v3.26.3
Borrowings (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The following table shows the Company’s outstanding debt as of September 30, 2026 and December 31, 2025:
Liability
(in thousands)		September 30, 2026December 31, 2025
Total CommitmentBalance OutstandingUnused CommitmentTotal CommitmentBalance OutstandingUnused Commitment
Revolving Credit Facility$300,000 $150,000 $150,000 $300,000 $95,000 $205,000 
2026 Notes— — — 200,000 200,000 — 
2027 Notes125,000 125,000 — 125,000 125,000 — 
8.11% 2028 Notes
50,000 50,000 — 50,000 50,000 — 
7.50% 2028 Notes
75,000 75,000 — — — — 
Total before deferred financing and issuance costs550,000 400,000 150,000 675,000 470,000 205,000 
Unamortized deferred financing and issuance costs— (4,348)— — (5,563)— 
Total borrowings outstanding, net of deferred financing and issuance costs$550,000 $395,652 $150,000 $675,000 $464,437 $205,000 
Schedule of Interest Expense and Amortization of Fees
Interest expense on these borrowings includes the interest cost charged on borrowings, the unused fee on the Credit Facility (as defined below), paying and administrative agent fees, and the amortization of deferred Credit Facility fees and expenses and costs and fees relating to the Company’s unsecured notes outstanding. These expenses are shown in the table below:
Interest Expense and Amortization of Fees
(in thousands)		For the Three Months Ended September 30,For the Nine Months Ended September 30,
2026202520262025
Revolving Credit Facility
Interest cost$2,832 $761 $8,310 $1,545 
Unused fee169 295 505 1,007 
Amortization of costs and other fees595 641 1,743 1,904 
Revolving Credit Facility Total$3,596 $1,697 $10,558 $4,456 
2025 Notes
Interest cost$— $— $— $674 
Amortization of costs and other fees— — — 52 
2025 Notes Total$— $— $— $726 
2026 Notes
Interest cost$— $2,250 $1,500 $6,750 
Amortization of costs and other fees— 113 75 335 
2026 Notes Total$— $2,363 $1,575 $7,085 
2027 Notes
Interest cost$1,562 $1,562 $4,687 $4,687 
Amortization of costs and other fees71 70 212 210 
2027 Notes Total$1,633 $1,632 $4,899 $4,897 
8.11% 2028 Notes
Interest cost$1,139 $1,014 $3,416 $2,557 
Amortization of costs and other fees61 64 183 153 
8.11% 2028 Notes Total
$1,200 $1,078 $3,599 $2,710 
7.50% 2028 Notes
Interest cost$1,406 $— $3,313 $— 
Amortization of costs and other fees36 — 76 — 
7.50% 2028 Notes Total
$1,442 $— $3,389 $— 
Total interest expense and amortization of fees$7,871 $6,770 $24,020 $19,874 
Schedule of Fair Value, Liabilities Measured on Recurring Basis
The following table shows additional information about the level in the fair value hierarchy of the Company’s liabilities as of September 30, 2026 and December 31, 2025:
Liability
(in thousands)		September 30, 2026December 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Revolving Credit Facility$— $— $150,000 $150,000 $— $— $95,000 $95,000 
2026 Notes, net(1)
— — — — — — 202,017 202,017 
2027 Notes, net(2)
— — 123,836 123,836 — — 123,832 123,832 
8.11% 2028 Notes, net(3)
— — 49,922 49,922 — — 51,964 51,964 
7.50% 2028 Notes, net(4)
— — 74,369 74,369 — — — — 
Total$— $— $398,127 $398,127 $— $— $472,813 $472,813 
_______________
(1)Net of debt issuance costs as of September 30, 2026 and December 31, 2025 of $0.0 million and $0.1 million, respectively.
(2)Net of debt issuance costs as of September 30, 2026 and December 31, 2025 of $0.1 million and $0.3 million, respectively.
(3)Net of debt issuance costs as of September 30, 2026 and December 31, 2025 of $0.3 million and $0.5 million, respectively.
(4)Net of debt issuance costs as of September 30, 2026 of $0.2 million.