| Summary of Payments Due by Period |
The following table provides the Company’s contractual obligations as of December 31, 2023 (in thousands):
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Payments Due by Period |
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Contractual Obligations (1) |
Total |
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Less than 1 Year |
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1-3 years |
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3-5 years |
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More than 5 Years |
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Borrowings (2) |
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Credit Facility |
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$ |
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272,000 |
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$ |
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— |
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$ |
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272,000 |
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$ |
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— |
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$ |
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— |
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2026 Notes |
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95,000 |
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— |
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95,000 |
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— |
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— |
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2027 Notes |
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152,250 |
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— |
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— |
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152,250 |
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— |
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Total Borrowings |
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519,250 |
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— |
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367,000 |
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152,250 |
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— |
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Deferred Incentive Fees |
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9,165 |
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2,567 |
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3,919 |
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2,548 |
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131 |
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Total |
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$ |
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528,415 |
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$ |
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2,567 |
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$ |
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370,919 |
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$ |
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154,798 |
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$ |
|
131 |
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(1)Excludes interest payable on borrowings, accrued expenses, and commitments to extend credit to the Company’s portfolio companies. (2)Amounts represent future principal repayments and not the carrying value of each liability (refer to “Note 7 – Borrowings”). The following table provides the Company’s contractual obligations as of December 31, 2022 (in thousands):
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Payments Due by Period |
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Contractual Obligations (1) |
Total |
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Less than 1 Year |
|
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1-3 years |
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3-5 years |
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More than 5 Years |
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Borrowings (2) |
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Credit Facility |
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$ |
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337,000 |
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$ |
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— |
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$ |
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— |
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$ |
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337,000 |
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$ |
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— |
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2026 Notes |
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70,000 |
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— |
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— |
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70,000 |
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— |
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2027 Notes |
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152,250 |
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— |
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— |
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152,250 |
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— |
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Total Borrowings |
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559,250 |
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— |
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— |
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559,250 |
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— |
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Deferred Incentive Fees |
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5,009 |
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|
674 |
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|
1,760 |
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|
|
|
1,023 |
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|
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|
1,552 |
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Total |
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$ |
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564,259 |
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$ |
|
674 |
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$ |
|
1,760 |
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$ |
|
560,273 |
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$ |
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1,552 |
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(1)Excludes interest payable on borrowings, accrued expenses, and commitments to extend credit to the Company’s portfolio companies. (2)Amounts represent future principal repayments and not the carrying value of each liability (refer to “Note 7 – Borrowings”).
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| Schedule of Unfunded Commitments to Extend Financing |
The Company's unfunded loan commitments to provide debt financing to its portfolio companies amounted to $201.5 million and $315.7 million as of December 31, 2023 and December 31, 2022, respectively, shown in the table below (in thousands):
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Portfolio Company |
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Investment Type |
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December 31, 2023 |
|
December 31, 2022 |
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3PL Central LLC (dba Extensiv) |
|
Senior Secured Term Loan |
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$ |
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11,500 |
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$ |
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15,000 |
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Betterment Holdings, Inc. |
|
Senior Secured Term Loan |
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5,000 |
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— |
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Blueshift Labs, Inc. |
|
Senior Secured Term Loan |
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14,500 |
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— |
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Bombora, Inc. |
|
Senior Secured Term Loan |
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2,000 |
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— |
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Brivo, Inc. |
|
Senior Secured Term Loan |
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6,000 |
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16,000 |
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CloudPay, Inc. |
|
Senior Secured Term Loan |
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— |
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15,000 |
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Dtex Systems, Inc. |
|
Senior Secured Term Loan |
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— |
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15,000 |
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EBR Systems, Inc. |
|
Senior Secured Term Loan |
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10,000 |
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30,000 |
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Intellisite Holdings, Inc. (dba Epic IO Technologies, Inc.) |
|
Senior Secured Term Loan |
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— |
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6,000 |
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Interactions Corporation |
|
Senior Secured Term Loan |
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10,000 |
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10,000 |
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Kin Insurance, Inc. |
|
Senior Secured Term Loan |
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— |
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25,000 |
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Linxup, LLC |
|
Senior Secured Term Loan |
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7,500 |
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— |
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Madison Reed, Inc. |
|
Senior Secured Term Loan |
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1,200 |
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|
2,400 |
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Moximed, Inc. |
|
Senior Secured Term Loan |
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|
15,000 |
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|
15,000 |
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Nalu Medical, Inc. |
|
Senior Secured Term Loan |
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|
15,000 |
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25,000 |
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Revelle Aesthetics, Inc. |
|
Senior Secured Term Loan |
|
|
|
— |
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12,500 |
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Route 92 Medical, Inc. |
|
Senior Secured Term Loan |
|
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20,000 |
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|
42,000 |
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SetPoint Medical Corporation |
|
Senior Secured Term Loan |
|
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|
40,000 |
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|
40,000 |
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Skillshare, Inc. |
|
Senior Secured Term Loan |
|
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|
10,000 |
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|
15,000 |
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Snagajob.com, Inc. |
|
Senior Secured Term Loan |
|
|
|
6,785 |
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|
6,785 |
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Snagajob.com, Inc. |
|
Convertible Note |
|
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|
2,035 |
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|
— |
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Synack, Inc. |
|
Senior Secured Term Loan |
|
|
|
25,000 |
|
|
|
|
25,000 |
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Total unused commitments to extend financing |
|
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|
$ |
|
201,520 |
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|
$ |
|
315,685 |
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