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Note 5 - Transactions With Affiliated Companies | 6 Months Ended
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Jun. 30, 2025
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, 2025 were as follows:
|  |  |  |  |  |  |  |  |  | Three months ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | March 31, |  |  |  |  |  |  | Principal |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | June 30, |  |  | Interest |
Company |  | 2025 |  |  | Purchases |  |  | payments |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2025 |  |  | income |
|  | (In thousands) |
Aulea Medical, Inc. |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Evelo Biosciences, Inc. |  |  | 8,307 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,600 | ) |  |  | — |  |  |  | 6,707 |  |  |  | — |
Total non-controlled affiliates |  | $ | 8,307 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,600 | ) |  | $ | — |  |  | $ | 6,707 |  |  | $ | — |
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, |  |  |  |  |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | June 30, |  |  | Interest |
Company |  | 2024 |  |  | Purchases |  |  | Sales |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2024 |  |  | income |
|  | (In thousands) |
Aulea Medical, Inc. |  | $ | — |  |  | $ | — |  |  | $ | (40 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 40 |  |  | $ | — |  |  | $ | — |
Evelo Biosciences, Inc. |  |  | 12,577 |  |  |  | 92 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,178 |  |  |  | — |  |  |  | 15,847 |  |  |  | — |
Total controlled affiliates |  | $ | 12,577 |  |  | $ | 92 |  |  | $ | (40 | ) |  | $ | — |  |  | $ | — |  |  | $ | 3,178 |  |  | $ | 40 |  |  | $ | 15,847 |  |  | $ | — |
Transactions related to investments in non-controlled affiliated companies for the six months ended June 30, 2025 were as follows:
|  |  |  |  |  |  |  |  |  | Six months ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | December 31, |  |  |  |  |  |  | Principal |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | June 30, |  |  | Interest |
Company |  | 2024 |  |  | Purchases |  |  | payments |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2025 |  |  | income |
|  | (In thousands) |
Aulea Medical, Inc. |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Evelo Biosciences, Inc. |  |  | 8,307 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,602 | ) |  |  | — |  |  |  | 6,707 |  |  |  | — |
Total non-controlled affiliates |  | $ | 8,307 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,602 | ) |  | $ | — |  |  | $ | 6,707 |  |  | $ | — |
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, |  |  | 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 |  |  |  | 104 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,611 |  |  |  | — |  |  |  | 15,847 |  |  |  | — |
Total non-controlled affiliates |  | $ | 1,132 |  |  | $ | 107 |  |  | $ | (40 | ) |  | $ | — |  |  | $ | — |  |  | $ | 14,611 |  |  | $ | 37 |  |  | $ | 15,847 |  |  | $ | — |
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, 2025 were as follows:
|  |  |  |  |  |  |  |  |  | Three months ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | March 31, |  |  |  |  |  |  | Principal |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | June 30, |  |  | Interest |
Company |  | 2025 |  |  | Purchases |  |  | payments |  |  | PIK |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2025 |  |  | income |
|  | (In thousands) |
Better Place Forests Co. |  | $ | 879 |  |  | $ | 1,107 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,107 | ) |  | $ | — |  |  | $ | 879 |  |  | $ | — |
HIMV LLC |  |  | 5,290 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,425 | ) |  |  | — |  |  |  | 865 |  |  |  | — |
Nexii, Inc. |  |  | 8,700 |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,711 |  |  |  | 20 |
Swift Health Systems, Inc. |  |  | — |  |  |  | 137 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (137 | ) |  |  | — |  |  |  | — |  |  |  | — |
Total controlled affiliates |  | $ | 14,869 |  |  | $ | 1,255 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5,669 | ) |  | $ | — |  |  | $ | 10,455 |  |  | $ | 20 |
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. |  | $ | 7,799 |  |  | $ | 1,500 |  |  | $ | — |  |  | $ | 178 |  |  | $ | — |  |  | $ | 3 |  |  | $ | (3,930 | ) |  | $ | — |  |  | $ | 5,550 |  |  | $ | 188 |
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, 2025 were as follows:
|  |  |  |  |  |  |  |  |  | Six months ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | December 31, |  |  |  |  |  |  | Principal |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | June 30, |  |  | Interest |
Company |  | 2024 |  |  | Purchases |  |  | payments |  |  | PIK |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2025 |  |  | income (reversal) |
|  | (In thousands) |
Better Place Forests Co. |  | $ | — |  |  | $ | 2,048 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,169 | ) |  | $ | — |  |  | $ | 879 |  |  | $ | — |
HIMV LLC |  |  | 6,230 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,365 | ) |  |  | — |  |  |  | 865 |  |  |  | — |
Nexii, Inc. |  |  | 8,547 |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 153 |  |  |  | — |  |  |  | 8,711 |  |  |  | 40 |
Swift Health Systems, Inc. |  |  | 17,042 |  |  |  | 2,146 |  |  |  | — |  |  |  | 208 |  |  |  | — |  |  |  | 9 |  |  |  | (19,405 | ) |  |  | — |  |  |  | — |  |  |  | (81 | )
Total controlled affiliates |  | $ | 31,819 |  |  | $ | 4,205 |  |  | $ | — |  |  | $ | 208 |  |  | $ | — |  |  | $ | 9 |  |  | $ | (25,786 | ) |  | $ | — |  |  | $ | 10,455 |  |  | $ | (41 | )
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. |  | $ | 7,993 |  |  | $ | 2,250 |  |  | $ | — |  |  | $ | 344 |  |  | $ | — |  |  | $ | 7 |  |  | $ | (5,044 | ) |  | $ | — |  |  | $ | 5,550 |  |  | $ | 365 |
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 |

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- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 + Details
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