Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase (decrease) in net assets resulting from operations $ 43,633 $ 17,684
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchase of investments (102,733) (77,469)
Principal repayments on investments 35,983 34,670
Net proceeds from sale of investments 3,182 14,552
Increase in investments due to PIK interest or other (2,604) (1,952)
Net change in premiums, discounts and amortization 330 221
Net realized loss (gain) on investments and other (2,430) (10,000)
Net unrealized depreciation (appreciation) of investments (18,500) 10,673
Amortization of deferred financing costs 870 759
Changes in assets and liabilities:    
Decrease (increase) in interest receivable, net (1,584) (305)
Decrease (increase) in funds due from administrative agent 296 (2,487)
Decrease (increase) in other assets, net (702) (294)
Increase (decrease) in accounts payable and accrued expenses 3 119
Increase (decrease) in interest payable 55 262
Increase (decrease) in other liabilities (1,335) 16
Net cash provided by (used in) operating activities (45,276) (12,316)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 134,300 100,400
Repayments on line of credit (64,900) (89,600)
Proceeds from issuance of notes payable 0 0
Redemption of notes payable 0 0
Financing costs (152) (203)
Proceeds from issuance of common stock 0 24,714
Proceeds from issuance of preferred stock 1,576 0
Discounts, commissions and offering costs for issuance of common stock 0 (398)
Distributions paid to common stockholders (21,537) (15,655)
Net cash provided by (used in) financing activities 49,287 19,258
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS 4,011 6,942
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 5,412 9,049
Supplemental Cash Flow Elements    
CASH PAID FOR INTEREST 10,709 9,276
NON-CASH ACTIVITIES [1] 0 2,416
Adviser    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 34 1,053
Administrator    
Changes in assets and liabilities:    
Increase (decrease) in fee due to related party [2] 226 182
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 (478) (9,722)
Net unrealized depreciation (appreciation) of investments (18,500) 10,834
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 (1,952) (278)
Net unrealized depreciation (appreciation) of investments $ 0 $ (161)
[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.