CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 24,650
Net decrease in net assets before preferred distributions resulting from operations		$ (55,681)
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of purchase discount	(18,932)
Share based compensation	627
Amortization of deferred financing costs	211
Amortization of loan origination and exit fees	(1,679)
Origination of loans held for investment		(91,879)
Purchases of long term investments		(10,078)
Proceeds from sales of long term investments		302,797
Net sales of short term investments		4,477
Decrease in payable for securities purchased		(10)
Changes in operating assets and liabilities:
Accrued interest receivable and interest advances	(1,107)
Prepaid expenses and other assets	(932)
Accounts payable, accrued liabilities and deposits	(2,329)
Due to related persons	283
Decrease in dividends and interest receivable and other assets		2,436
Increase in accrued income taxes		2,386
Increase in accrued expenses and other liabilities		430
Increase in prepaid expenses		(296)
Decrease in advisory fee payable		(118)
Decrease in interest payable		(212)
Decrease in compliance and internal audit costs payable		(6)
Increase in administrative fee payable		3
Net change in unrealized loss on investments		69,278
Net realized gain on investments and foreign currency transactions		(13,208)
Net cash provided by operating activities	792	210,319
CASH FLOWS FROM INVESTING ACTIVITIES:
Origination of loans held for investment	(343,471)
Additional funding of loans held for investment	(4,343)
Repayment of loans held for investment	59,041
Payment of merger related costs	(6,160)
Cash assumed in merger	11,070
Net cash used in investing activities	(283,863)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from secured financing facilities	249,804
Repayments under secured financing facilities	(37,897)
Payments of deferred financing costs	(1,453)
Repurchase of common shares	(57)
Distributions	(4,595)
Distributions paid to preferred shareholders		(323)
Distributions paid to common shareholders		(6,427)
Repayment of RMR credit agreement		(88,000)
Redemption of auction preferred shares		(16,675)
Net cash provided by financing activities	205,802	(111,425)
Decrease in cash, cash equivalents and restricted cash	(77,269)	98,894
Cash, cash equivalents and restricted cash at beginning of period	103,564	4,670
Cash, cash equivalents and restricted cash at end of period	26,295	103,564
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	1,718	1,420
Income taxes paid	2,681
NON-CASH INVESTING ACTIVITIES
Loans held for investment acquired by issuance of common shares	162,990
Working capital net liabilities assumed	924
NON-CASH FINANCING ACTIVITIES
Assumption of master repurchase facility	128,962
Issuance of common shares	44,175
Cash and cash equivalents	26,197	103,314
Restricted cash	98	250
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 26,295	$ 103,564