10-Q
Quarterly Report
26North BDC, Inc.
CIK: 1950976
File #: 000-56594
Balance Sheet
180 line items · 2 periods
XBRL
| Item | Mar 31, 2025 | Dec 31, 2024 |
|---|---|---|
Assets | ||
Non-controlled/non-affiliated investments at fair value (amortized cost $922,170 and $665,676, respectively) | 922,418,000 | 666,141,000 |
Debt Investments | CPEX Purchaser, LLC|First Lien Senior Secured Term Loan|SoftwareSOFR + 6.000|10.345%|2/29/2024|3/1/2030 | — | 32,634,000 |
Debt Investments | Baxter Planning Systems, LLC|First Lien Senior Secured Term Loan|Air Freight & LogisticsSOFR + 6.250|10.677% (incl.3.375% PIK)|5/20/2024|5/20/2031 | — | 8,180,000 |
Debt Investments | CData Software, Inc.|First Lien Senior Secured Payment Delayed Draw Term Loan|IT ServicesSOFR + 6.250|10.575%|7/18/2024|7/18/2030 | — | 1,620,000 |
Debt Investments | Adelaide Borrower, LLC |First Lien Senior Secured Term Loan|Multi-UtilitiesSOFR + 6.250|10.579%| 5/8/2024| 5/8/2030 | — | 23,502,000 |
Debt Investments | CData Software, Inc.|First Lien Senior Secured Revolving Loan|IT ServicesSOFR + 5.750|7/18/2024|7/18/2030 | (65,000) | (65,000) |
Debt Investments |Sapphire Software Buyer, Inc.| First Lien Senior Secured Term Loan|IT ServicesSOFR + 5.000|9.745% (incl. 3.000%PIK)|9/30/2024| 9/30/2031 | — | 30,077,000 |
Debt Investments |Zone & Company Software Consulting, LLC| First Lien Senior Secured Delayed Draw Term Loan| Diversified Financial ServicesSOFR + 6.000|9/13/2024|9/13/2030 | (148,000) | (178,000) |
Debt Investments |Zone & Company Software Consulting, LLC| First Lien Senior Secured Payment Delayed Draw Term Loan| Diversified Financial ServicesSOFR + 6.500|10.859|9/13/2024|9/13/2030 | — | 400,000 |
Debt Investments |Xactly Corporation| First Lien Senior Secured Revolving Loan|Professional ServicesSOFR + 6.250|7/12/2024|7/30/2027 | (8,000) | (8,000) |
Debt Investments |United Flow Technologies Intermediate HoldCo II, LLC| First Lien Senior Secured Term Loan|Multi-UtilitiesSOFR + 5.250|9.579|6/21/2024|6/23/2031 | — | 27,327,000 |
Diversified Consumer Services | 36,114,000 | 7,277,000 |
Debt Investments | Coding Solutions Acquisition, Inc. |First Lien Senior Secured Revolving Loan|Health Care TechnologySOFR + 5.000|9.318%|8/7/2024|8/7/2031 | — | 2,561,000 |
Debt Investments | FH DMI Buyer, Inc.| First Lien Senior Secured Delayed Draw Term Loan|Health Care Equipment & SuppliesSOFR + 5.000|10/11/2024| 10/11/2030 | — | (102,000) |
Life Sciences Tools & Services | 28,819,000 | 16,167,000 |
Debt Investments | Ascend Partner Services LLC |First Lien Senior Secured Delayed Draw Term Loan|Professional ServicesSOFR + 4.500|8/9/2024|8/11/2031 | — | (104,000) |
Debt Investments |Zone & Company Software Consulting, LLC| First Lien Senior Secured Term Loan| Diversified Financial ServicesSOFR + 6.500|10.859|9/13/2024|9/13/2030 | — | 45,894,000 |
Debt Investments |Runway Bidco, LLC| First Lien Senior Secured Delayed Draw Term Loan|SoftwareSOFR + 5.000|12/17/2024|12/17/2031 | (50,000) | (50,000) |
Debt Investments | Alert SRC Newco LLC |First Lien Senior Secured Revolving Loan|Commercial Services & SuppliesSOFR + 5.000|12/11/2024|12/11/2030 | (33,000) | (33,000) |
Debt Investments | Icefall Parent, Inc.|First Lien Senior Secured Term Loan|Diversified Financial ServicesSOFR + 6.500|10.857%|1/26/2024| 1/25/2030 | — | 24,563,000 |
Common Equity| FH DMI Buyer, Inc |Common Stock| Health Care Equipment & Supplies|10/11/2024 | 348,000 | 400,000 |
Multi-Utilities | 62,081,000 | 52,039,000 |
Common Equity | 348,000 | 400,000 |
Debt Investments |Azurite Intermediate Holdings, Inc.| First Lien Senior Secured Delayed Draw Term Loan|IT ServicesSOFR + 6.500|10.857%|3/19/2024| 3/19/2031 | — | 12,844,000 |
Debt Investments | Ascend Partner Services LLC |First Lien Senior Secured Term Loan|Professional ServicesSOFR + 4.500|8.857%|8/9/2024|8/11/2031 | — | 5,993,000 |
Health Care Technology | 145,686,000 | 128,697,000 |
Debt Investments |Thunder Buyer, Inc.|First Lien Senior Secured Revolving Loan|Life Sciences Tools & ServicesSOFR + 5.000|10/17/2024|10/17/2030 | (59,000) | (59,000) |
Debt Investments | Adelaide Borrower, LLC |First Lien Senior Secured Revolving Loan|Multi-UtilitiesSOFR + 6.250| 5/8/2024| 5/8/2030 | (25,000) | (25,000) |
Debt Investments |Penn TRGRP Holdings LLC| First Lien Senior Secured Delayed Draw Term Loan|Diversified Financial ServicesSOFR + 7.750|12.079%|10/20/2023| 9/27/2030 | — | 1,844,000 |
Debt Investments |Azurite Intermediate Holdings, Inc.| First Lien Senior Secured Term Loan|IT ServicesSOFR + 6.500|10.857%|3/19/2024| 3/19/2031 | — | 5,651,000 |
Debt Investments | Guardian Restoration Partners Buyer, LLC|First Lien Senior Secured Term Loan|Diversified Consumer ServicesSOFR + 4.750|9.079%|11/1/2024| 11/3/2031 | — | 4,708,000 |
Debt Investments |United Flow Technologies Intermediate HoldCo II, LLC| First Lien Senior Secured Revolving Loan|Multi-UtilitiesSOFR + 5.250|6/21/2024|6/23/2030 | — | (39,000) |
Debt Investments |Azurite Intermediate Holdings, Inc.| First Lien Senior Secured Revolving Loan|IT ServicesSOFR + 6.500|3/19/2024|3/19/2031 | (21,000) | (21,000) |
Debt Investments | Coding Solutions Acquisition, Inc. |First Lien Senior Secured Payment Delayed Draw Term Loan|Health Care TechnologySOFR + 5.000|8/7/2024|8/7/2031 | — | (71,000) |
Debt Investments |Sapphire Software Buyer, Inc.| First Lien Senior Secured Revolving Loan|IT ServicesSOFR + 5.000|9/30/2024|9/30/2031 | — | (37,000) |
Debt Investments | CB Buyer, Inc|First Lien Senior Secured Term Loan|SoftwareSOFR + 5.250|9.607%|7/1/2024|7/1/2031 | — | 21,325,000 |
Debt Investments | AMI Buyer, Inc. |First Lien Senior Secured Revolving Loan|Semiconductors & Semiconductor EquipmentSOFR + 5.250|9.693%|10/17/2024|10/17/2031 | 811,000 | 1,208,000 |
IT Services | 163,688,000 | 163,612,000 |
Software | 79,676,000 | 75,727,000 |
Debt Investments |Zone & Company Software Consulting, LLC|First Lien Senior Secured Revolving Loan| Diversified Financial Services SOFR + 6.000|9/13/2024|9/13/2030 | (79,000) | (95,000) |
Debt Investments | AMI Buyer, Inc. |First Lien Senior Secured Term Loan|Semiconductors & Semiconductor EquipmentSOFR + 5.250|9.693%|10/17/2024|10/17/2031 | 35,869,000 | 35,869,000 |
Debt Investments | Ascend Partner Services LLC |First Lien Senior Secured Revolving Loan|Professional ServicesSOFR + 4.500|8.838%|8/9/2024| 8/11/2031 | 645,000 | 1,227,000 |
United States | 922,418,000 | 666,141,000 |
Health Care Equipment & Supplies | 13,545,000 | 12,335,000 |
Debt Investments | Coding Solutions Acquisition, Inc. |First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 5.000|9.245%|8/7/2024|8/7/2031 | — | 30,796,000 |
Real Estate Management & Development | 13,675,000 | 13,709,000 |
Debt Investments | Alegeus Technologies Holdings Corp. |First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 6.750|11.304%| 11/22/2024| 11/5/2029 | — | 67,783,000 |
Debt Investments |Xactly Corporation| First Lien Senior Secured Term Loan|Professional ServicesSOFR + 6.250|10.864|7/12/2024|7/30/2027 | — | 25,076,000 |
Debt Investments |United Flow Technologies Intermediate HoldCo II, LLC| First Lien Senior Secured Delayed Draw Term Loan|Multi-UtilitiesSOFR + 5.250|9.886|6/21/2024|6/23/2031 | — | 1,314,000 |
Debt Investments | CB Buyer, Inc|First Lien Senior Secured Delayed Draw Term Loan|SoftwareSOFR + 5.250|7/1/2024|7/1/2031 | — | (15,000) |
Debt Investments | CB Buyer, Inc|First Lien Senior Secured Revolving Loan|SoftwareSOFR + 5.250|7/1/2024|7/1/2031 | — | (6,000) |
Diversified Financial Services | 98,171,000 | 97,181,000 |
Commercial Services & Supplies | 22,076,000 | 21,986,000 |
Debt Investments | Baxter Planning Systems, LLC|First Lien Senior Secured Revolving Loan|Air Freight & LogisticsSOFR + 5.750|5/20/2024|5/20/2031 | (15,000) | (15,000) |
Common Equity | 348,000 | 400,000 |
Debt Investments | Alert SRC Newco LLC |First Lien Senior Secured Delayed Draw Term Loan|Commercial Services & SuppliesSOFR + 5.000|12/11/2024|12/11/2030 | — | (109,000) |
Debt Investments | Icefall Parent, Inc.|First Lien Senior Secured Revolving Loan|Diversified Financial ServicesSOFR + 6.500|1/26/2024|1/25/2030 | — | (36,000) |
Debt Investments |Serrano Parent, LLC| First Lien Senior Secured Term Loan|IT ServicesSOFR + 6.500|10.920|10/18/2023|5/13/2030 | 27,731,000 | 27,731,000 |
Debt Investments |Penn TRGRP Holdings LLC|First Lien Senior Secured Term Loan|Diversified Financial ServicesSOFR + 7.750|12.079%|10/20/2023| 9/27/2030 | — | 24,847,000 |
Debt Investments |Thunder Buyer, Inc.| First Lien Senior Secured Term Loan|Life Sciences Tools & ServicesSOFR + 5.000|9.647|10/17/2024|10/17/2030 | — | 16,336,000 |
Debt Investments |Metropolis Capital Holdings, LLC|First Lien Senior Secured Term Loan|Real Estate Management & DevelopmentSOFR + 6.000|10.457%|5/16/2024| 5/16/2031 | — | 13,709,000 |
Debt Investments | 922,070,000 | 665,741,000 |
Air Freight & Logistics | 8,220,000 | 8,150,000 |
Debt Investments | Baxter Planning Systems, LLC|First Lien Senior Secured Delayed Draw Term Loan|Air Freight & LogisticsSOFR + 5.750|5/20/2024|5/20/2031 | (15,000) | (15,000) |
Semiconductors & Semiconductor Equipment | 36,680,000 | 37,077,000 |
Debt Investments | Guardian Restoration Partners Buyer, LLC|First Lien Senior Secured Delayed Draw Term Loan|Diversified Consumer ServicesSOFR + 4.750|10.010%|11/1/2024|11/3/2031 | — | 2,584,000 |
Debt Investments |Thunder Buyer, Inc.| First Lien Senior Secured Delayed Draw Term Loan|Life Sciences Tools & ServicesSOFR + 5.000|10/17/2024|10/17/2030 | (110,000) | (110,000) |
Debt Investments | FH DMI Buyer, Inc.| First Lien Senior Secured Revolving Loan|Health Care Equipment & SuppliesSOFR + 5.000|10/11/2024|10/11/2030 | — | (31,000) |
Debt Investments | CPEX Purchaser, LLC| First Lien Senior Secured Revolving Loan|SoftwareSOFR + 6.000|2/29/2024| 3/1/2030 | — | (123,000) |
Debt Investments | FH DMI Buyer, Inc.|First Lien Senior Secured Term Loan|Health Care Equipment & SuppliesSOFR + 5.000|9.329%|10/11/2024| 10/11/2030 | — | 12,068,000 |
Debt Investments | Alert SRC Newco LLC |First Lien Senior Secured Term Loan|Commercial Services & SuppliesSOFR + 5.000|9.452%|12/11/2024| 12/11/2030 | — | 22,128,000 |
Debt Investments | Homecare Software Solutions, LLC|First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 5.550|9.925%(incl. 2.925%PIK)|9/26/2024| 6/16/2031 | — | 27,628,000 |
Professional Services | 34,520,000 | 32,184,000 |
First Lien Senior Secured Debt | 901,723,000 | 665,741,000 |
Debt Investments |LogRhythm, Inc.|First Lien Senior Secured Revolving Loan|IT ServicesSOFR + 7.500|7/2/2024| 7/2/2029 | (164,000) | (151,000) |
Debt Investments | CData Software, Inc.|First Lien Senior Secured Delayed Draw Term Loan|IT ServicesSOFR + 5.750|7/18/2024|7/18/2030 | (54,000) | (54,000) |
Debt Investments |Penn TRGRP Holdings LLC| First Lien Senior Secured Revolving Loan|Diversified Financial ServicesSOFR + 6.750|10/20/2023|9/27/2030 | (58,000) | (58,000) |
Debt Investments |Runway Bidco, LLC| First Lien Senior Secured Revolving Loan|SoftwareSOFR + 5.000|12/17/2024|12/17/2031 | (25,000) | (25,000) |
Debt Investments |LogRhythm, Inc.|First Lien Senior Secured Term Loan|IT ServicesSOFR + 7.500|11.857%|7/2/2024| 7/2/2029 | — | 53,308,000 |
Debt Investments | Guardian Restoration Partners Buyer, LLC |First Lien Senior Secured Revolving Loan|Diversified Consumer ServicesSOFR + 4.750|11/1/2024|11/3/2031 | — | (15,000) |
Debt Investments |Runway Bidco, LLC| First Lien Senior Secured Term Loan|SoftwareSOFR + 5.000|9.329%|12/17/2024| 12/17/2031 | — | 20,056,000 |
Debt Investments | CPEX Purchaser, LLC|First Lien Senior Secured Delayed Draw Term Loan|SoftwareSOFR + 6.000|10.345%|2/29/2024| 3/1/2030 | — | 1,931,000 |
Debt Investments | CData Software, Inc.|First Lien Senior Secured Term Loan|IT ServicesSOFR + 6.250|10.575%|7/18/2024|7/18/2030 | — | 32,709,000 |
Debt Investments | Adelaide Borrower, LLC |First Lien Senior Secured Delayed Draw Term Loan|Multi-UtilitiesSOFR + 6.250| 5/8/2024| 5/8/2030 | (40,000) | (40,000) |
Common Equity|Excalibur Parent Holdings, L.P., LLC|Common Stock| IT Services|7/2/2024 | 0 | 0 |
Debt Investments | Cpex Purchaser, LLC |First Lien Senior Secured Delayed Draw Term Loan|SoftwareSOFR + 5.500|3/26/2025|3/1/2030 | (32,000) | — |
Debt Investments | Alegeus Technologies Holdings Corp. |First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 6.750|11.053%| 11/22/2024| 11/5/2029 | 67,528,000 | — |
Debt Investments |Univista Intermediate Holdco, LLC| First Lien First Out Term Loan|InsuranceSOFR + 3.850|8.174%|1/10/2025|1/10/2030 | 18,714,000 | — |
Debt Investments |Unlimited Technology Holdings, LLC| First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 4.750|3/12/2025|3/12/2032 | (11,000) | — |
Debt Investments |Metropolis Capital Holdings, LLC|First Lien Senior Secured Term Loan|Real Estate Management & DevelopmentSOFR + 6.000|10.452|5/16/2024| 5/16/2031 | 13,675,000 | — |
First Lien Last Out Unitranche Debt | 20,347,000 | — |
Debt Investments | Coding Solutions Acquisition Inc |First Lien Secured Term Loan|Health Care TechnologySOFR + 5.500|9.235%|8/7/2024|8/7/2031 | 30,719,000 | — |
Debt Investments | Cpex Purchaser, LLC |First Lien Senior Secured Term Loan|SoftwareSOFR + 6.000|10.120%|2/29/2024|3/1/2030 | 32,959,000 | — |
Debt Investments | FH DMI Buyer Inc |First Lien Senior Secured Delayed Draw Term Loan |Health Care Equipment & SuppliesSOFR + 5.000|9.217%|10/11/2024|10/11/2030 | 1,160,000 | — |
Debt Investments |Zone & Company Software Consulting, LLC| First Lien Senior Secured Term Loan| Diversified Financial ServicesSOFR + 6.500|10.799|9/13/2024|9/13/2030 | 46,010,000 | — |
Debt Investments | CB Buyer, Inc|First Lien Senior Secured Revolving Loan|SoftwareSOFR + 5.000|7/1/2024|7/1/2031 | (6,000) | — |
Debt Investments |Unlimited Technology Holdings, LLC| First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 4.750|9.049%|3/12/2025|3/12/2032 | 17,123,000 | — |
Debt Investments | CI (MG) GROUP, LLC |First Lien Senior Secured Delayed Draw Term Loan|Diversified Consumer ServicesSOFR + 5.500|3/27/2025|3/27/2030 | (205,000) | — |
Debt Investments | Guardian Restoration Partners Buyer |First Lien Senior Secured Delayed Draw Term Loan|Diversified Consumer ServicesSOFR + 4.750|9.050%|11/1/2024|11/3/2031 | 3,197,000 | — |
Debt Investments | Baxter Planning Systems, LLC|First Lien Senior Secured Term Loan|Air Freight & LogisticsSOFR + 6.250(incl.3.375% PIK)|10.677%|5/20/2024|5/20/2031 | 8,250,000 | — |
Debt Investments | Cpex Purchaser, LLC |First Lien Senior Secured Revolving Loan|SoftwareSOFR + 6.000|2/29/2024|3/1/2030 | (34,000) | — |
Pharmaceuticals | 43,538,000 | — |
Debt Investments |United Flow Technologies Intermediate HoldCo II, LLC| First Lien Senior Secured Revolving Loan|Multi-UtilitiesSOFR + 5.250|6/21/2024|6/21/2030 | (39,000) | — |
Debt Investments | CB Buyer, Inc|First Lien Senior Secured Term Loan|SoftwareSOFR + 5.000|9.299%|7/1/2024|7/1/2031 | 22,582,000 | — |
Debt Investments | CData Software, Inc.|First Lien Senior Secured Delayed Draw Term Loan|IT ServicesSOFR + 6.250|10.549%|7/18/2024|7/18/2030 | 1,620,000 | — |
Debt Investments | Coding Solutions Acquisition Inc |First Lien Senior Secured Delayed Draw Term Loan|Health Care TechnologySOFR + 5.500|8/7/2024|8/7/2031 | (71,000) | — |
Debt Investments | Grand River Aseptic Manufacturing, Inc. |First Lien Senior Secured Term Loan|PharmaceuticalsSOFR + 5.000|9.295%|3/10/2025|3/10/2031 | 43,674,000 | — |
Debt Investments |RH Buyer, Inc.| First Lien Senior Secured Term Loan|Aerospace & DefenseSOFR + 6.500|10.903|1/17/2025|1/17/2031 | 60,509,000 | — |
Debt Investments | Guardian Restoration Partners Buyer |First Lien Senior Secured Term Loan|Diversified Consumer ServicesSOFR + 4.750|9.079%|11/1/2024|11/3/2031 | 4,708,000 | — |
Debt Investments | Ascend Partner Services LLC |First Lien Senior Secured Delayed Draw Term Loan|Professional ServicesSOFR + 4.500|8.752|8/9/2024|8/11/2031 | 2,829,000 | — |
Debt Investments | FH DMI Buyer Inc |First Lien Senior Secured Revolving Loan|Health Care Equipment & SuppliesSOFR + 5.000|10/11/2024|10/11/2030 | (31,000) | — |
Aerospace & Defense | 60,385,000 | — |
Debt Investments |Univista Intermediate Holdco, LLC| First Lien Last Out Term Loan|InsuranceSOFR + 6.531|10.855%|1/10/2025|1/10/2030 | 20,347,000 | — |
Debt Investments | Ascend Partner Services LLC |First Lien Senior Secured Term Loan|Professional ServicesSOFR + 4.500|8.752%|8/9/2024|8/11/2031 | 5,978,000 | — |
Debt Investments |Azurite Intermediate Holdings, Inc.| First Lien Senior Secured Term Loan|IT ServicesSOFR + 6.500|10.825%|3/19/2024| 3/19/2031 | 5,651,000 | — |
Debt Investments |Runway Bidco, LLC| First Lien Senior Secured Term Loan|SoftwareSOFR + 5.000|9.299|12/17/2024| 12/17/2031 | 20,056,000 | — |
Debt Investments |United Flow Technologies Intermediate HoldCo II, LLC| First Lien Senior Secured Delayed Draw Term Loan|Multi-UtilitiesSOFR + 5.250|9.551|6/21/2024|6/23/2031 | 11,424,000 | — |
Debt Investments | Goldeneye Parent, LLC |First Lien Senior Secured Term Loan|Life Sciences Tools & ServicesSOFR + 5.000|9.299%|3/31/2025|3/31/2032 | 12,713,000 | — |
Debt Investments |Zone & Company Software Consulting, LLC| First Lien Senior Secured Payment Delayed Draw Term Loan| Diversified Financial ServicesSOFR + 6.500|10.799|9/13/2024|9/13/2030 | 821,000 | — |
Debt Investments |Azurite Intermediate Holdings, Inc.| First Lien Senior Secured Delayed Draw Term Loan|IT ServicesSOFR + 6.500|10.825%|3/19/2024| 3/19/2031 | 12,844,000 | — |
Debt Investments | CI (MG) GROUP, LLC |First Lien Senior Secured Revolving Loan|Diversified Consumer ServicesSOFR + 5.500| 3/27/2025|3/27/2030 | (46,000) | — |
Debt Investments |Sapphire Software Buyer, Inc.| First Lien Senior Secured Revolving Loan|IT ServicesSOFR + 5.500|9/30/2024|9/30/2031 | (37,000) | — |
Debt Investments | Grand River Aseptic Manufacturing, Inc. |First Lien Senior Secured Revolving Loan|PharmaceuticalsSOFR + 5.000|3/10/2025|3/10/2031 | (136,000) | — |
Debt Investments |Penn TRGRP Holdings LLC|First Lien Senior Secured Term Loan|Diversified Financial ServicesSOFR + 7.250|11.549|10/20/2023| 9/27/2030 | 24,847,000 | — |
Debt Investments | Goldeneye Parent, LLC |First Lien Senior Secured Revolving Loan|Life Sciences Tools & ServicesSOFR + 5.000|3/31/2025|3/31/2032 | (9,000) | — |
Debt Investments | Guardian Restoration Partners Buyer |First Lien Senior Secured Revolving Loan|Diversified Consumer ServicesSOFR + 4.750|9.053%|11/1/2024|11/3/2031 | 88,000 | — |
Debt Investments |Thunder Buyer, Inc.| First Lien Senior Secured Term Loan|Life Sciences Tools & ServicesSOFR + 5.000|9.299|10/17/2024|10/17/2030 | 16,284,000 | — |
Debt Investments |Sapphire Software Buyer, Inc.| First Lien Senior Secured Term Loan|IT ServicesSOFR + 5.000(incl. 3.000%PIK)|9.717%|9/30/2024| 9/30/2031 | 30,303,000 | — |
Debt Investments | Icefall Parent, Inc.|First Lien Senior Secured Term Loan|Diversified Financial ServicesSOFR + 6.500|10.791|1/26/2024| 1/25/2030 | 24,563,000 | — |
Debt Investments | Icefall Parent, Inc.|First Lien Senior Secured Revolving Loan|Diversified Financial ServicesSOFR + 6.500|1/26/2023|1/25/2030 | (36,000) | — |
Debt Investments | Cpex Purchaser, LLC |First Lien Senior Secured Term Loan|SoftwareSOFR + 5.500|9.749%|3/26/2025|3/1/2030 | 1,634,000 | — |
Debt Investments | CI (MG) GROUP, LLC |First Lien Senior Secured Term Loan|Diversified Consumer ServicesSOFR + 5.500|9.716%|3/27/2025|3/27/2030 | 28,372,000 | — |
Debt Investments | Four Winds Interactive LLC |First Lien Senior Secured Delayed Draw Term Loan|Interactive Media & ServicesSOFR + 6.500|2/20/2025|2/20/2030 | (145,000) | — |
Debt Investments |Penn TRGRP Holdings LLC| First Lien Senior Secured Delayed Draw Term Loan|Diversified Financial ServicesSOFR + 7.250|11.549|10/20/2023| 9/27/2030 | 2,251,000 | — |
Debt Investments |RH Buyer, Inc.| First Lien Senior Secured Revolving Loan|Aerospace & DefenseSOFR + 6.500|1/17/2025|1/17/2031 | (124,000) | — |
Debt Investments | Alert SRC Newco LLC |First Lien Senior Secured Delayed Draw Term Loan|Commercial Services & SuppliesSOFR + 5.000|9.320|12/11/2024|12/11/2030 | 36,000 | — |
Debt Investments |LogRhythm, Inc.|First Lien Senior Secured Term Loan|IT ServicesSOFR + 7.500|11.813|7/2/2024| 7/2/2029 | 53,171,000 | — |
Debt Investments | CData Software, Inc.|First Lien Senior Secured Term Loan|IT ServicesSOFR + 6.250|10.549%|7/18/2024|7/18/2030 | 32,709,000 | — |
Debt Investments | Four Winds Interactive LLC |First Lien Senior Secured Revolving Loan|Interactive Media & ServicesSOFR + 6.500|2/20/2025|2/20/2030 | (97,000) | — |
Debt Investments |Xactly Corporation| First Lien Senior Secured Term Loan|Professional ServicesSOFR + 6.250|10.663|7/12/2024|7/30/2027 | 25,076,000 | — |
Interactive Media & Services | 36,483,000 | — |
Debt Investments |United Flow Technologies Intermediate HoldCo II, LLC| First Lien Senior Secured Term Loan|Multi-UtilitiesSOFR + 5.250|9.549|6/21/2024|6/23/2031 | 27,259,000 | — |
Debt Investments | Homecare Software Solutions LLC |First Lien Senior Secured Term Loan|Health Care TechnologySOFR + 5.550% (Incl. 2.925% PIK)|9.872%|9/26/2024|6/16/2031 | 27,837,000 | — |
Debt Investments | Adelaide Borrower, LLC |First Lien Senior Secured Term Loan|Multi-UtilitiesSOFR + 6.250|10.549%| 5/8/2024| 5/8/2030 | 23,502,000 | — |
Insurance | 39,061,000 | — |
Debt Investments | FH DMI Buyer Inc |First Lien Senior Secured Term Loan|Health Care Equipment & SuppliesSOFR + 5.000|9.217%|10/11/2024|10/11/2030 | 12,068,000 | — |
Debt Investments | Coding Solutions Acquisition Inc |First Lien Senior Secured Revolving Loan|Health Care TechnologySOFR + 5.500|9.318%|8/7/2024|8/7/2031 | 2,561,000 | — |
Debt Investments | Alert SRC Newco LLC |First Lien Senior Secured Term Loan|Commercial Services & SuppliesSOFR + 5.000|9.289%|12/11/2024| 12/11/2030 | 22,073,000 | — |
Debt Investments | CB Buyer, Inc|First Lien Senior Secured Delayed Draw Term Loan|SoftwareSOFR + 5.000|7/1/2024|7/1/2031 | (12,000) | — |
Debt Investments | Cpex Purchaser, LLC |First Lien Senior Secured Delayed Draw Term Loan|SoftwareSOFR + 6.000|10.120%|2/29/2024|3/1/2030 | 2,604,000 | — |
Debt Investments | Four Winds Interactive LLC |First Lien Senior Secured Term Loan|Interactive Media & ServicesSOFR + 6.500|10.799%|2/20/2025|2/20/2030 | 36,725,000 | — |
Cash and cash equivalents | 62,099,000 | 12,923,000 |
Interest and other income receivable from non-controlled/non-affiliated investments | 6,837,000 | 3,509,000 |
Deferred financing costs | 5,754,000 | 4,891,000 |
Prepaid assets | 436,000 | 468,000 |
Subscriptions receivable | 0 | 55,000 |
Total Assets | 997,544,000 | 687,987,000 |
Liabilities | ||
Debt | 519,630,000 | 328,390,000 |
Interest payable | 4,431,000 | 3,667,000 |
Management fees payable | 1,489,000 | 1,107,000 |
Advisory Agreement - Advisor | 1,500,000 | 1,100,000 |
Other liabilities and accrued expenses | 1,188,000 | 846,000 |
Investment income incentive fees payable | 1,003,000 | 733,000 |
Advisory Agreement - Advisor | 0 | 0 |
Accrued administrative services expense payable | 646,000 | 516,000 |
Payable for securities purchased | 103,000 | 0 |
Capital gains incentive fees payable | 25,000 | 47,000 |
Advisor | 25,000 | 47,000 |
Advisory Agreement - Advisor | 22,000 | — |
Expense reimbursement payable | 0 | 558,000 |
Total Liabilities | 528,515,000 | 335,864,000 |
Net Assets | ||
Common stock, $0.001 par value (1,000,000,000 shares authorized, 18,557,565 and 13,909,942 shares issued and outstanding, respectively) | 19,000 | 14,000 |
Additional paid-in capital | 464,481,000 | 347,648,000 |
Distributable earnings (loss) | 4,529,000 | 4,461,000 |
Total Net Assets | 469,029,000 | 352,123,000 |
Total Liabilities and Net Assets | 997,544,000 | 687,987,000 |
Net asset value per share | 25.27 | 25.31 |