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, 2023
Dec. 31, 2022
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) $ 21,588 $ 17,369
PIK interest income 1,408 998
Total interest income 22,996 18,367
Dividend income 185 836
Other income 40 91
Total investment income 23,221 19,294
EXPENSES    
Base management fee [1] 3,245 2,829
Loan servicing fee [1] 2,128 1,874
Incentive fee [1] 2,984 2,181
Administration fee [1] 454 403
Interest expense 5,032 4,629
Amortization of deferred financing costs 429 378
Professional fees 230 281
Other general and administrative expenses 495 304
Expenses, before credits from Adviser 14,997 12,879
Credits to base management fee – loan servicing fee [1] (2,128) (1,874)
Credits to fees from Adviser - other [1] (1,582) (436)
Total expenses, net of credits 11,287 10,569
NET INVESTMENT INCOME 11,934 8,725
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 262 9,572
Total net unrealized appreciation (depreciation) 7,805 (12,599)
Net realized and unrealized gain (loss) 8,067 (3,027)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 20,001 $ 5,698
BASIC AND DILUTED PER COMMON SHARE:    
Net investment income, basic (in USD per share) $ 0.27 $ 0.25
Net investment income, diluted (in USD per share) 0.27 0.25
Net increase (decrease) in net assets resulting from operations , basic (in USD per share) 0.46 0.16
Net increase (decrease) in net assets resulting from operations, diluted (in USD per share) $ 0.46 $ 0.16
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:    
Basic (in shares) 43,508,897 35,207,208
Diluted (in shares) 43,508,897 35,207,208
Cash and cash equivalents    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) $ 27 $ 19
Non-Control/Non-Affiliate investments    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) 20,810 15,786
PIK interest income 1,327 788
Dividend income 185 507
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 0 10,335
Total net unrealized appreciation (depreciation) 7,051 (15,225)
Affiliate investments    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) 0 874
PIK interest income 0 139
Dividend income 0 329
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 0 0
Total net unrealized appreciation (depreciation) 295 2,211
Control investments    
INVESTMENT INCOME    
Total interest income (excluding PIK interest income) 751 690
PIK interest income 81 71
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 259 (1,016)
Total net unrealized appreciation (depreciation) 459 415
Other    
NET REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) $ 3 $ 253
[1] Refer to Note 4—Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.