Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 60,641 $ 58,693
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:    
Investments in portfolio companies (214,044) (286,906)
Proceeds from sales and repayments of debt investments in portfolio companies 162,204 208,777
Proceeds from sales and return of capital of equity investments in portfolio companies 39,724 19,897
Net unrealized appreciation (15,505) (35,886)
Net realized (gain) loss (5,734) 26,141
Accretion of unearned income (6,119) (5,702)
Payment-in-kind interest (7,805) (6,104)
Cumulative dividends (871) (902)
Amortization of deferred financing and debt issuance costs 1,028 819
Deferred taxes 7,251 1,407
Changes in other assets and liabilities:    
Interest and dividend receivable 1,136 (1,725)
Prepaids and other assets (1,933) 39
Accounts payable and other liabilities 1,354 (3,590)
Interest payable 6,344 486
Base management and incentive fees payable (501) (326)
Capital gains incentive fee accrual 3,194 0
Net cash provided by (used in) operating activities 30,364 (24,882)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from public offering of common stock, net of underwriting and offering costs 0 90,532
Redemption of common stock (16,701) (2,685)
Dividends paid (49,420) (34,556)
Proceeds from Credit Facilities 319,000 305,000
Repayments on Credit Facilities (500,000) (341,688)
Deferred financing and debt issuance costs (1,546) (2,015)
Net cash provided by (used in) financing activities (23,667) 14,588
Net increase (decrease) in cash and cash equivalents 6,697 (10,294)
CASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD 20,635 28,375
CASH AND CASH EQUIVALENTS AS OF END OF PERIOD 27,332 18,081
Supplemental cash flow disclosures:    
Interest paid 21,272 24,265
Taxes paid 514 4,504
Non-cash financing activities:    
Value of shares issued pursuant to the dividend reinvestment plan 0 13,771
May 2029 Notes    
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from Notes 150,000 0
September 2029 Notes    
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from Notes $ 75,000 $ 0