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Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Investments, at fair value $ 457,247 [1],[2] $ 500,576 [3],[4]
Cash 15,942 14,937
Interest receivable 1,779 2,202
Prepaid expenses and other assets 2,014 3,002
Total assets 476,982 520,717
Liabilities    
Revolving lines of credit 91,100 104,700
SBA debentures (net of deferred debt issuance costs of $50 and $223, respectively) 31,870 50,697
Unsecured Notes (net of deferred debt issuance costs of $2,912 and $3,647, respectively) 177,088 176,353
Interest payable 1,990 3,947
Accrued professional fees 321 444
Total liabilities 306,314 340,294
Commitments and contingencies (Note 6)
Net assets    
Preferred stock, par value of $0.01 per share, 2,000,000 shares authorized, -0- shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 0 0
Common stock, par value of $0.01 per share, 100,000,000 shares authorized, 13,398,078 and 13,398,078 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 134 134
Paid-in capital in excess of par 184,841 184,841
Total distributable losses (14,307) (4,552)
Total net assets 170,668 180,423
Total liabilities and net assets $ 476,982 $ 520,717
Number of shares outstanding (in shares) 13,398,078 13,398,078
Net asset value per share (in usd per share) $ 12.74 $ 13.47
Affiliated entity    
Liabilities    
Other liabilities $ 3,797 $ 3,909
Nonrelated party    
Liabilities    
Other liabilities 148 244
Non-control/Non-affiliate Investments    
Assets    
Investments, at fair value 365,782 [1] 402,771 [3]
Affiliate investments    
Assets    
Investments, at fair value 91,465 [1] 96,701
Control investment    
Assets    
Investments, at fair value $ 0 $ 1,104 [3]
[1] Unless otherwise noted in footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[2] Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.
[3] Unless otherwise noted with footnote 14, fair value was determined using significant unobservable inputs for all of the Company’s investments and are considered Level 3 under GAAP. See Note 5 for further details.
[4] Equity ownership may be held in shares or units of companies affiliated with the portfolio company. The Company’s investments are generally classified as “restricted securities” as such term is defined under Regulation S-X Rule 6-03(f) or Securities Act Rule 144.