| COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES At March 31, 2023, the Company 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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| Brightwood Capital Fund III, LP |
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$ |
100 |
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| Freeport First Lien Loan Fund III LP |
|
6,733 |
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| HPEP 3, L.P. |
|
1,555 |
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| Total Equity Commitments |
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$ |
8,388 |
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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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| Winter Services LLC |
|
$ |
5,556 |
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| Infolinks Media Buyco, LLC |
|
3,150 |
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| NinjaTrader, LLC |
|
3,078 |
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| HEADLANDS OP-CO LLC |
|
3,000 |
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| SI East, LLC |
|
2,500 |
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| Bluestem Brands, Inc. |
|
2,309 |
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| Mako Steel, LP |
|
2,028 |
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| MB2 Dental Solutions, LLC |
|
2,023 |
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| Roof Opco, LLC |
|
1,944 |
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| American Health Staffing Group, Inc. |
|
1,667 |
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| IG Parent Corporation |
|
1,667 |
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| KMS, LLC |
|
1,357 |
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| ArborWorks, LLC |
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1,242 |
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| Dalton US Inc. |
|
1,216 |
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| Bettercloud, Inc. |
|
1,216 |
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| GRT Rubber Technologies LLC |
|
1,175 |
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| Burning Glass Intermediate Holding Company, Inc. |
|
1,033 |
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| SPAU Holdings, LLC |
|
1,000 |
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| NWN Corporation |
|
930 |
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| RA Outdoors LLC |
|
864 |
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| Classic H&G Holdco, LLC |
|
860 |
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| CaseWorthy, Inc. |
|
800 |
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| VVS Holdco, LLC |
|
800 |
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| Jackmont Hospitality, Inc. |
|
800 |
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| DTE Enterprises, LLC |
|
750 |
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| Direct Marketing Solutions, Inc. |
|
750 |
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| Evergreen North America Acquisitions, LLC |
|
710 |
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| JTI Electrical & Mechanical, LLC |
|
702 |
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| West Star Aviation Acquisition, LLC |
|
667 |
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| Centre Technologies Holdings, LLC |
|
600 |
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| Xenon Arc, Inc. |
|
563 |
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| PTL US Bidco, Inc |
|
531 |
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| Engineering Research & Consulting, LLC |
|
517 |
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| Robbins Bros. Jewelry, Inc. |
|
500 |
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| Wall Street Prep, Inc. |
|
500 |
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| The Affiliati Network, LLC |
|
500 |
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| Watterson Brands, LLC |
|
471 |
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| MonitorUS Holding, LLC |
|
470 |
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| Microbe Formulas, LLC |
|
434 |
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| Paragon Healthcare, Inc. |
|
429 |
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| Trantech Radiator Topco, LLC |
|
400 |
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| Chamberlin Holding LLC |
|
400 |
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| Colonial Electric Company LLC |
|
400 |
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| Channel Partners Intermediateco, LLC |
|
400 |
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| AMEREQUIP LLC. |
|
391 |
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| South Coast Terminals Holdings, LLC |
|
381 |
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| Cody Pools, Inc. |
|
354 |
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| Invincible Boat Company, LLC. |
|
353 |
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| Batjer TopCo, LLC |
|
300 |
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| Gamber-Johnson Holdings, LLC |
|
300 |
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| Archer Systems, LLC |
|
232 |
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| AVEX Aviation Holdings, LLC |
|
205 |
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| MetalForming AcquireCo, LLC |
|
205 |
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| ATS Operating, LLC |
|
200 |
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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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| Career Team Holdings, LLC |
|
200 |
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| AB Centers Acquisition Corporation |
|
129 |
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| Elgin AcquireCo, LLC |
|
123 |
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| Gulf Publishing Holdings, LLC |
|
100 |
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| Flame King Holdings, LLC |
|
100 |
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| Clad-Rex Steel, LLC |
|
100 |
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| AAC Holdings, Inc. |
|
85 |
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| Adams Publishing Group, LLC |
|
47 |
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| Acumera, Inc. |
|
5 |
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| Interface Security Systems, L.L.C |
|
1 |
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| Total Loan Commitments |
|
$ |
57,320 |
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| Total Commitments |
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$ |
65,708 |
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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 March 31, 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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