Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 13,223 $ 15,875
Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:    
Investments in portfolio companies (73,732) (142,755)
Proceeds from sales and repayments of debt investments in portfolio companies 33,827 52,244
Proceeds from sales and return of capital of equity investments in portfolio companies 7,796 8,909
Net unrealized (appreciation) depreciation 2,643 (18,783)
Net realized loss 241 21,066
Accretion of unearned income (1,692) (1,750)
Payment-in-kind interest (2,500) (1,915)
Cumulative dividends (285) (74)
Amortization of deferred financing costs 298 247
Deferred taxes 796 (1,853)
Changes in other assets and liabilities:    
Interest and dividend receivable 168 (803)
Prepaid and other assets (506) 784
Accounts payable and other liabilities 867 (2,978)
Interest payable 1,517 806
Base management and incentive fees payable (1,048) (1,514)
Net cash used in operating activities (18,387) (72,494)
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 (16,030) 0
Dividends paid (16,772) (9,991)
Proceeds from Credit Facilities 138,000 130,000
Repayments on Credit Facilities (241,000) (125,000)
Proceeds from May 2029 Notes 150,000 0
Payment of deferred financing costs (887) (1,963)
Net cash provided by financing activities 13,311 83,578
Net increase (decrease) in cash and cash equivalents (5,076) 11,084
CASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD 20,635 28,375
CASH AND CASH EQUIVALENTS AS OF END OF PERIOD 15,559 39,459
Supplemental cash flow disclosures:    
Interest paid 7,106 7,189
Taxes paid 88 4,120
Non-cash financing activities:    
Dividends declared and unpaid 16,324 16,866
Value of shares issued pursuant to the dividend reinvestment plan $ 0 $ 4,496