Quarterly report pursuant to Section 13 or 15(d)

FINANCIAL HIGHLIGHTS (Tables)

v3.24.1.u1
FINANCIAL HIGHLIGHTS (Tables)
 6 Months Ended
Mar. 31, 2024
Investment Company [Abstract]  
Schedule of Investment Company, Financial Highlights
Three Months Ended March 31, Six Months Ended March 31,
2024 2023 2024 2023
Per Common Share Data:
Net asset value at beginning of period(A)
$ 9.61  $ 9.06  $ 9.39  $ 9.08 
Income from operations(B)
Net investment income
 0.25  0.26  0.52  0.51 
Net realized and unrealized gain (loss) on investments
 0.25  0.06  0.44  (0.04)
Net realized and unrealized gain (loss) on other
 0.04  0.01  0.04  0.02 
Total from operations
 0.54  0.33  1.00  0.49 
Distributions to common stockholders from(B)(C)
Net investment income
 (0.25) (0.23) (0.50) (0.44)
Return of capital
 —  —  —  — 
Total distributions
 (0.25) (0.23) (0.50) (0.44)
Capital share transactions(B)
Anti-dilutive effect of common stock issuance(D)
—  0.04  —  0.07 
Total capital share transactions
 —  0.04  —  0.07 
Other, net
 —  (0.01) 0.01  (0.01)
Net asset value at end of period(A)
$ 9.90  $ 9.19  $ 9.90  $ 9.19 
Per common share market value at beginning of period
 $ 10.70  $ 9.62  $ 9.64  $ 8.49 
Per common share market value at end of period
 10.73  9.40  10.73  9.40 
Total return(E)
2.66  % (0.06) % 16.77  % 15.70  %
Common stock outstanding at end of period(A)
43,508,897  37,185,569  43,508,897  37,185,569 
Statement of Assets and Liabilities Data:
Net assets at end of period
 $ 430,791  $ 341,811  $ 430,791  $ 341,811 
Average net assets(F)
424,518  337,720  418,742  332,327 
Senior Securities Data:
Borrowings under line of credit, at cost
 117,200  152,600  117,200  152,600 
Notes payable 257,000  200,000  257,000  200,000 
Series A Preferred Stock 1,751  —  1,751  — 
Ratios/Supplemental Data:
Ratio of net expenses to average net assets – annualized(G)(H)
12.46  % 12.94  % 11.70  % 12.94  %
Ratio of net investment income to average net assets – annualized(I)
10.15  % 11.41  % 10.85  % 11.05  %
(A)    Based on actual shares outstanding at the end of the corresponding period.
(B)    Based on weighted average basic per share data.
(C)    The tax character of distributions is determined based on taxable income calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP.
(D)    During the three and six months ended March 31, 2023, the anti-dilution was a result of issuing common shares during the period at a price above the then current NAV per share.
(E)    Total return equals the change in the ending market value of our common stock from the beginning of the fiscal year, taking into account distributions reinvested in accordance with the terms of our dividend reinvestment plan. Total return does not take into account distributions that may be characterized as a return of capital. For further information on the estimated character of our distributions to common stockholders, refer to Note 9—Distributions to Common Stockholders.
(F)    Computed using the average of the balance of net assets at the end of each month of the reporting period.
(G)    Ratio of net expenses to average net assets is computed using total expenses, net of credits from the Adviser, to the base management, loan servicing and incentive fees.
(H)    Had we not received any non-contractual, unconditional and irrevocable credits of fees from the Adviser, the ratio of net expenses to average net assets would have been 15.04% and 14.81% for the three and six months ended March 31, 2024, respectively, and 16.12% and 15.96% for the three and six months ended March 31, 2023, respectively.
(I)    Had we not received any non-contractual, unconditional and irrevocable credits of fees from the Adviser, the ratio of net investment income to average net assets would have been 7.62% and 7.80% for the three and six months ended March 31, 2024, respectively, and 8.30% and 8.09% for the three and six months ended March 31, 2023, respectively.