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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | 8. COMMITMENTS AND CONTINGENCIES From time-to-time the Company is a party to financial instruments with off-balance sheet risk in the normal course of business in order to meet the needs of the Company’s investment in portfolio companies. Such instruments include commitments to extend credit and may involve, in varying degrees, elements of credit risk in excess of amounts recognized on the Company’s balance sheet. Prior to extending such credit, the Company attempts to limit its credit risk by conducting extensive due diligence, obtaining collateral where necessary and negotiating appropriate financial covenants. As of September 30, 2024, and December 31, 2023, the Company had $31.7 million and $28.6 million unfunded commitments, respectively. The Company may, from time to time, enter into commitments to fund investments. These unfunded commitments are assessed for fair value in accordance with ASC 820. As of September 30, 2024 and December 31, 2023, the Company had the following outstanding commitments to fund investments in current portfolio companies:
($ in thousands) |  |  | Par Value |  | Par Value |
Portfolio Company |  | Investment | September 30, 2024 |  | December 31, 2023 |
Accordion Partners LLC (Revolver) |  | First Lien Debt |  | $ | 765 |  |  | $ | 1,531 |
AMCP Pet Holdings, Inc. (Revolver) |  | First Lien Debt |  |  | — |  |  |  | 350 |
Anthem Sports & Entertainment Inc. (Revolver) |  | First Lien Debt |  |  | 83 |  |  |  | 83 |
BetaNXT, Inc. (Revolver) |  | First Lien Debt |  |  | 1,256 |  |  |  | 2,174 |
Bradshaw International Parent Corp. (Revolver) |  | First Lien Debt |  |  | 615 |  |  |  | 922 |
CCMG Buyer, LLC (Care Connectors Medical Group) (Revolver) |  | First Lien Debt |  |  | 500 |  |  |  | — |
Centric Brands Inc. (Revolver) |  | First Lien Debt |  | N/A |  |  |  | 1,166 |
Colonnade Intermediate, LLC (Revolver) |  | First Lien Debt |  |  | — |  |  |  | 68 |
Critical Nurse Staffing, LLC (Revolver) |  | First Lien Debt |  |  | 2,000 |  |  |  | 2,000 |
Dentive, LLC(1) |  | First Lien Debt |  |  | 513 |  |  |  | 430 |
Dentive, LLC (Revolver) |  | First Lien Debt |  |  | 196 |  |  |  | 186 |
Epilog Partners SPV III, LLC (Care Connectors Medical Group) |  | Equity |  |  | 87 |  |  |  | — |
Fortis Payment Systems, LLC(1) |  | First Lien Debt |  |  | 492 |  |  |  | — |
GreenPark Infrastructure, LLC - Series M-1 |  | Equity |  |  | 1,829 |  |  |  | 1,829 |
H.W. Lochner, Inc. (Revolver) |  | First Lien Debt |  |  | — |  |  |  | 4,142 |
IDC Infusion Services LLC(1) |  | First Lien Debt |  |  | 1,065 |  |  |  | 1,065 |
Luminii LLC (Revolver) |  | First Lien Debt |  |  | 172 |  |  |  | 172 |
Morae Global Corporation (Revolver) |  | First Lien Debt |  |  | 208 |  |  |  | 208 |
Netwrix Corporation (Revolver) |  | First Lien Debt |  |  | 1,148 |  |  |  | 1,148 |
Netwrix Corporation(1) |  | First Lien Debt |  | N/A |  |  |  | 941 |
PhyNet Dermatology LLC(1) |  | First Lien Debt |  |  | 690 |  |  |  | 690 |
PMP OPCO, LLC (Princeton Medspa Partners, LLC)(1) |  | First Lien Debt |  |  | 1,125 |  |  |  | — |
PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) |  | First Lien Debt |  |  | 188 |  |  |  | — |
Riddell, Inc.(1) |  | First Lien Debt |  |  | 636 |  |  |  | — |
Riskonnect Parent LLC(1) |  | First Lien Debt |  |  | 5,000 |  |  |  | — |
Series A-Great Lakes Funding II LLC |  | Joint Ventures |  |  | 11,156 |  |  |  | 5,473 |
TA/WEG Holdings, LLC(1) |  | First Lien Debt |  | N/A |  |  |  | 758 |
TA/WEG Holdings, LLC (Revolver) |  | First Lien Debt |  |  | 784 |  |  |  | 784 |
Tactical Air Support, Inc.(1) |  | First Lien Debt |  | N/A |  |  |  | 286 |
VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Revolver) |  | First Lien Debt |  |  | 387 |  |  |  | 258 |
VBC Spine Opco LLC (DxTx Pain and Spine LLC)(1) |  | First Lien Debt |  |  | 761 |  |  |  | 1,902 |
Total Unfunded Portfolio Company Commitments |  |  |  | $ | 31,656 |  |  | $ | 28,566 |
(1) Delayed-draw term loan. The Company is involved in litigation in the normal course of its operations and does not expect that the outcome of those litigations to have a material adverse impact to the Company’s financial position or results of operations.

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