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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
INCOME FROM INVESTMENTS/INVESTMENT INCOME:    
Interest income from investments $ 16,775  
Purchase discount accretion 18,932  
Less: interest and related expenses (2,253) $ (1,208)
Income from investments, net 33,454  
Dividend income   6,804
Interest income from mortgage loan investments   563
Other income   353
Total investment income   7,720
OTHER EXPENSES/EXPENSES:    
Base management fees 3,221  
General and administrative expenses 3,091  
Reimbursement of shared services expenses 1,565  
Other transaction related costs 589  
Total other expenses 8,466  
Advisory   2,364
Legal   362
Compliance and internal audit   145
Shareholder reporting   110
Custodian   86
Administrative   77
Preferred share remarketing and auction fees   65
Trustees' fees and expenses   55
Audit   49
Other   424
Total expenses before interest expense   3,737
Interest expense 2,253 1,208
Total expenses   4,945
Income before income tax expense 24,988  
Income tax expense (338) (2,386)
Net income $ 24,650  
Net investment income   2,775
Weighted average common shares outstanding- basic (in shares) 11,304  
Weighted average common shares outstanding, diluted (in shares) 11,304  
Net income per common share, basic (in dollars per share) $ 2.18  
Net income per common share, diluted (in dollars per share) $ 2.18  
Realized and change in unrealized gains (losses) on investments    
Net realized gain on investments before taxes   13,208
Income tax expense $ 338 2,386
Net realized gains on investments after taxes   10,822
Net change in unrealized loss on investments   (69,278)
Net realized and change in unrealized loss on investments after taxes   (58,456)
Net decrease in net assets before preferred distributions resulting from operations   (55,681)
Distributions to preferred shareholders from net investment income   (323)
Net decrease in net assets attributable to common shares resulting from operations   $ (56,004)