v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows provided by/(used in) operating activities:    
Net increase/(decrease) in net assets resulting from operations $ 27,087 $ 14,508
Adjustments to reconcile net increase/(decrease) in net assets resulting from operation to net cash provided by/(used in) operating activities:    
Purchase of investments, net of deferred fees (218,458) (240,700)
Proceeds from sales and paydowns of investments 157,087 148,541
Net change in unrealized (appreciation)/depreciation from investments 3,142 12,000
Net realized (gain)/loss from investments 2,154 (1,351)
Accretion of original issue discounts and end of term payments on investments (11,044) (7,172)
Amortization of deferred financing costs 1,276 1,075
Stock-based compensation 2,609 2,459
Change in operating assets and liabilities    
(Increase)/Decrease in interest receivable (84) (2,106)
(Increase)/Decrease in other assets (17,323) (872)
Increase/(Decrease) in security deposits (1,457) (1,173)
Increase/(Decrease) in accounts payable, accrued expenses and other liabilities (8,330) (6,610)
Net cash provided by/(used in) operating activities (63,341) (81,401)
Cash flows provided by/(used in) investing activities:    
Disposal/(Acquisition) of fixed assets (106) (33)
Net cash provided by/(used in) investing activities (106) (33)
Cash flows provided by/(used in) financing activities    
Issuance of common stock, net of issuance costs 30,468 24,240
Retirement of employee shares (1,695) (1,582)
Cash distributions paid (31,154) (22,821)
Issuance of debt, net of issuance costs 3,343 111,803
Repayment of debt (217,756)  
Borrowings under Credit Facilities 398,000 148,000
Repayments under Credit Facilities (119,000) (171,000)
Net cash provided by/(used in) financing activities 62,206 88,640
Net increase/(decrease) in cash, cash equivalents and restricted cash (1,241) 7,206
Cash, cash equivalents and restricted cash at beginning of period 9,627 4,761
Cash, cash equivalents and restricted cash at end of period 8,386 11,967
Supplemental and non-cash investing and financing activities:    
Cash paid for interest 13,966 10,338
Income tax, including excise tax, paid 2,722 2,524
Distribution payable 32,579 24,808
Distributions reinvested $ 297 $ 340