2023 Q3 Form 10-Q Financial Statement

#000121390023067086 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $21.37M $21.73M $7.140M
YoY Change 90.22% 204.38%
Cost Of Revenue $19.15M
YoY Change
Gross Profit $22.05M
YoY Change
Gross Profit Margin 103.19%
Selling, General & Admin $681.0K
YoY Change
% of Gross Profit 3.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $19.83M $19.01M $5.851M
YoY Change 114.13% 224.95%
Operating Profit $2.222M -$19.01M
YoY Change
Interest Expense $13.87M $13.00M $3.014M
YoY Change 152.02% 331.39%
% of Operating Profit 624.26%
Other Income/Expense, Net
YoY Change
Pretax Income $13.87M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $13.87M $21.00M
YoY Change
Net Earnings / Revenue 64.92% 96.64%
Basic Earnings Per Share $0.53 $0.56 $0.30
Diluted Earnings Per Share $0.53 $0.56 $0.30
COMMON SHARES
Basic Shares Outstanding 41.51M shares 39.01M shares 23.53M shares
Diluted Shares Outstanding 40.50M shares 38.91M shares 23.53M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.38M
YoY Change
Cash & Equivalents $12.38M $12.92M $3.414M
Short-Term Investments
Other Short-Term Assets $119.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $12.68M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.294B
YoY Change 25138.51%
Other Assets
YoY Change
Total Long-Term Assets $1.308B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $12.68M
Total Long-Term Assets $1.308B
Total Assets $1.321B $1.325B
YoY Change 33.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $10.60M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.19M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $598.0M
YoY Change
Other Long-Term Liabilities -$5.289M
YoY Change
Total Long-Term Liabilities $592.7M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $47.19M
Total Long-Term Liabilities $592.7M
Total Liabilities $639.9M $677.7M
YoY Change 36.52%
SHAREHOLDERS EQUITY
Retained Earnings $12.18M $20.31M
YoY Change -52.88%
Common Stock $668.5M $39.00K
YoY Change 2156503.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $680.7M $646.9M $389.8M
YoY Change
Total Liabilities & Shareholders Equity $1.321B $1.325B
YoY Change 33.07%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $13.87M $21.00M
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$56.30M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.16M
YoY Change
NET CHANGE
Cash From Operating Activities -56.30M
Cash From Investing Activities
Cash From Financing Activities 60.16M
Net Change In Cash 3.858M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$56.30M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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ck0001747172 Purchases Of Portfolio Investments
PurchasesOfPortfolioInvestments
177629000 usd
ck0001747172 Purchases Of Portfolio Investments
PurchasesOfPortfolioInvestments
181452000 usd
ck0001747172 Proceeds From Sales Of Investments And Principal Repayments
ProceedsFromSalesOfInvestmentsAndPrincipalRepayments
63543000 usd
ck0001747172 Proceeds From Sales Of Investments And Principal Repayments
ProceedsFromSalesOfInvestmentsAndPrincipalRepayments
43777000 usd
ck0001747172 Paidinkind Interest From Portfolio Investments
PaidinkindInterestFromPortfolioInvestments
1035000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1184000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1005000 usd
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
1826000 usd
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
2217000 usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-29000 usd
ck0001747172 Increasedecrease In Receivable For Principal Payments On Investments
IncreasedecreaseInReceivableForPrincipalPaymentsOnInvestments
37000 usd
ck0001747172 Increasedecrease In Receivable For Principal Payments On Investments
IncreasedecreaseInReceivableForPrincipalPaymentsOnInvestments
333000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-140000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
97000 usd
us-gaap Increase Decrease In Payable For Investment Purchased
IncreaseDecreaseInPayableForInvestmentPurchased
-956000 usd
us-gaap Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
433000 usd
us-gaap Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
546000 usd
us-gaap Increase Decrease In Incentive Fee Payable
IncreaseDecreaseInIncentiveFeePayable
4558000 usd
us-gaap Increase Decrease In Incentive Fee Payable
IncreaseDecreaseInIncentiveFeePayable
1730000 usd
ck0001747172 Increasedecrease In Accrued Organizational And Offering Costs Net
IncreasedecreaseInAccruedOrganizationalAndOfferingCostsNet
-6000 usd
ck0001747172 Increasedecrease In Accrued Other General And Administrative Expenses
IncreasedecreaseInAccruedOtherGeneralAndAdministrativeExpenses
2530000 usd
ck0001747172 Increasedecrease In Accrued Other General And Administrative Expenses
IncreasedecreaseInAccruedOtherGeneralAndAdministrativeExpenses
1978000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-77644000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-128424000 usd
ck0001747172 Borrowingspayments On Corporate Credit Facility Net
BorrowingspaymentsOnCorporateCreditFacilityNet
32000000 usd
ck0001747172 Borrowingspayments On Corporate Credit Facility Net
BorrowingspaymentsOnCorporateCreditFacilityNet
-78000000 usd
ck0001747172 Borrowings On Revolving Funding Facility Net
BorrowingsOnRevolvingFundingFacilityNet
120000000 usd
ck0001747172 Borrowings On Revolving Funding Facility Net
BorrowingsOnRevolvingFundingFacilityNet
150000000 usd
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-162000000 usd
ck0001747172 Borrowings On Subscription And Credit Agreement Net
BorrowingsOnSubscriptionAndCreditAgreementNet
-99000000 usd
ck0001747172 Borrowings On Subscription And Credit Agreement Net
BorrowingsOnSubscriptionAndCreditAgreementNet
9000000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1689000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5185000 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
30274000 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
8594000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
68582000 usd
ck0001747172 Proceeds From Issuance Of Notes
ProceedsFromIssuanceOfNotes
75000000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
82037000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
129803000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4393000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1379000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8526000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2035000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12919000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3414000 usd
us-gaap Interest Paid Net
InterestPaidNet
20556000 usd
us-gaap Interest Paid Net
InterestPaidNet
4654000 usd
ck0001747172 Noncash Financing Activities Not Included Herein Consisted Of Reinvestment Of Dividends
NoncashFinancingActivitiesNotIncludedHereinConsistedOfReinvestmentOfDividends
2044000 usd
ck0001747172 Noncash Financing Activities Not Included Herein Consisted Of Reinvestment Of Dividends
NoncashFinancingActivitiesNotIncludedHereinConsistedOfReinvestmentOfDividends
2124000 usd
CY2023Q2 us-gaap Investment Company Financial Commitment To Investee Future Amount
InvestmentCompanyFinancialCommitmentToInvesteeFutureAmount
875188000 usd
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">C.<i> Use of Estimates</i>—the preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Actual results could differ materially from those estimates.</p>
ck0001747172 Third Party Valuation Percentage
ThirdPartyValuationPercentage
0.25 pure
us-gaap Dividends Paidinkind
DividendsPaidinkind
1035000 usd
ck0001747172 Aggregate Interest Income
AggregateInterestIncome
0.013 pure
ck0001747172 Distributions Percentage
DistributionsPercentage
0.90 pure
us-gaap Quarterly Financial Information Income Taxes Significant Variation Description
QuarterlyFinancialInformationIncomeTaxesSignificantVariationDescription
All RICs are subject to a non-deductible 4% excise tax on income that is not distributed on a timely basis in accordance with the calendar year distribution requirements. To avoid the tax, the Company must distribute during each calendar year an amount at least equal to the sum of (i) 98% of its ordinary income for the calendar year, (ii) 98.2% of its net capital gains for the one-year period ending on December 31, the last day of our taxable year, and (iii) undistributed amounts from previous years on which the Company paid no U.S. federal income tax.
ck0001747172 Base Management Fee Annual Rate
BaseManagementFeeAnnualRate
0.015 pure
ck0001747172 Fair Market Value In Percentage
FairMarketValueInPercentage
0.01 pure
CY2023Q2 us-gaap Management Fee Expense
ManagementFeeExpense
2848000 usd
CY2022Q2 us-gaap Management Fee Expense
ManagementFeeExpense
1498000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
5533000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
2824000 usd
us-gaap Investment Company Incentive Fee To Average Net Assets
InvestmentCompanyIncentiveFeeToAverageNetAssets
0.015 pure
us-gaap Investment Company Total Return After Incentive Fees
InvestmentCompanyTotalReturnAfterIncentiveFees
0.06 pure
us-gaap Incentive Fee Description
IncentiveFeeDescription
●Prior to an Exchange Listing: 100% of our pre-incentive fee net investment income for the immediately preceding calendar quarter in excess of 1.50% of the Company’s NAV at the end of the immediately preceding calendar quarter until the Advisor has received 10% of the total pre-incentive fee net income for that calendar quarter and, for pre-incentive fee net investment income in excess of 1.6667%, 10% of all remaining pre-incentive fee net investment income for that quarter.   ● After an Exchange Listing: 100% of the Company’s pre-incentive fee net investment income for the immediately preceding calendar quarter in excess of 1.50% of the Company’s NAV at the end of the immediately preceding calendar quarter until the Advisor has received 15% of the total pre-incentive fee net income for that calendar quarter and, for pre-incentive fee net investment income in excess of 1.7647%, 15% of all remaining pre-incentive fee net investment income for that quarter.
CY2022Q2 us-gaap Incentive Fee Expense
IncentiveFeeExpense
775000 usd
us-gaap Incentive Fee Expense
IncentiveFeeExpense
4558000 usd
ck0001747172 Incentive Fee Expense Excluding Capital Gains
IncentiveFeeExpenseExcludingCapitalGains
1728000 usd
ck0001747172 Capital Gains
CapitalGains
2000 usd
us-gaap Incentive Fee Expense
IncentiveFeeExpense
1730000 usd
CY2018Q4 us-gaap Contribution Of Property
ContributionOfProperty
10000 usd
CY2023Q2 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
1282321000 usd
CY2023Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
1299045000 usd
CY2022Q4 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
1157635000 usd
CY2022Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
1174966000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
70791000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
45901000 usd
CY2023Q2 ck0001747172 Longterm Investments Fair Value Percentage
LongtermInvestmentsFairValuePercentage
1 pure
CY2022Q4 ck0001747172 Longterm Investments Fair Value Percentage
LongtermInvestmentsFairValuePercentage
1 pure
CY2023Q2 us-gaap Investments
Investments
1276048000 usd
CY2023Q2 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
7903000 usd
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
15094000 usd
CY2023Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1299045000 usd
CY2022Q4 us-gaap Investments
Investments
1157971000 usd
CY2022Q4 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
7148000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
9847000 usd
CY2022Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1174966000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1254359000 usd
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.01 pure
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
74419000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
-46298000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-731000 usd
CY2023Q2 ck0001747172 Fair Value Measurement With Unobservable Input Reconciliation Recurring Basis Net Accretion Of Discount On Investments
FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisNetAccretionOfDiscountOnInvestments
2202000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1283951000 usd
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
617067000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
114928000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
-15615000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
322000 usd
CY2022Q2 ck0001747172 Fair Value Measurement With Unobservable Input Reconciliation Recurring Basis Net Accretion Of Discount On Investments
FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisNetAccretionOfDiscountOnInvestments
1262000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
717964000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1165119000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
178664000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
-63543000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-606000 usd
ck0001747172 Fair Value Measurement With Unobservable Input Reconciliation Recurring Basis Net Accretion Of Discount On Investments
FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisNetAccretionOfDiscountOnInvestments
4317000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1283951000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
578445000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
181452000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
-43777000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-190000 usd
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
23000 usd
ck0001747172 Fair Value Measurement With Unobservable Input Reconciliation Recurring Basis Net Accretion Of Discount On Investments
FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisNetAccretionOfDiscountOnInvestments
2011000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
717964000 usd
CY2023Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
125000000 usd
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.0025 pure
ck0001747172 Extension Fee
ExtensionFee
0.0005 pure
ck0001747172 Debt Total Commitment
DebtTotalCommitment
400000000 usd
CY2023Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0706 pure
CY2022Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0291 pure
us-gaap Long Term Debt Average Amount Outstanding
LongTermDebtAverageAmountOutstanding
237000000 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0275 pure
CY2022Q1 us-gaap Other Loans Payable
OtherLoansPayable
150000000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
75000000 usd
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
881000 usd
CY2023Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
75000000 usd
CY2023Q2 ck0001747172 Debt Weighted Average Interest Rate1
DebtWeightedAverageInterestRate1
0.0871 pure
CY2023Q2 ck0001747172 Aggregate Interest Threshold
AggregateInterestThreshold
0.02 pure
CY2023Q2 ck0001747172 Asset Coverage Ratio
AssetCoverageRatio
1.50 pure
us-gaap Line Of Credit Facility Periodic Payment Principal
LineOfCreditFacilityPeriodicPaymentPrincipal
1055000000 usd
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
641000000 usd
CY2023Q2 ck0001747172 Line Of Credit Available Amount
LineOfCreditAvailableAmount
295394000 usd
CY2023Q2 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
635086000 usd
CY2022 us-gaap Line Of Credit Facility Periodic Payment Principal
LineOfCreditFacilityPeriodicPaymentPrincipal
875000000 usd
CY2022 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
577000000 usd
CY2022Q4 ck0001747172 Line Of Credit Available Amount
LineOfCreditAvailableAmount
169793000 usd
CY2022Q4 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
571591000 usd
CY2023Q2 us-gaap Interest Expense Other
InterestExpenseOther
12409000 usd
CY2022Q2 us-gaap Interest Expense Other
InterestExpenseOther
2528000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
593000 usd
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
486000 usd
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
13002000 usd
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
3014000 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.081 pure
CY2022Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.043 pure
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
643780000 usd
CY2022Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
283637000 usd
us-gaap Interest Expense Other
InterestExpenseOther
23341000 usd
us-gaap Interest Expense Other
InterestExpenseOther
4817000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1184000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1005000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
24525000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
5822000 usd
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.079 pure
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.045 pure
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
629398000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
262751000 usd
ck0001747172 Weightedaverage Shares Outstandingin Shares
WeightedaverageSharesOutstandinginShares
22964415 shares
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.066 pure
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.036 pure
us-gaap Investment Company Portfolio Turnover
InvestmentCompanyPortfolioTurnover
0.051 pure
us-gaap Investment Company Portfolio Turnover
InvestmentCompanyPortfolioTurnover
0.069 pure
ck0001747172 Ratio Of Operating Expenses To Average Net Assets
RatioOfOperatingExpensesToAverageNetAssets
0.119 pure
CY2023Q2 us-gaap Shares Issued
SharesIssued
3010942 shares
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000000 usd
CY2022Q2 us-gaap Shares Issued
SharesIssued
4191292 shares
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
68582000 usd
ck0001747172 Aggregate Capital Commitment
AggregateCapitalCommitment
875188000 usd
CY2023Q2 us-gaap Other Commitment
OtherCommitment
257469000 usd
CY2023Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
1
CY2022Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.26
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
123593 shares
ck0001747172 Stock Issued During Period Value Dividends Reinvestment Plan
StockIssuedDuringPeriodValueDividendsReinvestmentPlan
2044000 usd
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
130860 shares
ck0001747172 Stock Issued During Period Value Dividends Reinvestment Plan
StockIssuedDuringPeriodValueDividendsReinvestmentPlan
2124000 usd
CY2023Q2 ck0001747172 Unfunded Commitments
UnfundedCommitments
116145000 usd
CY2022Q4 ck0001747172 Unfunded Commitments
UnfundedCommitments
149338000 usd
CY2023Q2 ck0001747172 Unfunded Commitments
UnfundedCommitments
116145000 usd
CY2022Q4 ck0001747172 Unfunded Commitments
UnfundedCommitments
149338000 usd
CY2023Q2 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
21002000 usd
CY2022Q2 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
7462000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
40409000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
13191000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38905173 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23529376 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37425525 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22964415 shares
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.54
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.32
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.08
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.57
CY2022Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
16.5
CY2021Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
16.22
us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
1.1
us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.58
us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-0.02
us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
0.01
us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
1.08
us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
0.59
us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
1
us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
0.26
ck0001747172 Net Decrease In Net Assets Resulting From Distributions Subtotal
NetDecreaseInNetAssetsResultingFromDistributionsSubtotal
-1
ck0001747172 Net Decrease In Net Assets Resulting From Distributions Subtotal
NetDecreaseInNetAssetsResultingFromDistributionsSubtotal
-0.26
CY2023Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
16.58
CY2022Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
16.55
CY2023Q2 us-gaap Shares Outstanding
SharesOutstanding
39013826 shares
CY2022Q2 us-gaap Shares Outstanding
SharesOutstanding
23550054 shares
CY2023Q2 us-gaap Net Regulatory Assets
NetRegulatoryAssets
646926000 usd
CY2022Q2 us-gaap Net Regulatory Assets
NetRegulatoryAssets
389763000 usd
ck0001747172 Weightedaverage Shares Outstandingin Shares
WeightedaverageSharesOutstandinginShares
37425525 shares
ck0001747172 Ratio Of Operating Expenses To Average Net Assets
RatioOfOperatingExpensesToAverageNetAssets
0.064 pure
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.135 pure
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.074 pure
CY2023Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.01
CY2022Q2 ck0001747172 Realized Investment Gains Losses Net
RealizedInvestmentGainsLossesNet
usd
ck0001747172 Realized Investment Gains Losses Net
RealizedInvestmentGainsLossesNet
usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
ck0001747172 Net Realizedgainslosses On Investments
NetRealizedgainslossesOnInvestments
usd
ck0001747172 Paidinkind Interest From Portfolio Investments
PaidinkindInterestFromPortfolioInvestments
usd
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
usd
us-gaap Increase Decrease In Payable For Investment Purchased
IncreaseDecreaseInPayableForInvestmentPurchased
usd
ck0001747172 Increasedecrease In Accrued Organizational And Offering Costs Net
IncreasedecreaseInAccruedOrganizationalAndOfferingCostsNet
usd
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
usd
ck0001747172 Proceeds From Issuance Of Notes
ProceedsFromIssuanceOfNotes
usd
us-gaap Dividends Paidinkind
DividendsPaidinkind
usd
CY2023Q2 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
usd
CY2022Q2 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22964415 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23529376 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37425525 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38905173 shares
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.32
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.54
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.57
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.08
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001747172

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ck0001747172-20230630.xsd Edgar Link pending
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