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Note 8 - Financial Instruments With Off-balance-sheet Risk | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Financial Instruments Disclosure [Text Block] | Note 8. Financial instruments with off-balance-sheet risk In the normal course of business, the Company is party to financial instruments with off-balance-sheet risk to meet the financing needs of its borrowers. These financial instruments include commitments to extend credit and involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated statement of assets and liabilities. The Company attempts to limit its credit risk by conducting extensive due diligence and obtaining collateral where appropriate. The balance of unfunded commitments to extend credit was $189.9 million and $180.5 million as of September 30, 2024 and December 31, 2023, respectively. Commitments to extend credit consist principally of the unused portions of commitments that obligate the Company to extend credit, often subject to financial or non-financial milestones and other conditions to borrow that must be achieved before the commitment can be drawn. In addition, the commitments generally have fixed expiration dates or other termination clauses. Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The following table provides the Company’s unfunded commitments by portfolio company as of September 30, 2024 and December 31, 2023:
|  | September 30, 2024 |  |  | December 31, 2023 |
|  |  |  |  |  | Fair Value of |  |  |  |  |  |  | Fair Value of |
|  |  |  |  |  | Unfunded |  |  |  |  |  |  | Unfunded |
|  | Commitment |  |  | Commitment |  |  | Commitment |  |  | Commitment |
|  | Amount |  |  | Liability |  |  | Amount |  |  | Liability |
|  | (In thousands) |  |  | (In thousands) |
Better Place Forests Co. |  | $ | 1,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
BrightInsight, Inc. |  |  | 10,000 |  |  |  | 132 |  |  |  | 15,500 |  |  |  | 241 |
Britecore Holdings, Inc. |  |  | 2,500 |  |  |  | 36 |  |  |  | 5,000 |  |  |  | 72 |
Candesant Biomedical Corporation |  |  | 10,000 |  |  |  | 151 |  |  |  | 10,000 |  |  |  | 151 |
Ceribell, Inc. |  |  | 21,000 |  |  |  | 120 |  |  |  | — |  |  |  | — |
Divergent Technologies, Inc. |  |  | — |  |  |  | — |  |  |  | 11,250 |  |  |  | 118 |
Elligo Healthcare Research, Inc. |  |  | 7,500 |  |  |  | 97 |  |  |  | 15,000 |  |  |  | 194 |
Fictiv, Inc. |  |  | 30,000 |  |  |  | 236 |  |  |  | — |  |  |  | — |
GT Medical Technologies, Inc. |  |  | 20,000 |  |  |  | 100 |  |  |  | — |  |  |  | — |
Hometeam Technologies, Inc. |  |  | 10,000 |  |  |  | 100 |  |  |  | — |  |  |  | — |
MicroTransponder, Inc. |  |  | 22,500 |  |  |  | — |  |  |  | 22,500 |  |  |  | — |
Mirantis, Inc. |  |  | — |  |  |  | — |  |  |  | 15,000 |  |  |  | 136 |
Optoro, Inc. |  |  | — |  |  |  | — |  |  |  | 6,250 |  |  |  | — |
Parse Biosciences, Inc. |  |  | 15,000 |  |  |  | 252 |  |  |  | 15,000 |  |  |  | 251 |
Pivot Bio, Inc. |  |  | 20,000 |  |  |  | 209 |  |  |  | — |  |  |  | — |
SafelyYou, Inc. |  |  | 10,000 |  |  |  | 147 |  |  |  | 20,000 |  |  |  | 270 |
Sonex Health, Inc. |  |  | — |  |  |  | — |  |  |  | 15,000 |  |  |  | 176 |
Standvast Holdings, LLC |  |  | 5,000 |  |  |  | 175 |  |  |  | — |  |  |  | — |
Supply Network Visibility Holdings, LLC |  |  | 5,000 |  |  |  | 17 |  |  |  | 10,000 |  |  |  | 35 |
Swift Health Systems, Inc. |  |  | 375 |  |  |  | — |  |  |  | — |  |  |  | — |
Tallac Therapeutics, Inc. |  |  | — |  |  |  | — |  |  |  | 10,000 |  |  |  | 229 |
Viken Detection Corporation |  |  | — |  |  |  | — |  |  |  | 10,000 |  |  |  | 160 |
Total |  | $ | 189,875 |  |  | $ | 1,772 |  |  | $ | 180,500 |  |  | $ | 2,033 |
The table above also provides the fair value of the Company’s unfunded commitment liability as of September 30, 2024 and December 31, 2023, which totaled $1.8 million and $2.0 million, respectively. The fair value at inception of the delay draw credit agreements is equal to the fees and/or warrants received to enter into these agreements, taking into account the remaining terms of the agreements and the counterparties’ credit profile. The unfunded commitment liability reflects the fair value of these future funding commitments and is included in the Company’s consolidated statement of assets and liabilities.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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