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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investment income      
Payment-in-kind interest income $ 3,261 $ 8,433 $ (0)
Total investment income 99,915 113,475 79,191
Expenses      
Interest expense 32,256 28,971 19,202
Base management fee (Note 3) 12,261 12,799 10,566
Performance based incentive fee (Note 3) 295 3,094 7,745
Administrative fee (Note 3) 1,650 1,658 1,667
Professional fees 2,328 2,178 1,650
General and administrative 1,866 1,837 1,459
Total expenses 50,656 50,537 42,289
Net investment income before excise tax 49,259 62,938 36,902
Provision for excise tax 1,476 1,490 715
Net investment income 47,783 61,448 36,187
Net realized and unrealized loss      
Net realized gain (loss) on investments (34,631) (29,702) (9,484)
Net realized loss on extinguishment of debt 0 (151) 0
Net realized loss (34,631) (29,853) (9,484)
Net unrealized appreciation (depreciation) on investments (18,785) (48,780) (5,552)
Net realized and unrealized loss (53,416) (78,633) (15,036)
Net (decrease) increase in net assets resulting from operations $ (5,633) $ (17,185) $ 21,151
Net investment income per common share - basic (in dollars per share) $ 1.32 $ 1.98 $ 1.46
Net investment income per common share - diluted (in dollars per share) 1.32 1.98 1.46
Net (decrease) increase in net assets resulting from operations per common share - basic (in dollars per share) (0.16) (0.56) 0.86
Net (decrease) increase in net assets resulting from operations per common share - diluted (1) (in dollars per share) [1] $ (0.16) $ (0.56) $ 0.86
Weighted average shares outstanding - basic (in shares) 36,104,415 30,957,849 24,726,079
Weighted average shares outstanding - diluted (in shares) 36,104,415 30,957,849 24,726,079
Distributions declared per share (in dollars per share) $ 1.37 $ 1.37 $ 1.28
Investment, Unaffiliated Issuer [Member]      
Investment income      
Interest income $ 93,588 $ 100,435 $ 77,366
Payment-in-kind interest income 1,630 8,113 0
Fee income 2,948 3,345 1,825
Net realized and unrealized loss      
Net realized gain (loss) on investments (34,668) (29,702) (8,364)
Net unrealized appreciation (depreciation) on investments (14,392) (24,489) (7,002)
Investment, Affiliated Issuer, Noncontrolled [Member]      
Investment income      
Interest income 0 1,245 0
Net realized and unrealized loss      
Net realized gain (loss) on investments 37 0 30
Net unrealized appreciation (depreciation) on investments 8,361 (26,513) 0
Investment, Affiliated Issuer, Controlled [Member]      
Investment income      
Interest income 118 17 0
Payment-in-kind interest income 1,631 320 0
Net realized and unrealized loss      
Net realized gain (loss) on investments 0 0 (1,150)
Net unrealized appreciation (depreciation) on investments $ (12,754) $ 2,222 $ 1,450
[1] For the year ended December 31, 2024, the impact of the hypothetical conversion of 2031 Convertible Notes was antidilutive to net (decrease) increase in net assets resulting from operations per common share (Note 12).