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Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value measurements of our investments

		Fair Value Hierarchy as of December 31, 2022
Investments:		Level 1				Level 2				Level 3				Total
Senior Secured First Lien Term Loans		$	-			$	14,030			$	74,661			$	88,691
Senior Secured Notes			-				-				1,617				1,617
Unsecured Debt			-				-				-				-
Equity/Warrants			28,231				5,669				59,063				92,963
Total		$	28,231			$	19,699			$	135,341			$	183,271

		Fair Value Hierarchy as of September 30, 2022
Investments:		Level 1				Level 2				Level 3				Total
Senior Secured First Lien Term Loans		$	-			$	13,996			$	74,252			$	88,248
Senior Secured Second Lien Term Loans			-				-				2,607				2,607
Senior Secured Notes			-				1,659				-				1,659
Unsecured Debt			-				-				-				-
Equity/Warrants			24,750				5,877				69,816				100,443
Total		$	24,750			$	21,532			$	146,675			$	192,957

Schedule of investments that use level 3 inputs

		Senior Secured First Lien Term Loans				Senior Secured Second Lien Term Loans				Senior Secured Notes				Equities/ Warrants				Total
Balance as of September 30, 2022		$	74,252			$	2,607			$	-			$	69,816			$	146,675
Purchases and other adjustments to cost			2,900				-				-				4,282				7,184
Sales			(1,046	)			(2,607	)			-				(14,644	)			(18,297)
Net realized gains/(losses) from investments			3				5				-				-				8
Net unrealized gains/(losses)			(1,448	)			(5	)			(42	)			(391	)			(1,888)
Transfer in/(out)			-				-				1,659				-				1,659
Balance as of December 31, 2022		$	74,661			$	-			$	1,617			$	59,063			$	135,341

		Senior Secured First Lien Term Loans				Senior Secured Second Lien Term Loans				Secured Debt				Unsecured Debt				Equities/ Warrants				Total
Balance as of September 30, 2021		$	61,934			$	2,490			$	2,500			$	-			$	48,889			$	115,813
Purchases and other adjustments to cost			27,629				-				-				-				38,344				65,973
Sales			(32,951	)			-				-				(100	)			(40,292	)			(73,343	)
Net realized gains/(losses) from investments			(21,759	)			-				-				(99	)			36,153				14,295
Net unrealized gains/(losses)			20,453				3				(2,500	)(1)			199				(32,443	)(1)			(14,288	)
Balance as of December 31, 2021		$	55,306			$	2,493			$	-			$	-			$	50,651			$	108,450

Schedule of quantitative information about level 3 fair value measurements of our investments

Fair Value

Valuation Methodology

Unobservable Input

Range (Weighted Average)

Senior Secured First Lien Term Loans

$

65,118

Income Approach

Market Yield

8.50% - 29.0% (13.85%)

Senior Secured First Lien Term Loans

4,788

Market Approach

EBITDA Multiple

4.0x - 7.25x (4.9x)

Senior Secured First Lien Term Loans

4,755

Market Approach

Revenue Multiple

0.2x - 0.3x (0.3x)

Senior Secured Notes

1,617

Market Approach

EBITDA Multiple

21.0x - 22.0x (21.5x)

Equity/Warrants

36,672

Cost Approach

Replacement Cost

N/A

Equity/Warrants

11,244

Market Approach

EBITDA Multiple

2.0x - 32.2x (6.49x)

Equity/Warrants

10,036

Income Approach

Market Yield

0.00% - 13.75% (6.52%)

Equity/Warrants

1,111

Market Approach

Sum of the Parts/Estimated proceeds

6.9x - 7.6x (7.3x)

Total

$

135,341

Fair Value

Valuation Methodology

Unobservable Input

Range (Weighted Average)

Senior Secured First Lien Term Loans

$

65,428

Income Approach

Market Yield

8.50% - 24.00% (10.57%)

Senior Secured First Lien Term Loans

3,807

Market Approach

EBITDA Multiple

4.0x - 5.0x (4.5x)

Senior Secured First Lien Term Loans

4,152

Market Approach

Revenue Multiple

0.2x - 0.3x (2.5x)

Senior Secured First Lien Term Loans

865

Income Approach

Market Spread

5.75% - 6.25% (6.00%)

Senior Secured Second Lien Term Loans

2,607

Market Approach

EBITDA Multiple

9.0x - 10.0x (9.5x)

Equity/Warrants

47,138

Cost Approach

Replacement Cost

N/A

Equity/Warrants

11,444

Market Approach

EBITDA Multiple

2.0x - 21.0x (17.4x)

Equity/Warrants

9,951

Income Approach

Market Yield

8.50% - 13.25% (12.75%)

Equity/Warrants

1,283

Market Approach

Sum of the Parts/Estimated Proceeds

8.1x - 11.4x (9.8x)

Total

$

146,675

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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