XML 41 R31.htm IDEA: XBRL DOCUMENT v3.22.2.2
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2022
Stockholders' Equity Note [Abstract]  
Summary of Components of Stockholders' Equity

The following table details the components of Stockholders’ Equity for the nine months ended September 30, 2022 and 2021:

 

 

 

For the Nine Months Ended September 30, 2022

 

($ in thousands)

 

Common
Stock

 

 

Capital in
Excess
of Par Value

 

 

Total
Distributable
(loss) earnings

 

 

Total
Stockholders'
Equity

 

Balance, January 1, 2022

 

$

97

 

 

$

733,095

 

 

$

(453,070

)

 

$

280,122

 

Net investment income

 

 

-

 

 

 

-

 

 

 

7,908

 

 

 

7,908

 

Net change in unrealized appreciation on investments

 

 

-

 

 

 

-

 

 

 

2,143

 

 

 

2,143

 

Net realized (losses) from investment transactions and extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(5,553

)

 

 

(5,553

)

Tax (provision) benefit on realized and unrealized gains (losses) on investments

 

 

-

 

 

 

-

 

 

 

(440

)

 

 

(440

)

Distributions to Stockholders

 

 

-

 

 

 

-

 

 

 

(6,111

)

 

 

(6,111

)

Reinvested Dividends

 

 

-

 

 

 

338

 

 

 

-

 

 

 

338

 

Stock-repurchase

 

 

-

 

 

 

(545

)

 

 

-

 

 

 

(545

)

Private placement and other

 

 

-

 

 

 

439

 

 

 

-

 

 

 

439

 

Balance, March 31, 2022

 

$

97

 

 

$

733,327

 

 

$

(455,123

)

 

$

278,301

 

Net investment income

 

$

-

 

 

$

-

 

 

$

5,522

 

 

$

5,522

 

Net change in unrealized appreciation on investments

 

 

-

 

 

 

-

 

 

 

113

 

 

 

113

 

Net realized (losses) from investment transactions and extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(13,991

)

 

 

(13,991

)

Tax (provision) benefit on realized and unrealized gains (losses) on investments

 

 

-

 

 

 

-

 

 

 

(77

)

 

 

(77

)

Distributions to Stockholders

 

 

-

 

 

 

-

 

 

 

(6,064

)

 

 

(6,064

)

Reinvested Dividends

 

 

-

 

 

 

346

 

 

 

-

 

 

 

346

 

Stock-repurchase

 

 

-

 

 

 

(2,459

)

 

 

-

 

 

 

(2,459

)

Private placement

 

 

-

 

 

 

(25

)

 

 

-

 

 

 

(25

)

Balance, June 30, 2022

 

$

97

 

 

$

731,189

 

 

$

(469,620

)

 

$

261,666

 

Net investment income

 

$

-

 

 

$

-

 

 

$

8,392

 

 

$

8,392

 

Net change in unrealized appreciation on investments

 

 

-

 

 

 

-

 

 

 

(2,968

)

 

 

(2,968

)

Net realized (losses) from investment transactions and extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(9,087

)

 

 

(9,087

)

Tax (provision) benefit on realized and unrealized gains (losses) on investments

 

 

-

 

 

 

-

 

 

 

(542

)

 

 

(542

)

Distributions to Stockholders

 

 

-

 

 

 

-

 

 

 

(6,048

)

 

 

(6,048

)

Reinvested Dividends

 

 

-

 

 

 

204

 

 

 

-

 

 

 

204

 

Stock-repurchase

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Private placement

 

 

-

 

 

 

(35

)

 

 

-

 

 

 

(35

)

Balance, September 30, 2022

 

$

97

 

 

$

731,358

 

 

$

(479,873

)

 

$

251,582

 

 

 

 

For the Nine Months Ended September 30, 2021

 

($ in thousands)

 

Common
Stock(1)

 

 

Capital in
Excess
of Par Value(1)

 

 

Total
Distributable
(loss) earnings

 

 

Total
Stockholders'
Equity

 

Balance, January 1, 2021

 

$

75

 

 

$

639,136

 

 

$

(422,947

)

 

$

216,264

 

Net investment income

 

 

-

 

 

 

-

 

 

 

8,213

 

 

 

8,213

 

Net realized (losses) from investment transactions and extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(6,921

)

 

 

(6,921

)

Net change in unrealized appreciation on investments

 

 

-

 

 

 

-

 

 

 

6,745

 

 

 

6,745

 

Distributions to Stockholders

 

 

-

 

 

 

-

 

 

 

(4,510

)

 

 

(4,510

)

Reinvested Dividends

 

 

-

 

 

 

64

 

 

 

-

 

 

 

64

 

Balance at March 31, 2021

 

$

75

 

 

$

639,200

 

 

$

(419,420

)

 

$

219,855

 

Net investment income

 

$

-

 

 

$

-

 

 

$

11,710

 

 

$

11,710

 

Net realized (losses) from investment transactions and extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(2,356

)

 

 

(2,356

)

Net change in unrealized appreciation on investments

 

 

-

 

 

 

-

 

 

 

1,490

 

 

 

1,490

 

Distributions to Stockholders

 

 

-

 

 

 

-

 

 

 

(4,594

)

 

 

(4,594

)

Reinvested Dividends

 

 

-

 

 

 

165

 

 

 

-

 

 

 

165

 

Stock-repurchase

 

 

-

 

 

 

(380

)

 

 

-

 

 

 

(380

)

Private placement

 

 

2

 

 

 

4,017

 

 

 

-

 

 

 

4,019

 

HCAP purchase (net of offering expenses)

 

 

15

 

 

 

38,680

 

 

 

-

 

 

 

38,695

 

Balance, June 30, 2021

 

$

92

 

 

$

681,682

 

 

$

(413,170

)

 

$

268,604

 

Net investment income

 

$

-

 

 

$

-

 

 

$

13,718

 

 

$

13,718

 

Net realized (losses) from investment transactions and extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(3,931

)

 

 

(3,931

)

Net change in unrealized appreciation on investments

 

 

-

 

 

 

-

 

 

 

(642

)

 

 

(642

)

Distributions to Stockholders

 

 

-

 

 

 

-

 

 

 

(5,469

)

 

 

(5,469

)

Reinvested Dividends

 

 

-

 

 

 

215

 

 

 

-

 

 

 

215

 

Stock-repurchase

 

 

-

 

 

 

(1,447

)

 

 

-

 

 

 

(1,447

)

Balance, September 30, 2021

 

$

92

 

 

$

680,450

 

 

$

(409,494

)

 

$

271,048

 
(1)
The Company completed a Reverse Stock Split of 10 to 1 effective August 26, 2021, the common stock and capital in excess of par value have been adjusted retroactively to reflect the split for all periods presented.