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SIERRA ACQUISITION (Tables) | 9 Months Ended
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Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Sierra Acquisition | The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Sierra Acquisition:
($ in thousands) |  |
Common stock issued by the Company |  | $ | 499,418 |
Cash consideration paid by the Company(1) |  | 10,670 |
Deemed contribution from Barings LLC |  | 27,729 |
Total purchase price |  | $ | 537,817 |
Assets acquired: |  |
Investments(2) |  | $ | 442,198 |
Cash |  | 102,006 |
Other assets(3) |  | 3,519 |
Total assets acquired |  | $ | 547,723 |
Liabilities assumed(4) |  | (9,906) |
Net assets acquired |  | $ | 537,817 |
(1)The Company incurred $10.6 million in professional fees and other costs related to the Sierra Acquisition, including $4.0 million in investment banking fees. (2)Investments acquired were recorded at fair value, which is also the Company's initial cost basis (3)Other assets acquired in the Sierra Acquisition consisted of the following:
($ in thousands) |  |
Interest and fees receivable |  | $ | 2,874 |
Escrow receivable |  | 645 |
Total |  | $ | 3,519 |
(4)Liabilities assumed in the Sierra Acquisition consisted of the following:
($ in thousands) |  |
Accrued merger expenses |  | $ | 3,327 |
Current and deferred tax liability |  | 3,814 |
Other liabilities |  | 2,765 |
Total |  | $ | 9,906 |

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- Definition Tabular disclosure of asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 50 -Section 15 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=6911878&loc=d3e8732-128492 + Details
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