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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Investment income          
Fee income $ 4,561 $ 1,543 $ 8,570 $ 3,356 $ 5,927
Total investment income 54,163 42,620 139,398 116,944 157,348
Operating expenses          
Management fees 6,942 8,443 20,436 24,469 31,143
Administrative services expense 733 722 2,234 2,103 3,069
Subordinated incentive fee on income 5,421 2,933 13,645 2,933 6,875
General and administrative 2,027 2,709 5,961 7,950 9,805
Interest expense 13,469 8,175 32,769 23,551 31,807
Total operating expenses 28,592 22,982 75,045 61,006 82,699
Net investment income before taxes 25,571 19,638 64,353 55,938 74,649
Income tax expense, including excise tax 14 26 25 41 342
Net investment income after taxes 25,557 19,612 64,328 55,897 74,307
Realized and unrealized gains (losses)          
Net realized (losses) gains (17,166) 19,729 (17,055) 16,053 843
Net realized (loss) gain on foreign currency (3) 7 (3) (4) (3)
Net realized (losses) gains (17,169) 19,736 (17,058) 16,049 840
Net change in unrealized appreciation (depreciation) 25,595 (14,240) (6,664) 30,845 43,617
Net realized and unrealized gains (losses) 8,426 5,496 (23,722) 46,894 44,457
Net increase in net assets resulting from operations $ 33,983 $ 25,108 $ 40,606 $ 102,791 $ 118,764
Per share information—basic and diluted          
Net (decrease) increase in net assets per share resulting from operations (in USD per share) [1] $ 0.60 $ 0.44 $ 0.71 $ 1.81 $ 2.09
Net investment income per share (in dollars per share) [1] $ 0.45 $ 0.35 $ 1.13 $ 0.98 $ 1.31
Weighted average shares of common stock outstanding - basic (in shares) [1] 56,816,992,000 56,774,323,000 56,910,773,000 56,758,586,000 56,808,960,000
Weighted average shares of common stock outstanding - diluted (in shares) [1] 56,816,992,000 56,774,323,000 56,910,773,000 56,758,586,000 56,808,960,000
Non-controlled, non-affiliated investments          
Investment income          
Interest income $ 37,336 $ 31,036 $ 100,079 $ 87,305 $ 119,792
Paid-in-kind interest income 6,876 3,969 16,095 13,957 17,306
Fee income 4,542 1,543 8,045 3,356 5,927
Dividend income 57 81 103 254 366
Realized and unrealized gains (losses)          
Net realized (losses) gains 4,267 873 4,475 1,344 (4,100)
Net change in unrealized appreciation (depreciation) (669) 6,937 (25,646) 32,132 25,566
Non-controlled, affiliated investments          
Investment income          
Interest income 1,949 1,425 4,517 3,867 4,961
Paid-in-kind interest income 1,174 776 3,493 2,655 3,160
Fee income 19 0 525 0 0
Dividend income 13 3,790 66 5,550 5,576
Realized and unrealized gains (losses)          
Net realized (losses) gains (21,433) 18,856 (21,530) 17,776 8,010
Net realized (losses) gains     (21,530)   8,010
Net change in unrealized appreciation (depreciation) 18,966 (21,177) 13,609 (4,354) 7,261
Controlled investments          
Investment income          
Interest income 2,197 0 6,066 0 260
Paid-in-kind interest income 0 0 409 0 0
Dividend income     0   0
Realized and unrealized gains (losses)          
Net realized (losses) gains 0 0 0 (3,067) (3,067)
Net realized (losses) gains     0   (3,067)
Net change in unrealized appreciation (depreciation) $ 7,298 $ 0 $ 5,373 $ 3,067 $ 10,790
[1] As discussed in Note 3, the Company completed a two-to-one reverse stock split, effective as of September 21, 2021. The weighted average shares used in the computation of the net increase in net assets per share resulting from operations and net investment income per share reflect the reverse stock split on a retroactive basis.