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
 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase (decrease) in net assets resulting from operations $ 29,568 $ 14,807
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchase of investments (148,084) (188,851)
Principal repayments on investments 66,200 138,231
Net proceeds from sale of investments 18,296 15,929
Increase in investments due to PIK interest (2,779) (3,218)
Net change in premiums, discounts and amortization 193 (605)
Net realized loss (gain) on investments and other (12,955) (5,264)
Net unrealized depreciation (appreciation) of investments 13,420 15,259
Changes in assets and liabilities:    
Amortization of deferred financing costs 1,164 849
Decrease (increase) in interest receivable, net (1,500) (1,068)
Decrease (increase) in funds due from administrative agent (1,100) (372)
Decrease (increase) in other assets, net (509) (685)
Increase (decrease) in accounts payable and accrued expenses 569 (130)
Increase (decrease) in interest payable 1,790 1,947
Increase (decrease) in other liabilities 1,315 (4,766)
Net cash provided by (used in) operating activities (33,730) (18,603)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 123,000 235,500
Repayments on line of credit (101,000) (206,000)
Proceeds from issuance of notes payable 0 50,000
Redemption of notes payable 0 (38,813)
Financing costs (1,559) (1,662)
Proceeds from issuance of common stock 38,279 0
Discounts, commissions and offering costs for issuance of common stock (574) 0
Distributions paid to common stockholders (24,737) (20,325)
Net cash provided by (used in) financing activities 33,409 18,700
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS (321) 97
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD 2,107 846
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD 1,786 943
Supplemental Cash Flow Elements    
CASH PAID FOR INTEREST 13,301 7,230
NON-CASH ACTIVITIES [1] 2,416 7,489
Adviser    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 409 (960)
Administrator    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 273 294
Investment, Unaffiliated and Affiliated Issuer, Excluding Other    
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net realized loss (gain) on investments and other (12,633) (5,384)
Net unrealized depreciation (appreciation) of investments 13,420 15,259
Other    
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net realized loss (gain) on investments and other (322) 120
Net unrealized depreciation (appreciation) of investments $ 0 $ 0
[1] Non-cash activities relate to the October 2022 exit of our investment in Targus Cayman HoldCo Ltd., which was sold for net proceeds of approximately $8.0 million, resulting in a realized gain of approximately $5.9 million. As part of the proceeds, we received an interest in B. Riley Financial, Inc. 6.75% senior notes in the amount of $2.4 million.
[2] Refer to Note 4—Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.