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, 2023
Mar. 31, 2023
ASSETS    
Investments at fair value $ 800,078 $ 753,543 [1]
Cash and cash equivalents 37,099 2,683
Restricted cash and cash equivalents 653 565
Interest receivable 3,826 3,038
Due from administrative agent 2,736 3,899
Deferred financing costs, net 372 431
Other assets, net 2,359 1,485
TOTAL ASSETS 847,123 765,644
Borrowings:    
Line of credit at fair value (Cost of $46,200 and $35,200, respectively) 46,160 35,171
Notes payable, net 329,999 257,436
Total borrowings 376,159 292,607
Accounts payable and accrued expenses 1,650 786
Interest payable 2,923 2,309
Other liabilities 653 565
TOTAL LIABILITIES 410,688 325,902
Commitments and contingencies [2]
TOTAL NET ASSETS 436,435 439,742
ANALYSIS OF NET ASSETS    
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 33,591,505 and 33,591,505 shares issued and outstanding, respectively 34 34
Capital in excess of par value 402,405 401,798
Cumulative net unrealized appreciation of investments 32,093 32,913
Cumulative net unrealized depreciation of other 40 29
Overdistributed net investment income (3,880) (5,527)
Accumulated net realized gain in excess of distributions 5,743 10,495
Total distributable earnings 33,996 37,910
TOTAL NET ASSETS $ 436,435 $ 439,742
NET ASSET VALUE PER SHARE (in USD per share) $ 12.99 $ 13.09
Related Party    
Borrowings:    
Fees due to related party $ 29,303 $ 29,635
Adviser | Related Party    
Borrowings:    
Fees due to related party [3] 28,418 28,919
Administrator | Related Party    
Borrowings:    
Fees due to related party [3] 885 716
Non-Control/Non-Affiliate Investments    
ASSETS    
Investments at fair value 515,778 [4] 496,875 [5]
Affiliate Investments    
ASSETS    
Investments at fair value 284,300 [6] 255,955 [7]
Control Investments    
ASSETS    
Investments at fair value $ 0 [8] $ 713 [9]
[1] Cumulative gross unrealized appreciation for federal income tax purposes is $150.4 million; cumulative gross unrealized depreciation for federal income tax purposes is $119.3 million. Cumulative net unrealized appreciation is $31.1 million, based on a tax cost of $722.4 million.
[2] Refer to Note 9 — Commitments and Contingencies in the accompanying Notes to Consolidated Financial Statements for additional information.
[3] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.
[4] 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.
[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] Affiliate investments, as defined by the 1940 Act, are those that are not Control investments and 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.
[7] Affiliate investments, as defined by the 1940 Act, are those that are not Control investments and 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] 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.
[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.