Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 12,231 $ 16,213
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Investments in portfolio companies (24,971) (53,859)
Proceeds from sales and repayments of debt investments in portfolio companies 23,663 73,498
Proceeds from sales and return of capital of equity investments in portfolio companies 6,290 0
Net unrealized (appreciation) depreciation 4,139 (3,731)
Net realized gain on the sale of portfolio investments (3,432) (253)
Amortization of deferred financing costs 376 325
Amortization of deferred offering costs 66 0
Accretion of unearned income (2,711) (1,337)
Payment-in-kind interest (1,685) (1,009)
Cumulative dividends (45) 0
Deferred tax provision 860 121
Changes in other assets and liabilities:    
Interest and dividend receivable (749) 2,566
Prepaid and other assets 4 320
Management and incentive fees payable 533 (198)
Interest payable 2,279 1,217
Accounts payable and other liabilities (398) (1,270)
Net cash provided by operating activities 16,450 32,603
CASH FLOWS FROM FINANCING ACTIVITIES    
Redemption of common stock (3,984) (3,790)
Payment of offering costs (66) 0
Dividends paid (8,404) (7,762)
Proceeds from Credit Facilities 13,000 32,000
Repayments on Credit Facilities (11,000) (112,000)
Proceeds from Series A Notes due 2026 0 72,500
Payment of deferred financing costs 0 (122)
Net cash used in financing activities (10,454) (19,174)
Net increase in cash and cash equivalents 5,996 13,429
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 21,312 25,813
CASH AND CASH EQUIVALENTS AT END OF PERIOD 27,308 39,242
Supplemental cash flow disclosures:    
Interest paid 5,680 2,988
Taxes paid 831 1,668
Non-cash financing activities:    
Dividends declared and unpaid 14,026 11,974
Value of shares issued pursuant to the DRIP $ 4,414 $ 4,212