Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)
$ in Thousands
Jun. 30, 2024
Sep. 30, 2023
ASSETS    
Investments, at fair value $ 757,745 $ 704,815 [1]
Cash and cash equivalents 1,136 1,306
Restricted cash and cash equivalents 110 95
Interest receivable, net 5,339 6,100
Due from administrative agent 5,922 2,936
Deferred financing costs, net 1,150 1,335
Other assets, net 3,686 2,911
TOTAL ASSETS 775,088 719,498
LIABILITIES    
Line of credit at fair value (Cost of $65,800 and $47,800, respectively) 65,800 47,800
Notes payable, net of unamortized deferred financing costs of $3,126 and $3,886, respectively 253,874 253,114
Accounts payable and accrued expenses 986 1,006
Interest payable 4,296 2,956
Other liabilities 465 1,576
TOTAL LIABILITIES 330,415 310,803
Commitments and contingencies [2]
Preferred Stock, $0.001 par value per share, $6,000,000 and $6,000,000 shares authorized, respectively, and $249,517 and $0 shares issued and outstanding, respectively 5,595 0
NET ASSETS    
Common stock, $0.001 par value per share, 44,000,000 and 44,000,000 shares authorized, respectively, and 21,754,449 and 21,754,449 shares issued and outstanding, respectively [3] 44 44
Capital in excess of par value 481,478 481,480
Cumulative net unrealized appreciation (depreciation) of investments 4,482 (17,454)
Under (over) distributed net investment income 6,140 4,741
Accumulated net realized losses (53,066) (60,116)
Total distributable loss (42,444) (72,829)
TOTAL NET ASSETS 439,078 408,695
TOTAL NET ASSETS $ 439,078 $ 408,695
NET ASSET VALUE PER COMMON SHARE (in USD per share) [3] $ 20.18 $ 18.79
Related Party    
LIABILITIES    
Fee due to related party $ 4,994 $ 4,351
Adviser | Related Party    
LIABILITIES    
Fee due to related party [4] 4,163 3,872
Administrator | Related Party    
LIABILITIES    
Fee due to related party [4] 831 479
Non-Control/Non-Affiliate investments    
ASSETS    
Investments, at fair value 710,261 [5] 663,544 [6]
Affiliate investments    
ASSETS    
Investments, at fair value 9,892 [7] 10,421 [8]
Control investments    
ASSETS    
Investments, at fair value $ 37,592 [9] $ 30,850 [10]
[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] Refer to Note 10—Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.
[3] Issued and outstanding shares of common stock and net asset value per share have been adjusted on a retroactive basis to reflect the 1-for-2 reverse stock split (the “Reverse Stock Split”) effected on April 4, 2024. Refer to Note 2—Summary of Significant Accounting Policies in the accompanying Notes to Consolidated Financial Statements for additional information.
[4] Refer to Note 4—Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.
[5] 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.
[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] 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.
[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] 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.
[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.