Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.24.1.1.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 10,589 $ 12,231
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:    
Investments in portfolio companies (75,728) (24,971)
Proceeds from sales and repayments of debt investments in portfolio companies 49,378 23,663
Proceeds from sales and return of capital of equity investments in portfolio companies 2,745 6,290
Net unrealized depreciation 1,133 4,139
Net realized (gain) loss on portfolio investments 1,884 (3,432)
Amortization of deferred financing costs 772 376
Amortization of deferred offering costs 0 66
Accretion of unearned income (1,611) (2,711)
Payment-in-kind interest (1,525) (1,685)
Cumulative dividends (22) (45)
Deferred tax provision 611 860
Changes in other assets and liabilities:    
Interest and dividend receivable (1,283) (749)
Prepaid and other assets (696) 4
Management and incentive fees payable (80) 533
Interest payable 2,145 2,279
Accounts payable and other liabilities 119 (398)
Net cash provided by (used in) operating activities (11,569) 16,450
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 2,500 0
Redemption of common stock (6,547) (3,984)
Payment of offering costs 0 (66)
Dividends paid (9,522) (8,404)
Proceeds from Credit Facilities 82,000 13,000
Repayments on Credit Facilities (63,000) (11,000)
Net cash provided by (used in) financing activities 5,431 (10,454)
Net increase (decrease) in cash and cash equivalents (6,138) 5,996
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 30,786 21,312
CASH AND CASH EQUIVALENTS AT END OF PERIOD 24,648 27,308
Supplemental cash flow disclosures:    
Interest paid 6,632 5,680
Taxes paid 384 831
Non-cash financing activities:    
Dividends declared and unpaid 14,821 14,026
Value of shares issued pursuant to the DRIP $ 4,493 $ 4,414