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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 28,717 $ 31,486
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:    
Investments in portfolio companies (183,263) (112,086)
Proceeds from sales and repayments of debt investments in portfolio companies 122,437 95,363
Proceeds from sales and return of capital of equity investments in portfolio companies 8,738 11,451
Net unrealized appreciation (5,093) (31,618)
Net realized loss on portfolio investments 1,570 25,421
Amortization of deferred financing costs 1,551 757
Amortization of deferred offering costs 0 63
Accretion of unearned income (3,908) (4,521)
Payment-in-kind interest (2,862) (3,073)
Cumulative dividends (51) (86)
Deferred tax provision 2,840 2,693
Changes in other assets and liabilities:    
Interest and dividend receivable (4) 1,474
Prepaid and other assets (11,567) (6)
Management and incentive fees payable 25 1,469
Interest payable 554 1,180
Accounts payable and other liabilities 482 (966)
Net cash provided by (used in) operating activities (39,834) 19,001
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 5,000 2,000
Redemption of common stock (12,729) (10,508)
Payment of offering costs 0 (63)
Dividends paid (19,713) (17,671)
Proceeds from Credit Facilities 191,000 74,000
Repayments on Credit Facilities (125,000) (58,000)
Payment of deferred financing costs (26) (10)
Net cash provided by (used in) financing activities 38,532 (10,252)
Net increase (decrease) in cash and cash equivalents (1,302) 8,749
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 30,786 21,312
CASH AND CASH EQUIVALENTS AT END OF PERIOD 29,484 30,061
Supplemental cash flow disclosures:    
Interest paid 16,990 15,261
Taxes paid 438 1,716
Non-cash financing activities:    
Dividends declared and unpaid 14,425 14,009
Value of shares issued pursuant to the DRIP $ 9,125 $ 9,174