Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
INVESTMENT INCOME    
Interest income $ 18,393 $ 12,741
Dividend income 1,907 1,556
Success fee income 0 5,000
Total investment income 20,300 19,297
EXPENSES    
Base management fee [1] 3,931 3,563
Loan servicing fee [1] 2,172 1,758
Incentive fee [1] 2,194 3,009
Administration fee [1] 522 380
Interest expense on borrowings 4,974 3,784
Amortization of deferred financing costs and discounts 545 448
Professional fees 284 295
Other general and administrative expenses 685 1,197
Expenses before credits from Adviser 15,307 14,434
Credits to base management fee – loan servicing fee [1] (2,172) (1,758)
Credits to fees from Adviser - other [1] (1,275) (750)
Total expenses, net of credits to fees 11,860 11,926
NET INVESTMENT INCOME 8,440 7,371
REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 1,155 4,452
Net unrealized appreciation (depreciation) (809) 212
Net realized and unrealized gain 346 4,664
Net increase in net assets resulting from operations $ 8,786 $ 12,035
BASIC AND DILUTED PER COMMON SHARE:    
Net investment income, basic (in USD per share) $ 0.25 $ 0.22
Net investment income, diluted (in USD per share) 0.25 0.22
Net increase in net assets resulting from operations, basic (in USD per share) 0.26 0.36
Net increase in net assets resulting from operations, diluted (in USD per share) $ 0.26 $ 0.36
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:    
Basic (in shares) 33,591,505 33,205,023
Diluted (in shares) 33,591,505 33,205,023
Cash and cash equivalents    
INVESTMENT INCOME    
Interest income $ 287 $ 3
Non-Control/Non-Affiliate Investments    
INVESTMENT INCOME    
Interest income 12,490 8,728
Dividend income 0 4
Success fee income 0 5,000
REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 0 4,729
Net unrealized appreciation (depreciation) 3,428 14,989
Affiliate Investments    
INVESTMENT INCOME    
Interest income 5,616 4,010
Dividend income 1,907 1,552
REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 273 0
Net unrealized appreciation (depreciation) (4,155) (14,777)
Control Investments    
REALIZED AND UNREALIZED GAIN (LOSS)    
Net realized gain (loss) 882 (277)
Net unrealized appreciation (depreciation) (93) 0
Other    
REALIZED AND UNREALIZED GAIN (LOSS)    
Net unrealized appreciation (depreciation) $ 11 $ 0
[1] Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.