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, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase (decrease) in net assets resulting from operations $ 20,001 $ 5,698
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchase of investments (57,998) (13,379)
Principal repayments on investments 21,806 25,563
Net proceeds from sale of investments 263 13,873
Increase in investments due to PIK interest or other (1,211) (1,194)
Net change in premiums, discounts and amortization 37 (14)
Net realized loss (gain) on investments and other (262) (9,572)
Net unrealized depreciation (appreciation) of investments (7,805) 12,599
Amortization of deferred financing costs 429 378
Changes in assets and liabilities:    
Decrease (increase) in interest receivable, net (58) (1,376)
Decrease (increase) in funds due from administrative agent (1,248) (805)
Decrease (increase) in other assets, net (506) (387)
Increase (decrease) in accounts payable and accrued expenses 59 86
Increase (decrease) in interest payable 1,367 1,548
Increase (decrease) in other liabilities (261) 377
Net cash provided by (used in) operating activities (26,171) 34,523
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 70,200 14,800
Repayments on line of credit (33,000) (48,200)
Financing costs (69) (196)
Proceeds from issuance of common stock 0 10,721
Discounts, commissions and offering costs for issuance of common stock 0 (161)
Distributions paid to common stockholders (10,768) (7,398)
Net cash provided by (used in) financing activities 26,363 (30,434)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS 192 4,089
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD 1,401 2,107
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD 1,593 6,196
Supplemental Cash Flow Elements    
CASH PAID FOR INTEREST 3,665 3,081
NON-CASH ACTIVITIES [1] 0 2,416
Adviser    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] (877) 1,052
Administrator    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 93 76
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 (259) (9,319)
Net unrealized depreciation (appreciation) of investments (7,805) 12,599
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 $ (3) $ (253)
[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.