XML 23 R12.htm IDEA: XBRL DOCUMENT

Note 5 - Transactions With Affiliated Companies

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 were as follows:

										*Three months ended June 30, 2024*

		*Fair value at*												*Transfers*								*Net*								*Fair value at*
Portfolio		*March 31,*								*Principal*				*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*June 30,*
Company		*2024*				*Purchases*				*Payments*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2024*
		(In thousands)
Aulea Medical, Inc.		$	—			$	—			$	(40	)		$	—			$	—			$	—			$	40			$	—
Evelo Biosciences, Inc.			2,790				—				—				—				—				713				—				3,503
			4,207				92				—				—				—				1,041				—				5,340
			1,674				—				—				—				—				427				—				2,101
			1,674				—				—				—				—				427				—				2,101
			1,116				—				—				—				—				285				—				1,401
			1,116				—				—				—				—				285				—				1,401
Total non-controlled affiliates		$	12,577			$	92			$	(40	)		$	—			$	—			$	3,178			$	40			$	15,847

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

										*Three months ended June 30, 2023*

		*Fair value at*												*Transfers*								*Net*								*Fair value at*
Portfolio		*March 31,*												*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*June 30,*
Company		*2023*				*Purchases*				*Sales*				*fair value*				*Accretion*				*gain/(loss)*				*gain/(loss)*				*2023*
		(In thousands)
Cadrenal Therapeutics, Inc.			846				—				—				—				—				60				—				906
Total non-controlled affiliates		$	846			$	—			$	—			$	—			$	—			$	60			$	—			$	906

Transactions related to investments in non-controlled affiliated companies for the six months ended June 30, 2024 were as follows:

										*Six months ended June 30, 2024*
		*Fair value at*												*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*								*Principal*				*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*June 30,*
Company		*2023*				*Purchases*				*Payments*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2024*
		(In thousands)
Aulea Medical, Inc.		$	—			$	3			$	(40	)		$	—			$	—			$	—			$	37			$	—
Evelo Biosciences, Inc.			222				—				—				—				—				3,281				—				3,503
			336				104				—				—				—				4,900				—				5,340
			133				—				—				—				—				1,968				—				2,101
			133				—				—				—				—				1,968				—				2,101
			88				—				—				—				—				1,313				—				1,401
			88				—				—				—				—				1,313				—				1,401
			132				—				—				—				—				(132	)			—				—
Total non-controlled affiliates		$	1,132			$	107			$	(40	)		$	—			$	—			$	14,611			$	37			$	15,847

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

										*Six months ended June 30, 2023*

		*Fair value at*												*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*												*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*June 30,*
Company		*2022*				*Purchases*				*Sales*				*fair value*				*Accretion*				*gain/(loss)*				*gain/(loss)*				*2023*
		(In thousands)
Cadrenal Therapeutics, Inc.			—				—				—				—				—				906				—				906
Total non-controlled affiliates		$	—			$	—			$	—			$	—			$	—			$	906			$	—			$	906

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 June 30, 2024 were as follows:

										*Three months ended June 30, 2024*

		*Fair value at*																*Transfers*								*Net*								*Fair value at*
Portfolio		*March 31,*								*Principal*								*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*June 30,*				*Interest*
Company		*2024*				*Purchases*				*Payments*				*PIK*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2024*				*income*
		(In thousands)
Better Place Forests Co.		$	3,455			$	—			$	—			$	115			$	—			$	2			$	(406	)		$	—			$	3,166			$	120
			1,688				—				—				57				—				1				(197	)			—				1,549				62
			—				500				—				5				—				—				(85	)			—				420				5
			—				500				—				1				—				—				(86	)			—				415				1
			2,656				500				—				—				—				—				(3,156	)			—				—				—
HIMV LLC			5,845				—				—				—				463				—				(472	)			—				5,836				—
Total controlled affiliates		$	13,644			$	1,500			$	—			$	178			$	463			$	3			$	(4,402	)		$	—			$	11,386			$	188

Transactions related to investments in controlled affiliated companies for the six months ended June 30, 2024 were as follows:

										*Six months ended June 30, 2024*

		*Fair value at*																*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*								*Principal*								*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*June 30,*				*Interest*
Company		*2023*				*Purchases*				*Payments*				*PIK*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2024*				*income*
		(In thousands)
Better Place Forests Co.		$	3,339			$	—			$	—			$	226			$	—			$	4			$	(403	)		$	—			$	3,166			$	236
			1,630				—				—				112				—				3				(196	)			—				1,549				123
			—				500				—				5				—				—				(85	)							420				5
			—				500				—				1				—				—				(86	)							415				1
			3,024				1,250				—				—				—				—				(4,274	)			—				—				—
HIMV LLC			6,230				227				(547	)			—				463				—				(537	)			—				5,836				—
Total controlled affiliates		$	14,223			$	2,477			$	(547	)		$	344			$	463			$	7			$	(5,581	)		$	—			$	11,386			$	365

For the three and six months ended June 30, 2023, there were no transactions related to investments in controlled affiliated companies.