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
 6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase (decrease) in net assets resulting from operations $ 17,684 $ 20,406
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchase of investments (77,469) (121,569)
Principal repayments on investments 34,670 130,600
Net proceeds from sale of investments 14,552 16,922
Increase in investments due to PIK interest or other (1,952) (2,614)
Net change in premiums, discounts and amortization 221 (547)
Net realized loss (gain) on investments and other (10,000) (13,413)
Net unrealized depreciation (appreciation) of investments 10,673 10,862
Changes in assets and liabilities:    
Amortization of deferred financing costs 759 563
Decrease (increase) in interest receivable, net (305) (545)
Decrease (increase) in funds due from administrative agent (2,487) 610
Decrease (increase) in other assets, net (294) (1,265)
Increase (decrease) in accounts payable and accrued expenses 119 51
Increase (decrease) in interest payable 262 406
Increase (decrease) in other liabilities 16 (3,943)
Net cash provided by (used in) operating activities (12,316) 37,664
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 100,400 161,500
Repayments on line of credit (89,600) (194,600)
Proceeds from issuance of notes payable 0 50,000
Redemption of notes payable 0 (38,813)
Financing costs (203) (1,575)
Proceeds from issuance of common stock 24,714 0
Discounts, commissions and offering costs for issuance of common stock (398) 0
Distributions paid to common stockholders (15,655) (13,378)
Net cash provided by (used in) financing activities 19,258 (36,866)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS 6,942 798
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD 2,107 846
CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD 9,049 1,644
Supplemental Cash Flow Elements    
CASH PAID FOR INTEREST 9,276 5,621
NON-CASH ACTIVITIES [1] 2,416 710
Adviser    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 1,053 943
Administrator    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 182 197
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 (9,722) (13,880)
Net unrealized depreciation (appreciation) of investments 10,834 10,862
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 (278) 467
Net unrealized depreciation (appreciation) of investments $ (161) $ 0
[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 an interest in B. Riley Financial, Inc. 6.75% senior notes in the amount of $2.4 million.
[2] Refer to Note 4—Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.