v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investment income:      
Payment-in-kind interest income $ 7,651 $ 9,161 $ 9,407
Dividend income 2,096 4,292 4,188
Other income 516 1,324 (679)
Total investment income 37,875 60,527 64,297
Operating expenses:      
Interest and other debt financing expenses 15,867 21,917 22,847
Base management fees 6,821 8,056 8,603
Incentive fees 0 2,449 5,812
Professional fees 1,022 902 719
Administrative service fees 1,483 1,011 940
General and administrative expenses 800 964 1,174
Directors’ fees 253 244 147
Total operating expenses 26,246 35,543 40,242
Net investment income before income taxes 11,629 24,984 24,055
Income tax expense, including excise taxes 223 452 806
Net investment income 11,406 24,532 23,249
Net realized gain (loss):      
Non-controlled/non-affiliate company investments (16,667) 1,431 (38,769)
Foreign currency forward contracts 0 0 1,756
Foreign currency and other transactions 0 0 (135)
Net realized gain (loss) (16,667) 1,431 (37,148)
Net change in unrealized gain (loss):      
Unrealized gain (loss) of investments 139 (16,259) 15,777
Foreign currency forward contracts 0 0 (1,507)
Net change in unrealized gain (loss) 139 (16,259) 14,270
Net gain (loss) (16,528) (14,828) (22,878)
Net increase (decrease) in net assets resulting from operations $ (5,122) $ 9,704 $ 371
Per common share data:      
Net investment income per share - basic (in dollars per share) $ 0.53 $ 1.13 $ 1.07
Net investment income per share - diluted (in dollars per share) 0.53 1.13 1.07
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share) (0.24) 0.45 0.02
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share) $ (0.24) $ 0.45 $ 0.02
Weighted average common shares outstanding - basic (in shares) 21,666 21,666 21,666
Weighted average common shares outstanding - diluted (in shares) 21,666 21,666 21,666
Non-controlled/non-affiliate company investments      
Investment income:      
Interest income $ 25,424 $ 40,787 $ 46,241
Payment-in-kind interest income 4,813 3,877 3,070
Dividend income 259 472 305
Other income 516 1,306 (679)
Total investment income 31,012 46,442 48,937
Net realized gain (loss):      
Non-controlled/non-affiliate company investments (2,912) 1,431 (38,769)
Net change in unrealized gain (loss):      
Unrealized gain (loss) of investments (8,655) (8,211) 22,154
Controlled affiliate company investments      
Investment income:      
Dividend income 1,600 3,600 3,600
Total investment income 1,600 3,600 3,600
Net realized gain (loss):      
Non-controlled/non-affiliate company investments (13,755) 0 0
Net change in unrealized gain (loss):      
Unrealized gain (loss) of investments 9,920 (392) (2,387)
Non-controlled affiliate company investments      
Investment income:      
Interest income 2,188 4,963 5,140
Payment-in-kind interest income 2,838 5,284 6,337
Dividend income 237 220 283
Other income 0 18 0
Total investment income 5,263 10,485 11,760
Net realized gain (loss):      
Non-controlled/non-affiliate company investments 0 0  
Net change in unrealized gain (loss):      
Unrealized gain (loss) of investments $ (1,126) $ (7,656) $ (3,990)