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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:        
Total investment income $ 13,579 $ 13,044 $ 41,475 $ 34,780
Operating expenses:        
Interest and other debt expenses 4,041 3,693 10,713 10,049
Management fees 829 723 2,473 2,028
Administrative expenses 55 27 154 118
Professional fees 73 225 239 390
Directors' fees 56 56 169 169
Custody and transfer agent fees 20 20 60 60
Incentive fees 1,134 421 4,005 974
Other operating expenses 73 117 229 318
Total operating expenses, before expense reimbursement 6,281 5,282 18,042 14,106
Expense reimbursement (59) (286) (197) (451)
Total operating expenses, net of expense reimbursement 6,222 4,996 17,845 13,655
Net investment income (loss) 7,357 8,048 23,630 21,125
Net realized and unrealized gain (loss) on derivatives (370) 8 384 216
Realized and unrealized gain (loss):        
Net realized gain (loss)     992 1,056
Foreign currency debt (810) (263) (1,474) (167)
Net realized gain (loss) (1,556) 935 (482) 889
Change in net unrealized appreciation (depreciation)     (807) (11,439)
Foreign currency investments 284 (896) (29) (1,029)
Foreign currency debt (2) 279 (2) 113
Net change in net unrealized appreciation (depreciation) (3,407) (6,603) (838) (12,355)
Net realized and unrealized gain (loss) (4,963) (5,668) (1,320) (11,466)
Net increase (decrease) in net assets from operations $ 2,024 $ 2,388 $ 22,694 $ 9,875
Net investment income (loss) per share, Basic $ 0.44 $ 0.56 $ 1.42 $ 1.59
Net investment income (loss) per share, Diluted 0.44 0.56 1.42 1.59
Earnings (loss) per share, Basic [1] 0.12 0.17 1.37 0.74
Earnings (loss) per share, Diluted [1] $ 0.12 $ 0.17 $ 1.37 $ 0.74
Weighted average shares outstanding - Basic 16,654,230 14,437,445 16,604,755 13,325,684
Weighted average shares outstanding - Diluted 16,654,230 14,437,445 16,604,755 13,325,684
Non-controlled/non-affiliated investments        
Investment income:        
Interest income, excluding payment-in-kind ("PIK") $ 11,737 $ 11,961 $ 33,530 $ 32,195
PIK interest income 346 193 1,631 590
Other income 106 179 2,666 746
Total investment income 12,189 12,333 37,827 33,531
Realized and unrealized gain (loss):        
Net realized gain (loss) (746) 1,198 981 1,056
Change in net unrealized appreciation (depreciation) (4,156) (6,227) (3,017) (11,491)
Non-controlled/affiliated investments        
Investment income:        
Interest income, excluding payment-in-kind ("PIK") 1,313 711 3,394 1,249
PIK interest income 77   254  
Total investment income 1,390 711 3,648 1,249
Realized and unrealized gain (loss):        
Net realized gain (loss)     11  
Change in net unrealized appreciation (depreciation) $ 467 $ 241 $ 2,210 $ 52
[1] Computed based on the weighted average shares outstanding and capital activity during the time periods such earnings occurred.