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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Total interest income $ 14,550 $ 18,140 $ 39,314 $ 50,948
Payment-in-kind income:        
Total payment-in-kind income 1,740 1,296 4,414 3,173
Dividend income:        
Total dividend income 2,182 2,443 6,361 7,012
Fees and other income 537 1,032 908 1,628
Total investment income 19,009 22,911 50,997 62,761
EXPENSES        
Management fees 2,082 2,065 6,305 5,772
Performance-based incentive fees 1,780 1,939 4,627 6,333
Interest and amortization of debt issuance costs 4,673 3,408 11,906 10,315
Professional fees 759 490 2,483 2,680
Administrative services expense 862 760 2,531 2,092
Other general and administrative expenses 461 531 1,323 1,928
Total expenses 10,617 9,193 29,175 29,120
NET INVESTMENT INCOME 8,392 13,718 21,822 [1] 33,641 [1]
Net realized gains (losses) from investment transactions:        
Net realized gain (loss) on investments (9,087) (3,931) (28,631) [1] (11,373) [1]
Net change in unrealized appreciation (depreciation) on:        
Net unrealized gain (loss) on investments (2,968) (642) (712) [1] 7,593 [1]
Tax (provision) benefit on realized and unrealized gains (losses) on investments (542)   (1,059) [1]  
Net realized and unrealized appreciation (depreciation) on investments, net of taxes (12,597) (4,573) (30,402) (3,780)
Realized gains (losses) on extinguishments of debt [1]       (1,835)
Net increase (decrease) in net assets resulting from operations $ (4,205) $ 9,145 $ (8,580) [1] $ 28,026 [1]
Net Increase (Decrease) In Net Assets Resulting from Operations per Common Share:        
Basic [2] $ (0.44) $ 1.00 $ (0.89) [3] $ 3.41 [3]
Diluted [2] (0.44) 1.00 (0.89) 3.41
Net Investment Income Per Common Share:        
Basic and Diluted: [2] $ 0.87 $ 1.50 $ 2.26 $ 4.10
Weighted Average Shares of Common Stock Outstanding - Basic [2] 9,602,712 9,131,456 9,644,870 8,213,661
Weighted Average Shares of Common Stock Outstanding - Diluted [2] 9,602,712 9,131,456 9,644,870 8,213,661
Non-controlled/Non-affiliated Investments        
Interest income:        
Total interest income $ 13,727 $ 16,370 $ 37,043 $ 48,283
Payment-in-kind income:        
Total payment-in-kind income 1,505 1,225 3,830 3,078
Net realized gains (losses) from investment transactions:        
Net realized gain (loss) on investments (8,560) (2,970) (26,339) (10,193)
Net change in unrealized appreciation (depreciation) on:        
Net unrealized gain (loss) on investments (318) 310 5,381 5,143
Non-controlled Affiliated Investments        
Interest income:        
Total interest income 823 1,775 2,271 2,670
Payment-in-kind income:        
Total payment-in-kind income 74 71 403 95
Dividend income:        
Total dividend income 1,149 2,070 3,099 3,997
Net realized gains (losses) from investment transactions:        
Net realized gain (loss) on investments (527) (961) (197) (1,180)
Net change in unrealized appreciation (depreciation) on:        
Net unrealized gain (loss) on investments 338 182 (874) 1,770
Controlled Affiliated Investments        
Interest income:        
Controlled affiliated investments   (5)   (5)
Payment-in-kind income:        
Total payment-in-kind income 161   181  
Dividend income:        
Total dividend income 1,033 373 3,262 3,015
Net change in unrealized appreciation (depreciation) on:        
Net unrealized gain (loss) on investments $ (2,988) (955) (7,661) 1,553
Derivatives        
Net realized gains (losses) from investment transactions:        
Net realized gain (loss) on investments     (2,095)  
Net change in unrealized appreciation (depreciation) on:        
Net unrealized gain (loss) on investments   $ (179) $ 2,442 $ (873)
[1] Refer to Note 9 "Stockholders' Equity" for additional information on changes in components of Stockholders' Equity
[2] The Company completed a Reverse Stock Split of 10 to 1 effective August 26, 2021, the weighted average shares outstanding and per share values have been adjusted retroactively to reflect the split for all periods presented.
[3] Totals may not sum due to rounding.