v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net increase (decrease) in net assets resulting from operations $ 2,778 $ (21,436)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:    
Amortization of debt issuance costs 567 653
Net realized loss (gain) on investments 161 (1)
Net realized loss on extinguishment of debt 1,432 0
Net unrealized depreciation on investments 4,600 32,156
Purchase of investments (90,004) (73,689)
Principal payments received on investments 38,048 50,745
PIK interest on investments (1,278) (285)
Proceeds from sale of investments 104 1
Warrants received in settlement of fee income 0 (5)
Accrued interest converted to common stock 32 0
Changes in assets and liabilities:    
Increase in interest receivable (977) (931)
Decrease in end-of-term payments 321 1,111
Decrease in unearned income (84) (584)
(Increase) decrease in other assets (1,051) 125
Increase (decrease) in other accrued expenses 1,393 (1,033)
Increase (decrease) in base management fee payable 66 (12)
Increase in incentive fee payable 1,765 0
Net cash used in operating activities (42,127) (13,185)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of offering costs 10 3,602
Advances on Credit Facilities 45,000 15,000
Debt issuance costs (124) (10)
Distributions paid (14,690) (12,741)
Net cash used in financing activities (27,304) (10,219)
Net decrease in cash, cash equivalents and restricted cash (69,431) (23,404)
Cash, cash equivalents and restricted cash:    
Beginning of period 142,693 100,868
End of period 73,262 77,464
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,416 7,962
Supplemental non-cash operating and financing activities:    
Refinanced debt investment balances 30,000 28,750
Warrant investments received and recorded as unearned income 913 160
Debt converted to common stock 15,050 0
Distributions payable 2,872 13,310
End-of-term payments receivable 9,421 12,417
Non-cash income 2,762 2,009
Cash 34,489 33,033
Investments in money market funds 36,139 40,968
Restricted investments in money market funds 2,634 3,463
Total cash, cash equivalents and restricted cash 73,262 77,464
Asset-backed Notes 2019 [Member]    
Cash flows from financing activities:    
Repayment of note 0 (16,070)
The 2026 Notes [Member]    
Cash flows from financing activities:    
Repayment of note $ (57,500) $ 0