| COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES At June 30, 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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| Freeport First Lien Loan Fund III LP |
|
$ |
6,733 |
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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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$ |
8,388 |
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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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| Power System Solutions |
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$ |
3,989 |
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| AB Centers Acquisition Corporation |
|
3,897 |
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| HEADLANDS OP-CO LLC |
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3,000 |
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| Winter Services LLC |
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2,778 |
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| SI East, LLC |
|
2,500 |
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| Bluestem Brands, Inc. |
|
2,165 |
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| Roof Opco, LLC |
|
1,944 |
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| NWN Corporation |
|
1,744 |
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| American Health Staffing Group, Inc. |
|
1,667 |
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| IG Parent Corporation |
|
1,667 |
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| Imaging Business Machines, L.L.C. |
|
1,483 |
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| Mako Steel, LP |
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1,420 |
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| Infolinks Media Buyco, LLC |
|
1,260 |
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| RA Outdoors LLC |
|
1,235 |
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| Bettercloud, Inc. |
|
1,216 |
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| Dalton US Inc. |
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1,187 |
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| ArborWorks, LLC |
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1,130 |
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| Burning Glass Intermediate Holding Company, Inc. |
|
1,033 |
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| GRT Rubber Technologies LLC |
|
1,010 |
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| IG Investor, LLC |
|
1,000 |
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| NexRev LLC |
|
1,000 |
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| Bond Brand Loyalty ULC |
|
900 |
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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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| Cody Pools, Inc. |
|
786 |
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| NinjaTrader, 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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| SPAU Holdings, LLC |
|
700 |
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| West Star Aviation Acquisition, LLC |
|
667 |
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| Engineering Research & Consulting, LLC |
|
621 |
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| Centre Technologies Holdings, LLC |
|
600 |
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| ITA Holdings Group, LLC |
|
543 |
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| Paragon Healthcare, Inc. |
|
543 |
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| Watterson Brands, LLC |
|
534 |
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| Robbins Bros. Jewelry, Inc. |
|
500 |
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| Wall Street Prep, Inc. |
|
500 |
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| Inspire Aesthetics Management, LLC |
|
475 |
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| Jackmont Hospitality, Inc. |
|
473 |
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| PTL US Bidco, Inc |
|
469 |
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| MonitorUS Holding, LLC |
|
467 |
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| Xenon Arc, Inc. |
|
465 |
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| Invincible Boat Company, LLC. |
|
457 |
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| Microbe Formulas, LLC |
|
434 |
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| Acumera, Inc. |
|
427 |
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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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| Escalent, Inc. |
|
349 |
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| AVEX Aviation Holdings, LLC |
|
307 |
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| Batjer TopCo, LLC |
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300 |
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| Gamber-Johnson Holdings, LLC |
|
300 |
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| Archer Systems, LLC |
|
232 |
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| Channel Partners Intermediateco, LLC |
|
209 |
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| MetalForming AcquireCo, LLC |
|
205 |
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| SIB Holdings, 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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| ATS Operating, LLC |
|
150 |
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| Career Team Holdings, 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 |
|
94 |
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| Hawk Ridge Systems, LLC |
|
84 |
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| AAC Holdings, Inc. |
|
71 |
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| Interface Security Systems, L.L.C |
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1 |
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| Total Loan Commitments |
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$ |
59,405 |
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| Total Commitments |
|
$ |
67,793 |
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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 June 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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