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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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|---|---|---|
| Operating activities: | ||
| Net income | ||
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Provision for current expected credit losses | ||
| Amortization of deferred financing costs | ||
| Accretion of deferred loan original issue discount and premium, net | ||
| Stock-based compensation | ||
| Interest drawn on loans | ||
| PIK interest | ||
| Changes in operating assets and liabilities: | ||
| Interest receivable | ||
| Prepaid expenses and other assets | ||
| Accrued interest | ||
| Accrued management and incentive fees | ||
| Accrued direct administrative expenses | ||
| Accounts payable and other liabilities | ||
| Net cash (used in) provided by operating activities | ||
| Cash flows from investing activities: | ||
| Issuance of and fundings on loans | ||
| Principal repayment of loans | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities: | ||
| Net transfers and distributions from (to) Former Parent | ||
| Proceeds from sale of common stock | ||
| Payment of offering costs - equity offering | ||
| Payment of financing costs | ||
| Borrowings on revolving credit facilities | ||
| Repayment of revolving credit facility | ||
| Repayment of revolving credit facilities | ||
| Dividends paid to common shareholders | ||
| Net cash (used in) provided by financing activities | ||
| Net (decrease) increase in cash and cash equivalents | ||
| Cash and cash equivalents, beginning of period | ||
| Cash and cash equivalents, end of period | ||
| Supplemental disclosure of non-cash activity: | ||
| OID withheld from funding of loans | ||
| Dividends declared and not yet paid | ||
| Offering costs included in accounts payable and other liabilities | ||
| Supplemental information: | ||
| Interest paid during the period | ||
| Income taxes paid during the period |
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