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
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase (decrease) in net assets resulting from operations $ 5,698 $ 12,103
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchase of investments (13,379) (110,794)
Principal repayments on investments 25,563 79,743
Net proceeds from sale of investments 13,873 16,690
Increase in investments due to PIK interest or other (1,194) (1,079)
Net change in premiums, discounts and amortization (14) (266)
Net realized loss (gain) on investments and other (9,572) (13,180)
Net unrealized depreciation (appreciation) of investments 12,599 10,237
Changes in assets and liabilities:    
Amortization of deferred financing costs 378 289
Decrease (increase) in interest receivable, net (1,376) 236
Decrease (increase) in funds due from administrative agent (805) (837)
Decrease (increase) in other assets, net (387) (827)
Increase (decrease) in accounts payable and accrued expenses 86 5
Increase (decrease) in interest payable 1,548 1,850
Increase (decrease) in other liabilities 377 653
Net cash provided by (used in) operating activities 34,523 (5,790)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 14,800 138,200
Repayments on line of credit (48,200) (134,800)
Proceeds from issuance of notes payable 0 50,000
Redemption of notes payable 0 (38,813)
Financing costs (196) (1,507)
Proceeds from issuance of common stock 10,721 0
Discounts, commissions and offering costs for issuance of common stock (161) 0
Distributions paid to common stockholders (7,398) (6,689)
Net cash provided by (used in) financing activities (30,434) 6,391
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS 4,089 601
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 6,196 1,447
Supplemental Cash Flow Elements    
CASH PAID FOR INTEREST 3,081 1,157
NON-CASH ACTIVITIES [1] 2,416 468
Adviser    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 1,052 (697)
Administrator    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 76 84
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 (9,319) (13,880)
Net unrealized depreciation (appreciation) of investments 12,599 10,237
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 $ (253) $ 700
[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 $2.4 million in aggregate cost basis of B. Riley Financial, Inc. 6.75% senior notes.
[2] Refer to Note 4—Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.