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
Dec. 31, 2022
Dec. 31, 2021
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) $ 17,369 $ 11,729
PIK interest income 998 1,137
Total interest income 18,367 12,866
Success fee income 0 1,563
Dividend income 836 1,061
Prepayment fee income 0 649
Other income 91 28
Total investment income 19,294 16,167
EXPENSES    
Base management fee [1] 2,829 2,520
Loan servicing fee [1] 1,874 1,462
Incentive fee [1] 2,181 2,091
Administration fee [1] 403 379
Interest expense 4,629 3,007
Amortization of deferred financing costs 378 289
Professional fees 281 264
Other general and administrative expenses 304 384
Expenses, before credits from Adviser 12,879 10,396
Credits to base management fee – loan servicing fee [1] (1,874) (1,462)
Credits to fees from Adviser - other [1] (436) (1,927)
Total expenses, net of credits 10,569 7,007
NET INVESTMENT INCOME 8,725 9,160
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 9,572 13,180
Total net unrealized appreciation (depreciation) (12,599) (10,237)
Net realized and unrealized gain (loss) (3,027) 2,943
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 5,698 $ 12,103
BASIC AND DILUTED PER COMMON SHARE:    
Net investment income, basic (in USD per share) $ 0.25 $ 0.27
Net investment income, diluted (in USD per share) 0.25 0.27
Net increase (decrease) in net assets resulting from operations , basic (in USD per share) 0.16 0.35
Net increase (decrease) in net assets resulting from operations, diluted (in USD per share) $ 0.16 $ 0.35
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:    
Basic (in shares) 35,207,208 34,304,371
Diluted (in shares) 35,207,208 34,304,371
Cash and cash equivalents    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) $ 19 $ 0
Non-Control/Non-Affiliate investments    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) 15,786 10,154
PIK interest income 788 1,137
Dividend income 507 992
Prepayment fee income 0 605
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 10,335 472
Total net unrealized appreciation (depreciation) (15,225) 4,652
Affiliate investments    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) 874 1,067
PIK interest income 139 0
Success fee income 0 1,563
Dividend income 329 69
Prepayment fee income 0 44
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 0 13,408
Total net unrealized appreciation (depreciation) 2,211 (15,027)
Control investments    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) 690 508
PIK interest income 71 0
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) (1,016) 0
Total net unrealized appreciation (depreciation) 415 138
Other    
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) $ 253 $ (700)
[1] Refer to Note 4—Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.