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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investment income:        
Payment-in-kind interest income $ 2,503 $ 951 $ 6,024 $ 1,823
Dividend income 16 16 357 56
Other income 444 409 1,170 879
Expenses:        
Interest and debt financing expenses 23,198 16,048 58,860 43,089
Management fees (See Note 5) 3,873 2,722 10,727 7,503
Incentive fees on net investment income 5,496 0 13,030 0
Professional fees 912 730 2,315 2,284
Directors' fees 128 96 383 287
Administration fees (See Note 5) 535 370 1,561 1,029
Other general and administrative expenses 145 125 888 653
Total expenses before expense support and incentive fees waived 34,287 20,091 87,764 54,845
Expense support (See Note 5) 0 0 0 (158)
Incentive fees waived (See Note 5) (5,496) 0 (13,030) 0
Net Expenses after expense support 28,791 20,091 74,734 54,687
Net investment income 31,489 21,655 92,230 58,120
Realized and unrealized gain (loss) on investments:        
Net realized gain (loss) on non-controlled/non-affiliated company investments     (1,522) (6,408)
Net change in unrealized appreciation (depreciation):        
Non-controlled/non-affiliated company investments     (3,995) (3,805)
Net increase (decrease) in net assets resulting from operations $ 36,643 $ 20,149 $ 86,872 $ 47,172
Per share data:        
Net investment income per share - basic (in dollars per share) $ 0.58 $ 0.62 $ 1.71 $ 1.85
Net investment income per share - diluted (in dollars per share) 0.58 0.62 1.71 1.85
Net increase (decrease) in net assets resulting from operations per share - basic and diluted (in dollars per share) $ 0.67 $ 0.58 $ 1.61 $ 1.50
Weighted average common shares outstanding - basic (in shares) 54,688,860 34,812,720 54,080,979 31,409,296
Weighted average common shares outstanding - diluted (in shares) 54,688,860 34,812,720 54,080,979 31,409,296
Non-controlled/Non-affiliated        
Investment income:        
Interest income $ 57,317 $ 40,370 $ 159,413 $ 110,049
Payment-in-kind interest income 2,503 951 6,024 1,823
Dividend income 16 16 357 56
Other income 444 409 1,170 879
Total investment income 60,280 41,746 166,964 112,807
Realized and unrealized gain (loss) on investments:        
Net realized gain (loss) on non-controlled/non-affiliated company investments 1,086 (13,107) (1,522) (6,408)
Net change in unrealized appreciation (depreciation):        
Non-controlled/non-affiliated company investments 4,050 11,574 (3,995) (3,805)
Income tax (provision) benefit 18 27 159 (735)
Total net change in unrealized gain (loss) 4,068 11,601 (3,836) (4,540)
Total net realized and unrealized gain (loss) on investments $ 5,154 $ (1,506) $ (5,358) $ (10,948)