Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2023

The following is a schedule of financial highlights for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Per share operating performance:
Net asset value per share at beginning of period	$	12.94		$	14.57		$	13.47		$	15.18
Net investment income(4)	0.40			0.33			1.15			1.01
Net realized gain (loss) on investments, net of taxes(4)	0.01			(0.04)			(0.77)			(0.04)
Net unrealized depreciation on investments, net of taxes(4)	(0.26)			(1.00)			(0.09)			(1.71)
Loss on extinguishment of debt(4)	(0.01)			—			(0.02)			(0.01)
Total income (loss) from operations	0.14			(0.71)			0.27			(0.75)
Distributions declared	(0.34)			(0.29)			(1.00)			(0.86)
Issuance/repurchase of common stock(8)	—			0.01			—			0.01
Net asset value per share at end of period	$	12.74		$	13.58		$	12.74		$	13.58

Per share market value, end of period	$	11.24		$	8.22		$	11.24		$	8.22
Total return based on market value(1)(6)	17.1		%	(14.2)		%	21.7		%	(17.9)		%
Total return based on net asset value(2)(6)	1.4		%	(3.5)		%	3.9		%	(2.6)		%
Shares outstanding at end of period	13,398,078			13,406,971			13,398,078			13,406,971
Weighted average shares outstanding	13,398,078			13,428,410			13,398,078			13,425,466
Ratio/Supplemental Data (dollar amounts in thousands)
Average net asset value(3)	$	172,045		$	188,893		$	176,080		$	197,479
Net asset value at end of period	$	170,668		$	182,074		$	170,668		$	182,074
Net investment income	$	5,390		$	4,372		$	15,463		$	13,625
Ratio of total expenses to average net assets(5)	21.5		%	19.0		%	21.2		%	14.3		%
Ratio of total expenses and loss on extinguishment of debt to average net assets(5)	21.6		%	19.0		%	21.3		%	14.3		%
Ratio of net investment income to average net assets(5)	12.5		%	9.3		%	11.7		%	9.2		%
Ratio of loss on extinguishment of debt to average net assets(6)	0.1		%	—		%	0.1		%	0.1		%
Portfolio turnover(7)	1.8		%	4.2		%	7.1		%	22.7		%

(1)Calculated as ending market value less beginning market value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.

(2)Calculated as ending net asset value less beginning net asset value, adjusted for distributions reinvested at prices based on the Company’s DRIP for the respective distributions.

(3)Based on the average of the net asset value at the beginning and end of the indicated period and, if applicable, the preceding calendar quarters.

(4)Calculated on the average share method.

(5)Annualized.

(6)Not annualized.

(7)Portfolio turnover rate is calculated using the lesser of period-to-date sales, portfolio investment distributions and principal payments or period-to-date purchases over the average of the invested assets at fair value.

(8)Common stock issued through the DRIP and repurchased through the Stock Repurchase Program.