v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 15,875 $ 10,589
Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:    
Investments in portfolio companies (142,755) (75,728)
Proceeds from sales and repayments of debt investments in portfolio companies 52,244 49,378
Proceeds from sales and return of capital of equity investments in portfolio companies 8,909 2,745
Net unrealized (appreciation) depreciation (18,783) 1,133
Net realized loss on portfolio investments 21,066 1,884
Amortization of deferred financing costs 247 772
Accretion of unearned income (1,750) (1,611)
Payment-in-kind interest (1,915) (1,525)
Cumulative dividends (74) (22)
Deferred taxes (1,853) 611
Changes in other assets and liabilities:    
Interest and dividend receivable (803) (1,283)
Prepaid and other assets 784 (696)
Management and incentive fees payable (1,514) (80)
Interest payable 806 2,145
Accounts payable and other liabilities (2,978) 119
Net cash used in operating activities (72,494) (11,569)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock, net of underwriting and offering costs 90,532 2,500
Redemption of common stock 0 (6,547)
Dividends paid (9,991) (9,522)
Proceeds from Credit Facilities 130,000 82,000
Repayments on Credit Facilities (125,000) (63,000)
Payment of deferred financing costs (1,963) 0
Net cash provided by financing activities 83,578 5,431
Net increase (decrease) in cash and cash equivalents 11,084 (6,138)
CASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD 28,375 30,786
CASH AND CASH EQUIVALENTS AS OF END OF PERIOD 39,459 24,648
Supplemental cash flow disclosures:    
Interest paid 7,189 6,632
Taxes paid 4,120 384
Non-cash financing activities:    
Dividends declared and unpaid 16,866 14,821
Value of shares issued pursuant to the DRIP $ 4,496 $ 4,493