v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Assets    
Investments, at fair value: $ 1,501,652 [1] $ 1,812,990 [2]
Cash 20,563 8,159
Interest and fees receivable on investments 29,923 27,979
Receivable due on investments sold and repaid 984 3,699
Prepaid expenses and other assets 1,628 1,973
Total assets 1,554,750 1,854,800
Liabilities    
Financing arrangements (net of unamortized debt issuance costs of $12,717 and $14,263, respectively) 884,283 1,125,580
Payable for investments purchased 3,322 2,529
Accounts payable and accrued expenses 896 785
Interest payable 7,166 5,764
Accrued management fees 5,737 6,423
Accrued subordinated incentive fee on income 2,615 3,882
Accrued administrative services expense 1,266 2,182
Share repurchases payable 0 27
Total liabilities 905,285 1,147,172
Commitments and contingencies (Note 4 and Note 11)
Shareholders' Equity    
Common stock, $0.001 par value; 500,000,000 shares authorized; 49,202,704 and 51,420,629 shares issued and 49,202,704 and 51,417,866 shares outstanding, respectively 49 51
Capital in excess of par value 986,777 1,004,496
Accumulated distributable losses (337,361) (296,919)
Total shareholders' equity 649,465 707,628
Total liabilities and shareholders' equity $ 1,554,750 $ 1,854,800
Net asset value per share of common stock at end of period (in dollars per share) $ 13.20 $ 13.76
Non-controlled, non-affiliated investments    
Assets    
Investments, at fair value: $ 684,083 $ 1,158,985
Non-Controlled, Affiliated Investments    
Assets    
Investments, at fair value: 432,712 364,335
Controlled Investments    
Assets    
Investments, at fair value: $ 384,857 $ 289,670
[1] Fair value determined in good faith by CION Investment Management, LLC, or CIM, as the Company’s valuation designee, subject to oversight of the Company's board of directors (see Note 9 and Note 2), using significant unobservable inputs unless otherwise noted.
[2] Fair value determined in good faith by CIM, as the Company's valuation designee, subject to the oversight of the Company's board of directors (see Note 9 and Note 2), using significant unobservable inputs unless otherwise noted.