Share Data and Net Assets (Tables)
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12 Months Ended |
Sep. 30, 2023 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share, pursuant to ASC Topic 260-10, Earnings per Share, for the years ended September 30, 2023, 2022 and 2021: | | | | | | | | | | | | | | | | | | | | | | (Share amounts in thousands) | | Year ended
September 30,
2023 | | Year ended
September 30,
2022 | | Year ended
September 30,
2021 | | Earnings (loss) per common share — basic and diluted: | | | | | | | | Net increase (decrease) in net assets resulting from operations | | $ | 117,331 | | | $ | 29,223 | | | $ | 237,260 | | | Weighted average common shares outstanding — basic and diluted | | 72,119 | | | 60,727 | | | 54,039 | | | Earnings (loss) per common share — basic and diluted | | $ | 1.63 | | | $ | 0.48 | | | $ | 4.39 | |
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| Schedule of Changes in Net Assets |
The following table presents the changes in net assets for the years ended September 30, 2023, 2022 and 2021: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | | | | | | | | (Share amounts in thousands) | | Shares | | Par Value | | Additional paid-in-capital | | Accumulated Overdistributed Earnings | | Total Net Assets | | Balance as of September 30, 2020 | | 46,987 | | | $ | 470 | | | $ | 1,488,713 | | | $ | (574,304) | | | $ | 914,879 | | | Net investment income | | — | | | — | | — | | 97,106 | | 97,106 | | Net unrealized appreciation (depreciation) | | — | | — | | — | | 114,519 | | 114,519 | | Net realized gains (losses) | | — | | — | | — | | 26,420 | | 26,420 | | (Provision) benefit for taxes on realized and unrealized gains (losses) | | — | | — | | — | | (785) | | (785) | | Distributions to stockholders | | — | | — | | — | | (82,020) | | (82,020) | | Reclassification of additional paid-in capital | | — | | — | | 74,271 | | (74,271) | | — | | Issuance of common stock in connection with the OCSI Merger | | 13,133 | | 131 | | 242,573 | | — | | 242,704 | | Issuance of common stock under dividend reinvestment plan | | 113 | | 1 | | 2,169 | | — | | 2,170 | | Repurchases of common stock under dividend reinvestment plan | | (113) | | (1) | | (2,169) | | — | | (2,170) | | Balance as of September 30, 2021 | | 60,120 | | | 601 | | | 1,805,557 | | | (493,335) | | | 1,312,823 | | | Net investment income | | — | | | — | | — | | 148,621 | | 148,621 | | Net unrealized appreciation (depreciation) | | — | | — | | — | | (136,248) | | (136,248) | | Net realized gains (losses) | | — | | — | | — | | 17,179 | | 17,179 | | (Provision) benefit for taxes on realized and unrealized gains (losses) | | — | | — | | — | | (329) | | (329) | | Distributions to stockholders | | — | | — | | — | | (118,657) | | (118,657) | | Issuance of common stock in connection with the "at the market" offering | | 934 | | 9 | | 20,613 | | — | | 20,622 | | Issuance of common stock under dividend reinvestment plan | | 166 | | 2 | | 3,407 | | — | | 3,409 | | Repurchase of common stock under dividend reinvestment plan | | (95) | | (1) | | (1,856) | | — | | (1,857) | | Balance as of September 30, 2022 | | 61,125 | | | 611 | | | 1,827,721 | | | (582,769) | | | 1,245,563 | | | Net investment income | | — | | | — | | — | | 180,697 | | 180,697 | | Net unrealized appreciation (depreciation) | | — | | — | | — | | (28,555) | | (28,555) | | Net realized gains (losses) | | — | | — | | — | | (33,155) | | (33,155) | | (Provision) benefit for taxes on realized and unrealized gains (losses) | | — | | — | | — | | (1,656) | | (1,656) | | Distributions to stockholders | | — | | — | | — | | (185,900) | | (185,900) | | Issuance of common stock in connection with the OSI2 Merger | | 15,860 | | 159 | | 333,875 | | — | | 334,034 | | Issuance of common stock in connection with the "at the market" offering | | 69 | | 1 | | 1,299 | | — | | 1,300 | | Issuance of common stock under dividend reinvestment plan | | 297 | | 3 | | 5,851 | | — | | 5,854 | | Repurchase of common stock under dividend reinvestment plan | | (126) | | (2) | | (2,416) | | — | | (2,418) | | Balance as of September 30, 2023 | | 77,225 | | | $ | 772 | | | $ | 2,166,330 | | | $ | (651,338) | | | $ | 1,515,764 | |
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| Schedule of Distributions |
The following table reflects the distributions per share that the Company has paid, including shares issued under the DRIP, on its common stock during the years ended September 30, 2023, 2022 and 2021: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Distribution | | Date Declared | | Record Date | | Payment Date | | Amount
per Share | | Cash
Distribution (3) | | DRIP Shares
Issued | | DRIP Shares
Value (3) | | | | Quarterly | | November 10, 2022 | | December 15, 2022 | | December 30, 2022 | | $ | 0.54 | | | $ | 32.0 | million | | 53,369 | | (1) | $ | 1.1 | million | | | | Special | | November 10, 2022 | | December 15, 2022 | | December 30, 2022 | | 0.42 | | | 24.8 | million | | 41,510 | | (1) | 0.8 | million | | | | Quarterly | | January 27, 2023 | | March 15, 2023 | | March 31, 2023 | | 0.55 | | | 41.1 | million | | 68,412 | | (2) | 1.3 | million | | | | Quarterly | | April 28, 2023 | | June 15, 2023 | | June 30, 2023 | | 0.55 | | | 41.3 | million | | 57,279 | | (2) | 1.1 | million | | | | Quarterly | | July 28, 2023 | | September 15, 2023 | | September 29, 2023 | | 0.55 | | | 40.9 | million | | 76,766 | | (1) | 1.5 million | | | | Total for the year ended September 30, 2023 | | $ | 2.61 | | | $ | 180.0 | million | | 297,336 | | | $ | 5.9 | million | | | | Distribution | | Date Declared | | Record Date | | Payment Date | | Amount
per Share | | Cash
Distribution | | DRIP Shares
Issued | | DRIP Shares
Value (3) | | | | Quarterly | | October 13, 2021 | | December 15, 2021 | | December 31, 2021 | | $ | 0.465 | | | $ | 27.2 | million | | 35,990 | | (1) | $ | 0.8 | million | | | | Quarterly | | January 28, 2022 | | March 15, 2022 | | March 31, 2022 | | 0.48 | | | 28.5 | million | | 34,804 | | (1) | 0.8 | million | | | | Quarterly | | April 29, 2022 | | June 15, 2022 | | June 30, 2022 | | 0.495 | | | 29.4 | million | | 43,676 | | (2) | 0.9 | million | | | | Quarterly | | July 29, 2022 | | September 15, 2022 | | September 30, 2022 | | 0.51 | | | 30.2 | million | | 51,181 | | (2) | 1.0 | million | | | | Total for the year ended September 30, 2022 | | $ | 1.95 | | | $ | 115.3 | million | | 165,651 | | | $ | 3.4 | million | | | | Distribution | | Date Declared | | Record Date | | Payment Date | | Amount
per Share | | Cash
Distribution | | DRIP Shares
Issued | | DRIP Shares
Value (3) | | | | Quarterly | | November 13, 2020 | | December 15, 2020 | | December 31, 2020 | | $ | 0.33 | | | $ | 15.0 | million | | 31,321 | | (2) | $ | 0.5 | million | | | | Quarterly | | January 29, 2021 | | March 15, 2021 | | March 31, 2021 | | 0.36 | | | 16.4 | million | | 27,234 | | (2) | 0.5 | million | | | | Quarterly | | April 30, 2021 | | June 15, 2021 | | June 30, 2021 | | 0.39 | | | 22.9 | million | | 25,660 | | (2) | 0.5 | million | | | | Quarterly | | July 30, 2021 | | September 15, 2021 | | September 30, 2021 | | 0.435 | | | 25.5 | million | | 28,358 | | (2) | 0.6 | million | | | | Total for the year ended September 30, 2021 | | $ | 1.515 | | | $ | 79.8 | million | | 112,573 | | | $ | 2.2 | million | | |
__________ (1) New shares were issued and distributed. (2) Shares were purchased on the open market and distributed. (3) Totals may not sum due to rounding.
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| Schedule of Common Stock Issued and Sold |
In connection with the "at the market" offering, the Company issued and sold 68,752 shares of common stock during the year ended September 30, 2023 for net proceeds of $1.3 million (net of offering costs). | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Shares Issued | | Gross Proceeds | | Placement Agent Fees | | Net Proceeds (1) | | Average Sales Price per Share (2) | | "At the market" offering | | 68,752 | | | $ | 1,384 | | | $ | 14 | | | $ | 1,370 | | | $ | 20.13 | |
(1) Net proceeds excludes offering costs of $0.1 million. (2) Represents the gross sales price before deducting placement agent fees and estimated offering expenses. In connection with the "at the market" offering, the Company issued and sold 933,733 shares of common stock during the year ended September 30, 2022 for net proceeds of $20.6 million (net of offering costs). | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Shares Issued | | Gross Proceeds | | Placement Agent Fees | | Net Proceeds (1) | | Average Sales Price per Share (2) | | "At the market" offering | | 933,733 | | | $ | 21,049 | | | $ | 210 | | | $ | 20,839 | | | $ | 22.54 | |
__________ (1) Net proceeds excludes offering costs of $0.2 million. (2) Represents the gross sales price before deducting placement agent fees and estimated offering expenses.
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