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v3.25.2

Borrowings (Tables) | 9 Months Ended
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Jun. 30, 2025
Borrowings [Abstract] |
Schedule of Debt Issuance Costs | The Company’s outstanding debt excluding debt issuance costs as of June 30, 2025 and September 30, 2024 were as follows (dollars in thousands):
|  | June 30, 2025 |  |  | September 30, 2024 |
|  | Aggregate Principal Available (1) |  |  | Principal Amount Outstanding |  |  | Carrying Value |  |  | Fair Value |  |  | Aggregate Principal Available (1) |  |  | Principal Amount Outstanding |  |  | Carrying Value |  |  | Fair Value |
2028 Notes |  | $ | 57,500 |  |  | $ | 57,500 |  |  | $ | 56,393 |  |  | $ | 54,096 |  |  | $ | 57,500 |  |  | $ | 57,500 |  |  | $ | 56,143 |  |  | $ | 51,980 |
2028 Promissory Note |  |  | 1,661 |  |  |  | 1,661 |  |  |  | 1,534 |  |  |  | 1,661 |  |  |  | 1,661 |  |  |  | 1,661 |  |  |  | 1,508 |  |  |  | 1,661 |
Revolving Credit Facility |  |  | 13,008 |  |  |  | 86,992 |  |  |  | 86,992 |  |  |  | 86,992 |  |  |  | 9,427 |  |  |  | 78,073 |  |  |  | 78,073 |  |  |  | 78,073 |
Total debt |  | $ | 72,169 |  |  | $ | 146,153 |  |  | $ | 144,919 |  |  | $ | 142,749 |  |  | $ | 68,588 |  |  | $ | 137,234 |  |  | $ | 135,724 |  |  | $ | 131,714 |
(1) | For the 2028 Notes and 2028 Promissory Note, this represents the total principal amount and for the Revolving Credit Facility, this represents the undrawn principal amount.
Schedule of Consolidated Statements of Assets and Liabilities | Debt issuance costs related to the 2028 Notes are reported on the Consolidated Statements of Assets and Liabilities as a direct deduction from the face amount of the 2028 Notes. As of June 30, 2025 and September 30, 2024, debt issuance costs related to the 2023 Notes and the 2028 Note were as follows (dollars in thousands):
|  | For the nine months ended |  |  | For the year ended |
|  | June 30, 2025 |  |  | September 30, 2024 |
|  | 2028 Notes |  |  | 2028 Promissory Note |  |  | Total |  |  | 2028 Notes |  |  | 2028 Promissory Note |  |  | Total |
Total debt issuance costs at beginning of period |  | $ | 1,357 |  |  | $ | 154 |  |  | $ | 1,511 |  |  | $ | 1,689 |  |  | $ | - |  |  | $ | 1,689 |
Debt issuance costs during the period |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 169 |  |  |  | 169 |
Amortized debt issuance costs |  |  | 250 |  |  |  | 27 |  |  |  | 277 |  |  |  | 332 |  |  |  | 15 |  |  |  | 347 |
Unamortized debt issuance costs |  | $ | 1,107 |  |  | $ | 127 |  |  | $ | 1,234 |  |  | $ | 1,357 |  |  | $ | 154 |  |  | $ | 1,511 |
Schedule of Interest Expense, Amortized Debt Issuance Costs, Amortized Deferred Financing Costs, Weighted Average Stated Interest Rate And Weighted Average Outstanding Debt | For the three and nine months ended June 30, 2025 and 2024, the components of interest expense, amortized debt issuance costs, amortized deferred financing costs, weighted average stated interest rate and weighted average outstanding debt balance for the 2028 Notes, 2028 Promissory Note and the Credit Facility were as follows (dollars in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Nine Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
2028 Notes Interest |  | $ | 753 |  |  | $ | 756 |  |  | $ | 2,263 |  |  | $ | 2,264 |
2028 Promissory Note Interest |  |  | 22 |  |  |  | - |  |  |  | 66 |  |  |  | - |
Credit Facility Interest |  |  | 1,607 |  |  |  | 739 |  |  |  | 4,601 |  |  |  | 1,930 |
Commitment fees |  |  | (24 | ) |  |  | 17 |  |  |  | (15 | ) |  |  | 48 |
Amortization of deferred financing costs |  |  | 99 |  |  |  | 127 |  |  |  | 483 |  |  |  | 340 |
Amortization of debt issuance costs |  |  | 92 |  |  |  | 83 |  |  |  | 276 |  |  |  | 249 |
Other |  |  | 111 |  |  |  | - |  |  |  | 111 |  |  |  | - |
Total |  | $ | 2,660 |  |  | $ | 1,722 |  |  | $ | 7,785 |  |  | $ | 4,831 |
Weighted average stated interest rate |  |  | 6.6 | % |  |  | 6.4 | % |  |  | 6.6 | % |  |  | 6.3 | %
Weighted average debt outstanding |  | $ | 151,623 |  |  | $ | 94,127 |  |  | $ | 143,377 |  |  | $ | 88,660 |

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