XML 29 R22.htm IDEA: XBRL DOCUMENT
v3.25.1

Commitments and Contingencies | 3 Months Ended
--- | ---
Mar. 31, 2025
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 consolidated statements of assets and liabilities. 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 March 31, 2025, and December 31, 2024, the Company had $26.5 million and $27.2 million of unfunded commitments, respectively. The Company may, from time to time, enter into commitments to fund investments. These unfunded commitments are assessed for fair value in accordance with ASC 820. As of March 31, 2025 and December 31, 2024, the Company had the following outstanding commitments to fund investments in current portfolio companies:
($ in thousands) |  |  | Par Value |  | Par Value |
Portfolio Company |  | Investment | March 31, 2025 |  | December 31, 2024 |
Accordion Partners LLC(1) |  | First Lien Debt |  | $ | 767 |  |  | $ | 913 |
Accordion Partners LLC (Revolver) |  | First Lien Debt |  |  | 1,623 |  |  |  | 1,623 |
Anthem Sports & Entertainment Inc.(1) |  | First Lien Debt |  |  | — |  |  |  | 307 |
Anthem Sports & Entertainment Inc. (Revolver) |  | First Lien Debt |  |  | 83 |  |  |  | 83 |
BetaNXT, Inc. (Revolver) |  | First Lien Debt |  |  | 990 |  |  |  | 1,401 |
Bradshaw International Parent Corp. (Revolver) |  | First Lien Debt |  |  | 922 |  |  |  | 922 |
CCMG Buyer, LLC (Care Connectors Medical Group) (Revolver) |  | First Lien Debt |  |  | 500 |  |  |  | 500 |
Dentive, LLC(1) |  | First Lien Debt |  |  | 427 |  |  |  | 427 |
Dentive, LLC (Revolver) |  | First Lien Debt |  |  | 47 |  |  |  | 117 |
Epilog Partners SPV III, LLC (Care Connectors Medical Group) |  | Equity |  |  | 81 |  |  |  | 87 |
Fortis Payment Systems, LLC(1) |  | First Lien Debt |  | N/A |  |  |  | 387 |
Franchise Group, Inc. (DIP)(1) |  | First Lien Debt |  |  | 249 |  |  |  | 249 |
IDC Infusion Services LLC(1) |  | First Lien Debt |  |  | 130 |  |  |  | 130 |
Luminii LLC (Revolver) |  | First Lien Debt |  |  | — |  |  |  | 172 |
Morae Global Corporation (Revolver) |  | First Lien Debt |  |  | 208 |  |  |  | 208 |
Netwrix Corporation (Revolver) |  | First Lien Debt |  |  | 1,148 |  |  |  | 1,148 |
Newbury Franklin Industrials, LLC(1) |  | First Lien Debt |  |  | 987 |  |  |  | 987 |
PhyNet Dermatology LLC(1) |  | First Lien Debt |  |  | 690 |  |  |  | 690 |
PMA Parent Holdings LLC (Revolver) |  | First Lien Debt |  |  | 99 |  |  |  | 99 |
PMP OPCO, LLC (Princeton Medspa Partners, LLC)(1) |  | First Lien Debt |  |  | 1,125 |  |  |  | 1,125 |
PMP OPCO, LLC (Princeton Medspa Partners, LLC) (Revolver) |  | First Lien Debt |  |  | 188 |  |  |  | 188 |
Riddell, Inc.(1) |  | First Lien Debt |  |  | 636 |  |  |  | 636 |
Riskonnect Parent LLC(1) |  | First Lien Debt |  |  | 5,000 |  |  |  | 5,000 |
Series A-Great Lakes Funding II LLC |  | Joint Venture |  |  | 8,669 |  |  |  | 8,165 |
TA/WEG Holdings, LLC (Revolver) |  | First Lien Debt |  |  | 784 |  |  |  | 784 |
VBC Spine Opco LLC (DxTx Pain and Spine LLC)(1) |  | First Lien Debt |  |  | 761 |  |  |  | 761 |
VBC Spine Opco LLC (DxTx Pain and Spine LLC) (Revolver) |  | First Lien Debt |  |  | 387 |  |  |  | 129 |
Total Unfunded Portfolio Company Commitments |  |  |  | $ | 26,501 |  |  | $ | 27,238 |
(1) Delayed-draw term loan.

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 405 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/405-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/450/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 440 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478522/954-440-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/440/tableOfContent + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration