v3.26.1
Consolidated Statement of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Cash flows from operating activities:  
Net increase (decrease) in net assets resulting from operations $ 3,127
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:  
Accrued interest and dividends received in-kind (295)
Net accretion of discount and amortization of premium (123)
Proceeds from sale of investments and principal repayments 16,227
Purchases of investments (36,733)
Net change in unrealized (appreciation) depreciation on investments 416
Amortization of deferred financing costs 190
Cash acquired in merger 19,705
Changes in operating assets and liabilities:  
Interest and dividends receivable 2,185
Management fees payable 31
Prepaid expenses and other assets 5,437
Interest payable (215)
Accrued professional fees 426
Accrued expenses and other liabilities 367
Net cash provided by (used in) operating activities 10,745
Cash flows from financing activities:  
Proceeds from issuance of shares 15,325
Borrowings under credit facility 125,100
Debt repayments under credit facility (142,400)
Subscriptions received in advance 7,350
Dividends paid (380)
Deferred financing costs paid (1,176)
Net cash provided by (used in) financing activities 3,819
Net decrease in cash and cash equivalents and restricted cash 14,564
Cash and cash equivalents and restricted cash, beginning of period
Cash and cash equivalents and restricted cash, end of period 14,564
Supplemental non-cash investing and financing activities:  
Dividends payable 3,218
Non-cash purchases of investments 233,481
Interest receivable acquired in merger 2,723
Prepaid expenses and other assets acquired in merger 5,662
Senior securities net of deferred financing costs acquired in merger 94,983
Interest payable acquired in merger 651
Accrued professional fees acquired in merger 9
Accrued expenses and other liabilities acquired in merger 467
Cash interest paid 1,919
Non-cash issuance of preferred shares 3,327
Non-cash issuance of common shares $ 162,134