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Note 5 - Transactions With Affiliated Companies

12 Months Ended

Dec. 31, 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 year ended December 31, 2024 were as follows:

										*Year ended December 31, 2024*
		*Fair value at*												*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*								*Principal*				*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*December 31,*				*Interest*
Company		*2023*				*Purchases*				*payments*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2024*				*income*
		(In thousands)
Aulea Medical, Inc.		$	—			$	3			$	(40	)		$	—			$	—			$	—			$	37			$	—			$	—
Evelo Biosciences, Inc.			1,132				244				(1,430	)			—				—				8,361				—				8,307				—
Total non-controlled affiliates		$	1,132			$	247			$	(1,470	)		$	—			$	—			$	8,361			$	37			$	8,307			$	—

Transactions related to investments in non-controlled affiliated companies for the year ended December 31, 2023 were as follows:

										*Year ended December 31, 2023*

		*Fair value at*												*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*								*Principal*				*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*December 31,*				*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.			—				11				(11,000	)			39,505				35				(27,419	)			—				1,132				1,245
Total non-controlled affiliates		$	—			$	11			$	(11,000	)		$	38,599			$	35			$	(26,513	)		$	—			$	1,132			$	1,245

(1) As of December 31, 2023, the Company no longer owns 5% of more of the portfolio company.

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 year ended December 31, 2024 were as follows:

										*Year ended December 31, 2024*

		*Fair value at*																*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*								*Principal*								*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*December 31,*				*Interest*
Company		*2023*				*Purchases*				*payments*				*PIK*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2024*				*income*
		(In thousands)
Better Place Forests Co.		$	7,993			$	3,750			$	—			$	805			$	—			$	14			$	(12,562	)		$	—			$	—			$	846
HIMV LLC			6,230				227				(592	)			—				463				—				(98	)			—				6,230				—
Nexii, Inc.			—				790				—				—				6,716				—				1,041				—				8,547				35
Swift Health Systems, Inc.			—				1,887				—				826				15,462				2				(1,135	)			—				17,042				868
Total controlled affiliates		$	14,223			$	6,654			$	(592	)		$	1,631			$	22,641			$	16			$	(12,754	)		$	—			$	31,819			$	1,749

Transactions related to investments in controlled affiliated companies for the year ended December 31, 2023 were as follows:

										*Year ended December 31, 2023*

		*Fair value at*																*Transfers*								*Net*								*Fair value at*
Portfolio		*December 31,*								*Principal*								*in/(out) at*				*Discount*				*unrealized*				*Net realized*				*December 31,*				*Interest*
Company		*2022*				*Purchases*				*payments*				*PIK*				*fair value*				*accretion*				*gain/(loss)*				*gain/(loss)*				*2023*				*income*
		(In thousands)
Better Place Forests Co.		$	—			$	1,311			$	—			$	320			$	4,580			$	6			$	1,776			$	—			$	7,993			$	337
HIMV LLC			—				146				(516	)			—				6,154				—				446				—				6,230				—
Total controlled affiliates		$	—			$	1,457			$	(516	)		$	320			$	10,734			$	6			$	2,222			$	—			$	14,223			$	337