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Acquisitions of Garrison Capital Inc. And Harvest Capital Credit Corporation (Tables) | 9 Months Ended
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Sep. 30, 2024
GARS Acquisition |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
($ in thousands) |  |  |
Common stock issued by the Company (1) |  | $ | 38,765 |
Cash consideration to GARS shareholders |  |  | 24,100 |
Transaction costs (excluding offering costs $432) |  |  | 1,168 |
Total purchase consideration |  | $ | 64,033 |
Assets acquired: |  |  |
Investments, at fair value (amortized cost of $277,380) |  | $ | 317,803 |
Cash |  |  | 35,361 |
Interest receivable |  |  | 1,871 |
Other assets |  |  | 2,088 |
Total assets acquired |  | $ | 357,123 |
Liabilities assumed: |  |  |
Debt |  | $ | 251,213 |
Other liabilities |  |  | 1,455 |
Total liabilities assumed |  | $ | 252,668 |
Net assets acquired |  | $ | 104,455 |
Total purchase discount |  | $ | (40,422 | )
(1) Based on the market price at closing of $1.26 as of October 28, 2020 and the 30,765,640 shares of common stock issued by the Company in conjunction with the merger.
HCAP Acquisition |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
($ in thousands) |  |  |
Common stock issued by the Company (1) |  | $ | 37,063 |
Cash consideration to HCAP shareholders (2) |  |  | 20,688 |
Transaction costs (excluding offering costs $519) |  |  | 881 |
Total purchase consideration |  | $ | 58,632 |
Assets acquired: |  |  |
Investments, at fair value (amortized cost of $53,812) |  | $ | 57,621 |
Cash |  |  | 32,119 |
Interest receivable |  |  | 431 |
Other assets |  |  | 2,665 |
Total assets acquired |  | $ | 92,836 |
Liabilities assumed: |  |  |
Debt |  | $ | 28,750 |
Other liabilities |  |  | 1,645 |
Total liabilities assumed |  | $ | 30,395 |
Net assets acquired |  | $ | 62,441 |
Total purchase discount |  | $ | (3,809 | )
Based on the market price at closing of $2.43 as of June 9, 2021 and the 15,252,453 shares of common stock issued by the Company in conjunction with the merger. (2) Approximately $18.5 million cash consideration paid by the Company plus $2.15 million cash payment paid at closing directly to shareholders of HCAP from the Adviser.

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