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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net Interest Income        
Interest income $ 39,577 $ 41,195 $ 75,219 $ 87,212
Interest expense (includes $3,476, $3,662, $6,919 and $7,355 on securitized debt held by affiliates, respectively) 33,342 34,605 64,701 71,374
Net Interest Income 6,235 6,590 10,518 15,838
Other Income (Loss)        
Realized loss, net (45,661) (116) (33,516) (5,841)
Unrealized gain (loss), net 16,185 (42,318) (22,718) (33,268)
Gain on derivative instruments, net 4,781 175 11,717 201
Other, net (46) 200 (191) 172
Other Income (Loss) (24,741) (42,059) (44,708) (38,736)
Expenses        
Management fee to affiliate 1,002 1,490 2,102 2,967
Other operating expenses 262 428 558 820
Transaction costs 344 0 2,955 0
General and administrative expenses:        
Compensation expense 130 651 628 1,359
Professional fees 1,552 1,038 2,808 1,917
Other general and administrative expenses 637 984 1,373 2,046
Total general and administrative expenses 2,319 2,673 4,809 5,322
Total Expenses 3,927 4,591 10,424 9,109
Loss before income taxes (22,433) (40,060) (44,614) (32,007)
Income tax provision (benefit) (46) 101 10 199
Net loss (22,387) (40,161) (44,624) (32,206)
Net income attributable to non-controlling interest 0 2 3,616 4
Net loss attributable to common stockholders and participating securities $ (22,387) $ (40,163) $ (48,240) $ (32,210)
Net income (loss) per Common Share — Basic (in dollars per share) [1] $ (3.71) $ (6.61) $ (8.00) $ (5.31)
Net income (loss) per Common Share — Diluted (in dollars per share) [1] $ (3.71) $ (6.61) $ (8.00) $ (5.31)
[1] Amounts have been adjusted to reflect the one-for-ten reverse stock split effected July 11, 2022. See Note 2 and Note 12 for additional details