Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Sep. 30, 2023
Sep. 30, 2022
ASSETS    
Investments, at fair value $ 704,815 [1] $ 649,615 [2]
Cash and cash equivalents 1,306 2,011
Restricted cash and cash equivalents 95 96
Interest receivable, net 6,100 2,737
Due from administrative agent 2,936 3,199
Deferred financing costs, net 1,335 836
Other assets, net 2,911 2,474
TOTAL ASSETS 719,498 660,968
LIABILITIES    
Line of credit at fair value (Cost of $47,800 and $141,800, respectively) 47,800 141,800
Notes payable, net of unamortized deferred financing costs of $3,886 and $2,393, respectively 253,114 197,607
Accounts payable and accrued expenses 1,006 500
Interest payable 2,956 2,517
Other liabilities 1,576 530
TOTAL LIABILITIES 310,803 345,481
Commitments and contingencies [3]
NET ASSETS    
Common stock, $0.001 par value per share, 44,000,000 and 44,560,000 shares authorized, respectively, and 43,508,897 and 34,734,796 shares issued and outstanding, respectively 44 35
Capital in excess of par value [4] 481,480 395,542
Cumulative net unrealized appreciation (depreciation) of investments (17,454) (6,438)
Under (over) distributed net investment income [4] 4,741 (500)
Accumulated net realized losses (60,116) (73,152)
Total distributable loss (72,829) (80,090)
TOTAL NET ASSETS $ 408,695 $ 315,487
NET ASSET VALUE PER COMMON SHARE (in USD per share) $ 9.39 $ 9.08
Related Party    
LIABILITIES    
Fees due to related party $ 4,351 $ 2,527
Adviser | Related Party    
LIABILITIES    
Fees due to related party [5] 3,872 2,104
Administrator | Related Party    
LIABILITIES    
Fees due to related party [5] 479 423
Non-Control/Non-Affiliate investments    
ASSETS    
Investments, at fair value 663,544 [6] 574,811 [7]
Affiliate investments    
ASSETS    
Investments, at fair value 10,421 [8] 39,091 [9]
Control investments    
ASSETS    
Investments, at fair value $ 30,850 [10] $ 35,713 [11]
[1] Cumulative gross unrealized depreciation for federal income tax purposes is $56.9 million; cumulative gross unrealized appreciation for federal income tax purposes is $33.7 million. Cumulative net unrealized depreciation is $23.2 million, based on a tax cost of $728.0 million.
[2] Cumulative gross unrealized depreciation for federal income tax purposes is $52.3 million; cumulative gross unrealized appreciation for federal income tax purposes is $35.2 million. Cumulative net unrealized depreciation is $17.1 million, based on a tax cost of $666.7 million.
[3] Refer to Note 11—Commitments and Contingencies for additional information.
[4] Refer to Note 9—Distributions to Common Stockholders for additional information.
[5] Refer to Note 4—Related Party Transactions for additional information.
[6] 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.
[7] 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.
[8] Affiliate investments, as defined by the 1940 Act, are those 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.
[9] Affiliate investments, as defined by the 1940 Act, are those 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.
[10] 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.
[11] 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.