 33,316,055 33,205,023 33,246,811 33,205,023
Diluted (in shares) 33,316,055 33,205,023 33,246,811 33,205,023
Cash and cash equivalents        
INVESTMENT INCOME        
Interest income $ 21 $ 1 $ 53 $ 1
Non-Control/Non-Affiliate Investments        
INVESTMENT INCOME        
Interest income 11,357 8,240 30,007 22,524
Dividend income 0 0 4,829 3
Success fee income 1,061 0 7,794 1,650
REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized gain (loss) 473 113 7,504 256
Net unrealized appreciation (depreciation) 2,683 6,275 16,687 38,278
Affiliate Investments        
INVESTMENT INCOME        
Interest income 4,689 5,100 12,985 20,609
Dividend income 4,466 0 6,018 1,589
Success fee income 0 3,398 0 6,430
REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized gain (loss) 3,371 21,936 3,371 24,186
Net unrealized appreciation (depreciation) 683 (26,377) (23,752) 19,757
Control Investments        
INVESTMENT INCOME        
Interest income 0 3 0 500
REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized gain (loss) 0 0 (277) 0
Net unrealized appreciation (depreciation) 0 0 0 (3,119)
Other        
REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized gain (loss) $ 0 $ 0 $ 0 $ (1,998)
[1] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.