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Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:        
Net decrease in net assets resulting from operations $ (37,262) $ (20,777) $ (34,484) $ (42,213)
Adjustments to reconcile net decrease in net assets resulting from operations to net cash provided by operating activities:        
Amortization of debt issuance costs 600 700 1,133 1,331
Net realized loss on investments     6,283 9,293
Net realized loss on extinguishment of debt 0 776 1,432 776
Net unrealized depreciation on investments 38,533 22,156 43,133 54,313
Purchase of investments     (162,766) (116,058)
Principal payments received on investments     85,171 129,238
PIK interest on investments (1,600) (200) (2,844) (528)
Proceeds from sale of investments     2,008 784
Investment in RoHo Joint Venture     (215) 0
Warrants received in settlement of fee income     0 (10)
Accrued interest converted to common stock     32 105
Investments in money market funds acquired in Merger     141,264 0
Changes in assets and liabilities:        
Decrease in interest receivable     1,046 185
(Increase) decrease in end-of-term payments     (116) 2,046
Decrease in unearned income     (237) (1,794)
Decrease (increase) in other assets     823 (459)
Decrease in other accrued expenses     (294) (491)
Increase (decrease) in base management fee payable     37 (101)
Net cash provided by operating activities     81,406 36,417
Cash flows from financing activities:        
Proceeds from issuance of common stock, net of offering costs     10 3,560
Advances on Credit Facilities     45,000 15,000
Repayment of Credit Facilities     (45,000) 0
Debt issuance costs     (124) (2,155)
Distributions paid     (25,243) (25,630)
Repurchase of common stock     (6,231) 0
Net cash used in financing activities     (89,088) (56,134)
Net decrease in cash, cash equivalents and restricted cash     (7,682) (19,717)
Cash, cash equivalents and restricted cash:        
Beginning of period     142,693 100,868
End of period 135,011 100,868 135,011 100,868
Supplemental disclosure of cash flow information:        
Cash paid for interest     14,882 15,490
Supplemental non-cash operating and financing activities:        
Refinanced debt investment balances     30,000 46,250
Warrant investments received and recorded as unearned income     1,160 278
Debt converted to common stock     15,050 12,500
Distributions payable 6,028 13,869 6,028 13,869
End-of-term payments receivable     9,858 11,482
Non-cash income     5,524 4,150
Cash 74,996 24,664 74,996 24,664
Investments in money market funds 57,340 53,261 57,340 53,261
Restricted investments in money market funds 2,675 3,226 2,675 3,226
Total cash, cash equivalents and restricted cash $ 135,011 $ 81,151 135,011 81,151
MRCC [Member]        
Supplemental non-cash operating and financing activities:        
Stock consideration     140,839 [1] 0 [1]
Asset-backed Notes 2019 [Member]        
Cash flows from financing activities:        
Repayment of note     0 (46,909)
The 2026 Notes [Member]        
Cash flows from financing activities:        
Repayment of note     $ (57,500) $ 0
[1] On April 14, 2026, in connection with the Merger (as defined in Note 1), the Company acquired net assets of $140.8 million for total stock consideration of $140.8 million. Refer to “Note 13 — MRCC Merger” for additional information on the Merger.