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Note 6 - Fair Value (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

		December 31, 2024
		Level 1				Level 2				Level 3				Total
		(In thousands)
Debt investments		$	—			$	—			$	638,779			$	638,779
Warrant investments			—				1,839				16,438				18,277
Other investments			—				—				14,637				14,637
Equity investments			587				—				25,611				26,198
Total investments		$	587			$	1,839			$	695,465			$	697,891

		December 31, 2023
		Level 1				Level 2				Level 3				Total
		(In thousands)
Debt investments		$	—			$	—			$	670,172			$	670,172
Warrant investments			—				1,619				22,975				24,594
Other investments			—				—				6,430				6,430
Equity investments			608				—				7,281				7,889
Total investments		$	608			$	1,619			$	706,858			$	709,085

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

December 31, 2024
		Fair			Valuation Techniques/		Unobservable				Weighted
Investment Type		Value			Methodologies		Input		Range		Average(1)
					(Dollars in thousands, except per share data)
Debt investments		$	628,325		Discounted Expected Future Cash Flows		Hypothetical Market Yield		11% – 20%			14	%
			10,454		Multiple Probability Weighted Cash Flow Model		Probability Weighting		10% - 100%			57	%
Warrant investments			16,438		Black-Scholes Valuation Model		Price Per Share		0.00 –807.91		$	16.80
							Average Industry Volatility		24%			24	%
							Marketability Discount		0 - 20%			15	%
							Estimated Time to Exit (in years)		1 to 5			3
Other investments			14,637		Multiple Probability Weighted Cash Flow Model		Discount Rate		15% – 25%			18	%
							Probability Weighting		30% – 100%			90	%
Equity investments			21,648		Last Equity Financing		Price Per Share		0.06 –215.03		$	30.47
			3,963		Multiple Probability Weighted Scenario Model		Probability Weighting		10% - 100%			33	%
Total Level 3 investments		$	695,465

December 31, 2023
		Fair			Valuation Techniques/		Unobservable				Weighted
Investment Type		Value			Methodologies		Input		Range		Average(1)
					(Dollars in thousands, except per share data)
Debt investments		$	617,529		Discounted Expected Future Cash Flows		Hypothetical Market Yield		11% – 24%			15	%
			52,643		Multiple Probability Weighted Cash Flow Model		Probability Weighting		20% - 100%			50	%
Warrant investments			22,913		Black-Scholes Valuation Model		Price Per Share		0.00 –1,899.00		$	64.95
							Average Industry Volatility		25%			25	%
							Marketability Discount		0 – 20%			18	%
							Estimated Time to Exit (in years)		1 to 5			3
			62		Expected Proceeds		Price Per Share		$0.25		$	0.25
Other investments			6,430		Multiple Probability Weighted Cash Flow Model		Discount Rate		25%			25	%
							Probability Weighting		30% – 100%			81	%
Equity investments			7,281		Last Equity Financing		Price Per Share		0.56 –215.03		$	17.15
Total Level 3 investments		$	706,858

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Year ended December 31, 2024
		Debt				Warrant				Equity				Other
		Investments				Investments				Investments				Investments				Total
		(In thousands)
Level 3 assets, beginning of period		$	670,172			$	22,975			$	7,281			$	6,430			$	706,858
Purchase of investments			178,772				—				3,137				455				182,364
Warrants received and classified as Level 3			—				2,127				—				—				2,127
Principal payments received on investments			(146,245	)			—				—				(115	)			(146,360	)
Payment-in-kind interest on investments			3,261				—				—				—				3,261
Proceeds from sale of investments			(156	)			(106	)			—				(40	)			(302	)
Net realized (loss) gain on investments			(34,852	)			388				—				40				(34,424	)
Unrealized appreciation (depreciation) included in earnings			21				(5,970	)			(3,169	)			(9,868	)			(18,986	)
Transfer out of Level 3			—				(192	)			—				—				(192	)
Transfer out of debt and warrant investments			(33,313	)			(2,784	)			18,362				17,735				—
Other			1,119				—				—				—				1,119
Level 3 assets, end of period		$	638,779			$	16,438			$	25,611			$	14,637			$	695,465

		Year ended December 31, 2023
		Debt				Warrant				Equity				Other
		Investments				Investments				Investments				Investments				Total
		(In thousands)
Level 3 assets, beginning of period		$	686,458			$	26,145			$	2,416			$	1,300			$	716,319
Purchase of investments			217,285				—				1,260				144				218,689
Warrants and equity received and classified as Level 3			—				2,763				89				—				2,852
Principal payments received on investments			(151,777	)			—				—				(516	)			(152,293	)
Payment-in-kind interest on investments			8,433				—				—				—				8,433
Proceeds from sale of investments			(9,565	)			(1,495	)			(6	)			—				(11,066	)
Net realized (loss) gain on investments			(29,146	)			1,003				(121	)			—				(28,264	)
Unrealized depreciation included in earnings			(35,564	)			(5,436	)			(2,496	)			(652	)			(44,148	)
Transfer out of Level 3			(5,000	)			—				(111	)			—				(5,111	)
Transfer out of debt and warrant investments			(12,399	)			(5	)			6,250				6,154				—
Other			1,447				—				—				—				1,447
Level 3 assets, end of period		$	670,172			$	22,975			$	7,281			$	6,430			$	706,858

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