XML 27 R21.htm IDEA: XBRL DOCUMENT
v3.25.3

Subsequent Events | 9 Months Ended
--- | ---
Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | Note 11. Subsequent Events Portfolio and Investment Activity On October 1, 2025, the Company invested $16,000 in first lien debt, $1,000 in common equity, and committed up to an additional $250 in common equity in Bobcat of Connecticut, LLC, a leading regional equipment dealer distributing new/used equipment and selling post-sale parts, service and rental solutions in the Northeast U.S. On October 17, 2025, the Company invested $23,201 in first lien debt in GPS Insight, Inc., a provider of fleet management and field service software. On October 20, 2025, the Company exited its preferred and common equity investments in Aldinger Company. The Company received a distribution on its preferred and common equity investments for a realized gain of approximately $2,327. On October 22, 2025, the Company exited its common equity investment in GP&C Operations, LLC (dba Garlock Printing and Converting). The Company received a distribution on its common equity investment for a realized gain of approximately $600. On October 24, 2025, the Company exited its subordinated debt investment in AmeriWater, LLC. The Company received payment in full of $2,511 on its subordinated debt. Issuance of Additional March 2030 Notes On October 3, 2025, the Company issued an additional $100,000 in aggregate principal amount of the March 2030 Notes (the “New March 2030 Notes”). The New March 2030 Notes are treated as a single series with the March 2030 Notes under the governing indenture and have the same terms as the March 2030 Notes (except the issue date, the offering price and the initial interest payment date). The New March 2030 Notes have the same CUSIP number and are fungible and rank equally with the March 2030 Notes. Upon issuance of the New March 2030 Notes, the outstanding aggregate principal amount of the March 2030 Notes was $200,000. SBA Debentures On October 14, 2025, the Company issued an additional $3,500 in SBA debentures, which will bear interest at a fixed interim interest rate of 4.74% until the pooling date in March 2026. On October 21, 2025, the Company issued an additional $13,000 in SBA debentures, which will bear interest at a fixed interim interest rate of 4.73% until the pooling date in March 2026. SPV Credit Facility On October 16, 2025, the Company entered into a credit and security agreement (the “SPV Credit Agreement”) relating to a special purpose vehicle credit facility (the “SPV Credit Facility”) by and among FIC Funding, LLC (the “SPV”), as borrower, the Company, as servicer and equityholder, ING, as administrative agent (the “Administrative Agent”) and lead arranger, Western Alliance Trust Company, N.A., as custodian, collateral agent, and collateral administrator, and the lenders from time to time parties thereto. The SPV Credit Facility provides for $175 million of initial commitments, and has an accordion feature that allows for an increase of the total commitments to up to $250 million, subject to certain conditions (including the consent of the Administrative Agent). The SPV Credit Facility has a reinvestment period until October 16, 2029 and matures on October 16, 2030. The advances under the SPV Credit Facility bear interest, subject to the Company’s election, on a per annum basis equal to one-month Term SOFR plus 0.11448% and an applicable margin ranging from 2.500% to 2.675%. The SPV pays a commitment fee that varies depending on the size of the unused portion of the SPV Credit Facility: (1) if the utilized portion of the aggregate commitments as of the close of business on such day is less than 35% of the aggregate commitments (the “Minimum Utilization Amount”), the commitment fee will equal the sum of (a) the then applicable margin multiplied by (i) the Minimum Utilization Amount minus (ii) the aggregate outstanding principal balance of the advances on such day and (b) 0.50% multiplied by 65% of the commitments and (2) if the utilized portion of the aggregate commitments is greater than or equal to the Minimum Utilization Amount, the commitment fee will equal 0.50% multiplied by the unused amount of the commitments. Borrowing under the SPV Credit Facility is subject to, among other things, a minimum borrowing base. The SPV Credit Facility is secured primarily by a pledge of 100% of the equity interest in the SPV held by the Company and the SPV’s assets, which consist of certain bank loans or securities. The SPV has made customary representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. Termination of Revolving Credit Facility On October 16, 2025, the Company terminated in full (i) the Revolving Credit Agreement and (ii) the amended and restated guarantee, pledge and security agreement, dated as of April 24, 2019 (as amended from time to time, the “Guarantee and Security Agreement”), by and among the Company, as borrower, the subsidiary guarantors party thereto, ING, as revolving administrative agent, each financing agent and designated indebtedness holder party thereto, and ING, as collateral agent. The Revolving Credit Agreement and the Guarantee and Security Agreement were terminated concurrently with the satisfaction of all obligations and liabilities of the Company to the lending parties thereunder, including, without limitation, payments of principal and interest, other fees, breakage costs and other amounts owing to the lending parties. Distributions On November 3, 2025, the Board declared a regular quarterly dividend of $0.43 per share and a supplemental dividend of $0.07 per share payable on December 29, 2025, to stockholders of record as of December 19, 2025. Full Redemption of January 2026 Notes On November 3, 2025, the Company fully redeemed the outstanding $100,000 in aggregate principal amount of the January 2026 Notes for a total redemption price of $101,227, which equaled 100% of the aggregate principal amount of the January 2026 Notes being redeemed on redemption date, plus accrued and unpaid interest to, but excluding, the redemption date.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration