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Note 5 - Transactions With Affiliated Companies

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

Note 5. Transactions with affiliated companies

A non-controlled affiliated company is generally a portfolio company in which the Company owns 5% or more of such portfolio company’s voting securities but not more than 25% of such portfolio company’s voting securities.

Transactions related to investments in non-controlled affiliated companies for the three months ended September 30, 2023 were as follows:  

										Three months ended September 30, 2023
		Fair value at												Transfers								Net								Fair value at
Portfolio		June 30,								Principal				in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2023				Purchases				Payments				fair value				accretion				gain/(loss)				gain/(loss)				2023				income
		(In thousands)
Aulea Medical, Inc.		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Cadrenal Therapeutics, Inc. (1)			906				—				—				(906	)			—				—				—				—				—
Evelo Biosciences, Inc.			—				—				—				7,665				8				(5,007	)			—				2,666				277
			—				—				—				11,496				11				(7,510	)			—				3,997				415
			—				—				—				4,612				5				(3,013	)			—				1,604				166
			—				—				—				4,598				3				(3,004	)			—				1,597				163
			—				—				—				3,067				4				(2,003	)			—				1,068				114
			—				—				—				3,067				4				(2,003	)			—				1,068				111
			—				—				—				5,000				—				3,485				—				8,485				—
Total non-controlled affiliates		$	906			$	—			$	—			$	38,599			$	35			$	(19,055	)		$	—			$	20,485			$	1,246

(1) As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company. 

Transactions related to investments in non-controlled affiliated companies for the nine months ended  September 30, 2023 were as follows:  

										Nine months ended September 30, 2023
		Fair value at												Transfers								Net								Fair value at
Portfolio		December 31,								Principal				in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2022				Purchases				Payments				fair value				accretion				gain/(loss)				gain/(loss)				2023				income
		(In thousands)
Aulea Medical, Inc.		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Cadrenal Therapeutics, Inc. (1)			—				—				—				(906	)			—				906				—				—				—
Evelo Biosciences, Inc.			—				—				—				7,665				8				(5,007	)			—				2,666				277
			—				—				—				11,496				11				(7,510	)			—				3,997				415
			—				—				—				4,612				5				(3,013	)			—				1,604				166
			—				—				—				4,598				3				(3,004	)			—				1,597				163
			—				—				—				3,067				4				(2,003	)			—				1,068				114
			—				—				—				3,067				4				(2,003	)			—				1,068				111
			—				—				—				5,000				—				3,485				—				8,485				—
Total non-controlled affiliates		$	—			$	—			$	—			$	38,599			$	35			$	(18,149	)		$	—			$	20,485			$	1,246

(1) As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company. 

Transactions related to investments in non-controlled affiliated companies for the three months ended September 30, 2022 were as follows: 

										Three months ended September 30, 2022
		Fair value at												Transfers								Net								Fair value at
Portfolio		June 30,												in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2022				Purchases				Sales				fair value				Accretion				gain/(loss)				gain/(loss)				2022				income
		(In thousands)
MVI (ABC) LLC fka StereoVision, Inc.			—				—				(30	)			—				—				—				30				—				—
Total non-controlled affiliates		$	—			$	—			$	(30	)		$	—			$	—			$	—			$	30			$	—			$	—

Transactions related to investments in non-controlled affiliated companies for the nine months ended September 30, 2022 were as follows: 

										Nine months ended September 30, 2022
		Fair value at												Transfers								Net								Fair value at
Portfolio		December 31,												in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2021				Purchases				Sales				fair value				Accretion				gain/(loss)				gain/(loss)				2022				income
		(In thousands)
MVI (ABC) LLC fka StereoVision, Inc.			—				—				(30	)			—				—				—				30				—				—
Total non-controlled affiliates		$	—			$	—			$	(30	)		$	—			$	—			$	—			$	30			$	—			$	—

A controlled affiliated company is generally a portfolio company in which the Company owns more than 25% of such portfolio company’s voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement).

Transactions related to investments in controlled affiliated companies for the three months ended  September 30, 2023 were as follows:

										Three months ended September 30, 2023
		Fair value at																Transfers								Net								Fair value at
Portfolio		June 30,								Principal								in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2023				Purchases				Payments				PIK				fair value				accretion				gain/(loss)				gain/(loss)				2023				income
		(In thousands)
Better Place Forests Co.		$	—			$	59			$	—			$	105			$	1,759			$	2			$	1,080			$	—			$	3,005			$	111
			—				—				—				53				844				1				536				—				1,434				55
			—				—				—				—				2,061				—				—				—				2,061				—
			—				750				—				—				—				—				(259	)			—				491				—
HIMV LLC			—				—				—				—				6,154				—				—				—				6,154				—
Total controlled affiliates		$	—			$	809			$	—			$	158			$	10,818			$	3			$	1,357			$	—			$	13,145			$	166

Transactions related to investments in controlled affiliated companies for the nine months ended  September 30, 2023 were as follows:

										Nine months ended September 30, 2023
		Fair value at																Transfers								Net								Fair value at
Portfolio		December 31,								Principal								in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2022				Purchases				Payments				PIK				fair value				accretion				gain/(loss)				gain/(loss)				2023				income
		(In thousands)
Better Place Forests Co.		$	—			$	59			$	—			$	105			$	1,759			$	2			$	1,080			$	—			$	3,005			$	111
			—				—				—				53				844				1				536				—				1,434				55
			—				—				—				—				2,061				—				—				—				2,061				—
			—				750				—				—				—				—				(259	)			—				491				—
HIMV LLC			—				—				—				—				6,154				—				—				—				6,154				—
Total controlled affiliates		$	—			$	809			$	—			$	158			$	10,818			$	3			$	1,357			$	—			$	13,145			$	166

Transactions related to investments in controlled affiliated companies for the three months ended September 30, 2022 were as follows:

										Three months ended September 30, 2022
		Fair value at												Transfers								Net								Fair value at
Portfolio		June 30,												in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2022				Purchases				Sales				fair value				Accretion				gain/(loss)				gain/(loss)				2022				income
		(In thousands)
HESP LLC			—				—				(50	)			—				—				—				50				—				—
Total controlled affiliates		$	—			$	—			$	(50	)		$	—			$	—			$	—			$	50			$	—			$	—

Transactions related to investments in controlled affiliated companies for the nine months ended September 30, 2022 were as follows:

										Nine months ended September 30, 2022
		Fair value at												Transfers								Net								Fair value at
Portfolio		December 31,												in/(out) at				Discount				unrealized				Net realized				September 30,				Interest
Company		2021				Purchases				Sales				fair value				accretion				gain/(loss)				gain/(loss)				2022				income
		(In thousands)
HESP LLC			—				—				(300	)			—				—				1,450				(1,150	)			—				—
Total controlled affiliates		$	—			$	—			$	(300	)		$	—			$	—			$	1,450			$	(1,150	)		$	—			$	—

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- References

No definition available.

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X

- Definition

The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//946-320/tableOfContent

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