| COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES At September 30, 2023, MSC Income Fund had the following outstanding commitments (in thousands):
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| Investments with equity capital commitments that have not yet funded: |
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Amount |
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| Freeport First Lien Loan Fund III LP |
|
$ |
7,172 |
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| HPEP 3, L.P. |
|
1,555 |
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| Brightwood Capital Fund III, LP |
|
100 |
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| Total Equity Commitments |
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$ |
8,827 |
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| Investments with commitments to fund revolving loans that have not been fully drawn or term loans with additional commitments not yet funded: |
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| Power System Solutions |
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$ |
3,989 |
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| Insight Borrower Corporation |
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3,888 |
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| AB Centers Acquisition Corporation |
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3,698 |
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| Mako Steel, LP |
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3,245 |
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| HEADLANDS OP-CO LLC |
|
3,000 |
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| NWN Corporation |
|
2,907 |
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| Winter Services LLC |
|
2,778 |
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| SI East, LLC |
|
1,875 |
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| American Health Staffing Group, Inc. |
|
1,667 |
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| IG Parent Corporation |
|
1,667 |
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| Infolinks Media Buyco, LLC |
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1,265 |
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| Burning Glass Intermediate Holding Company, Inc. |
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1,239 |
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| Bettercloud, Inc. |
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1,216 |
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| Bluestem Brands, Inc. |
|
1,119 |
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| Dalton US Inc. |
|
1,100 |
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| IG Investor, LLC |
|
1,000 |
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| NexRev LLC |
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1,000 |
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| Roof Opco, LLC |
|
972 |
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| Bond Brand Loyalty ULC |
|
900 |
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| Classic H&G Holdco, LLC |
|
860 |
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| Richardson Sales Solutions |
|
833 |
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| Engineering Research & Consulting, LLC |
|
828 |
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| GRT Rubber Technologies LLC |
|
812 |
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| CaseWorthy, Inc. |
|
800 |
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| VVS Holdco, LLC |
|
800 |
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| Cody Pools, Inc. |
|
786 |
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| Invincible Boat Company, LLC. |
|
768 |
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| Acumera, Inc. |
|
768 |
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| NinjaTrader, LLC |
|
750 |
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| RA Outdoors LLC |
|
747 |
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| Evergreen North America Acquisitions, LLC |
|
710 |
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| Channel Partners Intermediateco, LLC |
|
667 |
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| Centre Technologies Holdings, LLC |
|
600 |
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| Paragon Healthcare, Inc. |
|
571 |
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| JTI Electrical & Mechanical, LLC |
|
561 |
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| Hawk Ridge Systems, LLC |
|
550 |
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| ITA Holdings Group, LLC |
|
543 |
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| Wall Street Prep, Inc. |
|
500 |
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| Imaging Business Machines, L.L.C. |
|
494 |
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| Microbe Formulas, LLC |
|
434 |
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| Watterson Brands, LLC |
|
433 |
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| Xenon Arc, Inc. |
|
423 |
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| Trantech Radiator Topco, LLC |
|
400 |
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| Chamberlin Holding LLC |
|
400 |
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| AMEREQUIP LLC. |
|
391 |
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| South Coast Terminals Holdings, LLC |
|
381 |
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| PTL US Bidco, Inc |
|
365 |
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| Escalent, Inc. |
|
349 |
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| West Star Aviation Acquisition, LLC |
|
333 |
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| AVEX Aviation Holdings, LLC |
|
307 |
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| Gamber-Johnson Holdings, LLC |
|
300 |
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| Career Team Holdings, LLC |
|
300 |
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| Archer Systems, LLC |
|
232 |
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| Batjer TopCo, LLC |
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230 |
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| SPAU Holdings, LLC |
|
220 |
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| Metalforming Holdings, LLC |
|
205 |
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| Mystic Logistics Holdings, LLC |
|
200 |
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| Johnson Downie Opco, LLC |
|
200 |
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| Orttech Holdings, LLC |
|
200 |
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| Inspire Aesthetics Management, LLC |
|
187 |
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| Analytical Systems Keco Holdings, LLC |
|
160 |
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| ATS Operating, LLC |
|
150 |
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| Elgin AcquireCo, LLC |
|
123 |
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| Gulf Publishing Holdings, LLC |
|
100 |
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| Clad-Rex Steel, LLC |
|
100 |
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| Adams Publishing Group, LLC |
|
93 |
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| AAC Holdings, Inc. |
|
71 |
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| Jackmont Hospitality, Inc. |
|
67 |
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| SIB Holdings, LLC |
|
28 |
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| Interface Security Systems, L.L.C |
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1 |
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| Total Loan Commitments |
|
$ |
59,856 |
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| Total Commitments |
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$ |
68,683 |
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MSC Income Fund will fund its unfunded commitments from the same sources it uses to fund its investment commitments that are funded at the time they are made (which are typically through existing cash and cash equivalents and borrowings under the Credit Facilities). MSC Income Fund follows a process to manage its liquidity and ensure that it has available capital to fund its unfunded commitments as necessary. MSC Income Fund had no unrealized appreciation or depreciation on the outstanding unfunded commitments as of September 30, 2023.
MSC Income Fund may, from time to time, be involved in litigation arising out of its operations in the normal course of business or otherwise. Furthermore, third parties may try to impose liability on MSC Income Fund in connection with the activities of its portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, MSC Income Fund does not expect any current matters will materially affect its financial condition or results of operations; however, there can be no assurance whether any pending legal proceedings will have a material adverse effect on MSC Income Fund’s financial condition or results of operations in any future reporting period.
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