v3.26.1
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parentheticals) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Amortized cost $ 825,117 [1],[2],[3],[4] $ 820,363 [5],[6],[7],[8]
Preferred stock, par or stated value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 50,000,000 50,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par or stated value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 450,000,000 450,000,000
2026 Notes    
Net of unamortized debt issuance costs $ 0 $ 75
2027 Notes    
Net of unamortized debt issuance costs 259 329
8.11% 2028 Notes    
Net of unamortized debt issuance costs $ 455 516
8.11% 2028 Notes | Unsecured Debt    
Stated interest rate 8.11%  
7.50% 2028 Notes    
Net of unamortized debt issuance costs $ 106 0
7.50% 2028 Notes | Unsecured Debt    
Stated interest rate 7.50%  
Investment, Unaffiliated Issuer    
Amortized cost $ 808,844 804,090
Investment, Affiliated Issuer, Noncontrolled    
Amortized cost $ 16,273 $ 16,273
[1] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $74.8 million, $96.2 million and $21.4 million, respectively, for the March 31, 2026 investment portfolio. The tax cost of investments is $807.0 million.
[2] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of March 31, 2026, the Company’s portfolio company investments that were subject to restrictions on sales totaled $784.8 million at fair value and represented 223.6% of the Company’s net assets. In addition, unless otherwise indicated, as of March 31, 2026, all investments are pledged as collateral as part of the Company’s revolving credit facility.
[3] Except for equity in five public companies, all investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”).
[4] Non-income producing investments.
[5] Gross unrealized gains, gross unrealized losses, and net unrealized losses for federal income tax purposes totaled $68.0 million, $86.7 million and $18.7 million, respectively, for the December 31, 2025 investment portfolio. The tax cost of investments is $802.3 million.
[6] The Company generally acquires its investments in private transactions exempt from registration under the Securities Act. Unless otherwise indicated, all of the Company’s portfolio company investments are subject to restrictions on sales. As of December 31, 2025, the Company’s portfolio company investments that were subject to restrictions on sales totaled $782.9 million at fair value and represented 221.4% of the Company’s net assets. In addition, unless otherwise indicated, as of December 31, 2025, all investments are pledged as collateral as part of the Company’s revolving credit facility.
[7] Except for equity in four public companies, all investments were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Board.
[8] Non-income producing investments.