XML 24 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net increase (decrease) in net assets resulting from operations $ (33,093) $ 28,442 $ (465)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by operating activities:      
Net realized loss on investments, net of taxes 12,158 17,121 11,405
Net unrealized (appreciation) depreciation on investments, net of deferred taxes 32,815 (28,851) 9,007
Loss on extinguishment of debt 504 0 213
Amortization of deferred debt issuance costs 1,571 1,505 1,528
Write-off of deferred offering costs 0 99 0
Amortization of intangible asset 0 69 408
Amortization of Net Loan Fees (983) (1,649) (1,836)
Amendment fees received 58 281 250
Payment-in-kind interest and dividend income (2,719) (2,733) (2,597)
Accretion of interest income on Structured Finance Securities (11,558) (8,731) (10,857)
Purchase and origination of portfolio investments (50,530) (93,370) (41,736)
Proceeds from principal payments on portfolio investments 26,913 67,144 83,004
Proceeds from sale or redemption of portfolio investments 46,788 46,110 18,930
Distributions received from portfolio investments 14,922 15,595 14,483
Changes in operating assets and liabilities:      
Interest and dividend receivable 1,055 443 (15)
Receivable for investments sold 9,247 (9,247) 0
Interest payable (926) (517) (235)
Payable to investment adviser and affiliates (881) (411) (353)
Payable for investments purchased (1,802) 1,802 0
Other assets and liabilities 100 (92) 432
Net cash provided by operating activities 43,639 33,010 81,566
Cash flows from financing activities      
Distributions paid to common stockholders (15,944) (18,221) (17,954)
Borrowings under revolving lines of credit 27,450 17,500 26,550
Repayments under revolving lines of credit (40,350) (39,650) (40,750)
Proceeds from Unsecured Notes issuances, net of commissions and discounts 91,870 0 0
Redemption of Unsecured Notes (109,000) 0 0
Repayments of SBA debentures 0 (31,920) (19,000)
Payments of deferred debt issuance costs (374) 0 0
Net cash used in financing activities (46,348) (72,291) (51,154)
Net increase (decrease) in cash and cash equivalents (2,709) (39,281) 30,412
Cash and cash equivalents — beginning of year 6,068 45,349 14,937
Cash and cash equivalents — end of year 3,359 6,068 45,349
Supplemental Disclosure of Cash Flow Information:      
Cash paid for interest 15,865 15,660 18,189
Cash paid for taxes 21 182 31
Supplemental Disclosure of Non-Cash Activities:      
Reclassification of deferred offering costs from the issuance of Unsecured Notes $ 52 $ 0 $ 0