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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Investment Income:      
Total interest income $ 18,684 $ 19,917 $ 19,210
Total dividend income 4,354 4,347 3,107
Total other income 1,391 990 580
Total investment income 24,429 25,254 22,897
Expenses:      
Management fees 3,205 3,182 2,511
Incentive fees 565 (4,323) 1,020
Administration fees 938 673 729
Custody fees 53 54 51
Directors’ fees 215 233 198
Professional services 1,967 1,937 1,441
Interest expense 10,690 10,428 9,126
Other expenses 937 737 655
Total expenses 18,570 12,921 15,731
Incentive fee waiver (4,854)    
Net expenses 13,716 12,921 15,731
Net investment income before taxes 10,713 12,333 7,166
Excise tax 252 48 17
Net investment income 10,461 12,285 7,149
Net realized and unrealized gains (losses):      
Realized gain on repurchase of debt     1,237
Total net realized gain (loss) (126,046) (9,639) (9,749)
Total net change in unrealized appreciation (depreciation) 100,002 (12,921) (29,356)
Net realized and unrealized gains (losses) (26,044) (22,560) (39,105)
Net increase (decrease) in net assets resulting from operations $ (15,583) $ (10,275) $ (31,956)
Net investment income per share (basic and diluted): [1],[2] $ 1.67 $ 3.02 $ 3.22
Earnings per share, basic [2] (2.49) (2.52) (14.41)
Earnings per share,diluted [2] $ (2.49) $ (2.52) $ (14.41)
Weighted average shares outstanding basic [2] 6,251,391 4,073,454 2,218,244
Weighted average shares outstanding diluted [2] 6,251,391 4,073,454 2,218,244
Non-affiliated, Non-controlled Investments      
Investment Income:      
Total interest income $ 15,325 $ 13,100 $ 12,740
Total dividend income 1,815 1,713 867
Total other income 1,391 683 125
Net realized and unrealized gains (losses):      
Total net realized gain (loss) (15,262) (5,770) (9,604)
Total net change in unrealized appreciation (depreciation) 267 19,019 (14,520)
Non-affiliated, non-controlled investments (PIK)      
Investment Income:      
Total interest income 1,220 387 22
Total other income     368
Affiliated Investments      
Investment Income:      
Total interest income 97 910 981
Net realized and unrealized gains (losses):      
Total net realized gain (loss) (110,784) (4,162)  
Total net change in unrealized appreciation (depreciation) 106,945 (33,763) (18,455)
Affiliated investments (PIK)      
Investment Income:      
Total interest income 58 4,874 5,218
Total other income   282 75
Controlled Investments      
Investment Income:      
Total interest income 1,984 646 249
Total dividend income 2,539 2,634 2,240
Total other income   25 12
Net realized and unrealized gains (losses):      
Total net realized gain (loss)   293 (1,382)
Total net change in unrealized appreciation (depreciation) $ (7,210) $ 1,823 $ 3,619
[1] The per share data was derived by using the weighted average shares outstanding during the period, except where such calculations deviate from those specified under the instructions to Form N-2. Per share data and shares outstanding have been adjusted for the periods shown to reflect the six-for-one reverse stock split effected on February 28, 2022 on a retrospective basis, as described in Note 2.
[2] Weighted average shares outstanding and per share amounts have been adjusted for the periods shown to reflect the six-for-one reverse stock split effected on February 28, 2022 on a retroactive basis as described in Note 2.