v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash Flows from Operating Activities:          
Net increase (decrease) in net assets resulting from operations $ 10,667 $ 13,174 $ 16,826 $ 25,863  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Fundings and purchases of investments     (73,789) (109,257)  
Principal payments and proceeds from investments     86,347 86,260  
Payment-in-kind interest on investments (3,039) (5,250) (6,533) (9,007)  
Net change in unrealized (gains) losses on investments 10,600 (1,900) 13,275 (1,628)  
Net realized (gains) losses on investments     (12,642) (2,222)  
Amortization and (accretion) of premiums and discounts, net     (2,382) (4,042)  
(Accretion) reduction of end-of-term payments, net of prepayments     (1,476) (1,739)  
Amortization of debt fees and issuance costs     1,060 1,312  
Change in operating assets and liabilities:          
Prepaid expenses and other assets     (5,416) (571)  
Base management fee payable     11 (140)  
Income incentive fee payable     0 0  
Other accrued expenses and liabilities     (4,920) (2,407)  
Net cash (used in) provided by operating activities     10,361 (17,578)  
Cash Flows from Financing Activities:          
Borrowings under revolving credit facility     113,000 45,000  
Repayments under revolving credit facility     (13,000) 0  
Distributions paid     (17,622) (22,873)  
Deferred credit facility costs     (18) 0  
Debt issuance costs     (278) (738)  
Net cash provided by (used in) financing activities     (42,918) 1,389  
Net change in cash, cash equivalents and restricted cash     (32,557) (16,189)  
Cash, cash equivalents and restricted cash at beginning of period     47,367 78,727 $ 78,727
Cash, cash equivalents and restricted cash at end of period 14,810 62,538 14,810 62,538 47,367
Cash and cash equivalents 13,999 62,391 13,999 62,391 20,364
Restricted cash 811 147 811 147 27,003
Total cash, cash equivalents and restricted cash shown in the statement of cash flows 14,810 62,538 14,810 62,538 $ 47,367
Supplemental Disclosures of Cash Flow Information:          
Cash paid for interest     16,109 10,452  
Distributions reinvested     1,027 1,239  
Excise tax paid     1,529 1,562  
7.50% 2028 Notes          
Cash Flows from Financing Activities:          
Proceeds from issuance of notes     75,000 0  
7.50% 2028 Notes | Unsecured Debt          
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Amortization of debt fees and issuance costs 36 0 41 0  
8.11% 2028 Notes          
Cash Flows from Financing Activities:          
Proceeds from issuance of notes     0 50,000  
8.11% 2028 Notes | Unsecured Debt          
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Amortization of debt fees and issuance costs 61 60 122 89  
2025 Notes          
Cash Flows from Financing Activities:          
Repayment of notes     0 (70,000)  
2025 Notes | Unsecured Debt          
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Amortization of debt fees and issuance costs 0 0 0 52  
2026 Notes          
Cash Flows from Financing Activities:          
Repayment of notes     (200,000) 0  
2026 Notes | Unsecured Debt          
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Amortization of debt fees and issuance costs $ 0 $ 112 $ 75 $ 222