| | |
Per Note
|
| |
Total
|
| ||||||
Public offering price(1)
|
| | | | % | | | | | $ | | | |
Sales load (underwriting discounts and commissions) paid by us
|
| | | | % | | | | | $ | | | |
Proceeds to us, before expenses(2)
|
| | | | % | | | | | $ | | | |
| Goldman Sachs & Co. LLC | | |
Keefe, Bruyette & Woods
|
|
| | | |
A Stifel Company
|
|
| | | | | S-1 | | | |
| | | | | S-2 | | | |
| | | | | S-9 | | | |
| | | | | S-13 | | | |
| | | | | S-18 | | | |
| | | | | S-20 | | | |
| CAPITALIZATION | | | | | S-21 | | |
| | | | | S-22 | | | |
| | | | | S-23 | | | |
| | | | | S-28 | | | |
| UNDERWRITING | | | | | S-43 | | |
| | | | | S-51 | | | |
| | | | | S-51 | | |
| | | | | 1 | | | |
| | | | | 8 | | | |
| | | | | 10 | | | |
| | | | | 11 | | | |
| | | | | 12 | | | |
| | | | | 13 | | | |
| | | | | 15 | | | |
| | | | | 16 | | | |
| | | | | 19 | | | |
| BUSINESS | | | | | 20 | | |
| | | | | 21 | | | |
| | | | | 22 | | | |
| MANAGEMENT | | | | | 36 | | |
| | | | | 37 | | | |
| | | | | 38 | | | |
| | | | | 39 | | | |
| | | | | 40 | | | |
| | | | | 41 | | | |
| | | | | 46 | | | |
| | | | | 47 | | | |
| | | | | 57 | | | |
| | | | | 66 | | | |
| | | | | 67 | | | |
| | | | | 69 | | | |
| | | | | 71 | | |
| | | | | 87 | | | |
| REGULATION | | | | | 88 | | |
| | | | | 89 | | | |
| | | | | 92 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 95 | | |
(dollars in thousands, except per share data)
|
| |
June 30, 2021
(Unaudited) |
| |
As Adjusted for this
Offering(1) |
| |||
Assets | | | | | | | | | | |
Investments at fair value
|
| | | $ | 597,696 | | | | | |
Cash and cash equivalents
|
| | | | 19,124 | | | | | |
Restricted cash
|
| | | | 15,341 | | | | | |
Interest receivable
|
| | | | 4,065 | | | | | |
Prepaid expenses
|
| | | | 1,298 | | | | | |
Other assets
|
| | | | 3,923 | | | | | |
Total Assets
|
| | | $ | 641,447 | | | | | |
Liabilities | | | | | | | | | | |
Credit Agreement, net(1)
|
| | | $ | 68,947 | | | | | |
2025 Notes, net
|
| | | | 120,832 | | | | | |
Convertible Notes, net
|
| | | | 47,214 | | | | | |
Notes offered hereby
|
| | | | — | | | | ||
Distribution payable
|
| | | | 7,682 | | | | | |
Security deposits
|
| | | | 8,812 | | | | | |
Accounts payable, accrued liabilities and other liabilities
|
| | | | 8,240 | | | | | |
Total Liabilities
|
| | | $ | 261,727 | | | | | |
Net Assets | | | | | | | | | | |
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 26,491,274 shares issued and outstanding
|
| | | | 26 | | | | | |
Paid-in capital in excess of par
|
| | | | 369,379 | | | | | |
Distributable earnings
|
| | | | 10,315 | | | | | |
Total Net Assets
|
| | | | 379,720 | | | | | |
Total Liabilities and Net Assets
|
| | | $ | 641,447 | | | | | |
Net Asset Value Per Share
|
| | | $ | 14.33 | | | | | |
Name
|
| |
Principal Amount of
Notes to be Purchased |
| |||
Goldman Sachs & Co. LLC
|
| | | | | | |
Keefe, Bruyette & Woods, Inc.
|
| | | | | | |
Total
|
| | | | | |
| | |
Per Note
|
| |
Amount
|
| ||||||
Public offering price
|
| | | | % | | | | | $ | | | |
Underwriting discount
|
| | | | % | | | | | $ | | | |
Proceeds to us, before expenses
|
| | | | % | | | | | $ | | | |
| | | | | 1 | | | |
| | | | | 8 | | | |
| | | | | 10 | | | |
| | | | | 11 | | | |
| | | | | 12 | | | |
| | | | | 13 | | | |
| | | | | 15 | | | |
| | | | | 16 | | | |
| | | | | 19 | | | |
| | | | | 20 | | | |
| | | | | 21 | | | |
| | | | | 22 | | | |
| | | | | 36 | | | |
| | | | | 37 | | | |
| | | | | 38 | | | |
| | | | | 39 | | | |
| | | | | 40 | | | |
| | | | | 41 | | | |
| | | | | 46 | | | |
| | | | | 47 | | | |
| | | | | 57 | | | |
| | | | | 66 | | | |
| | | | | 67 | | | |
| | | | | 69 | | | |
| | | | | 71 | | | |
| | | | | 87 | | | |
| | | | | 88 | | | |
| | | | | 89 | | | |
| | | | | 92 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 94 | | | |
| | | | | 95 | | |
| Stockholder transaction expenses: | | | | | | | |
|
Sales load (as a percentage of offering price)
|
| | | | —(1) | | |
|
Offering expenses (as a percentage of offering price)
|
| | | | —(2) | | |
|
Distribution reinvestment plan expenses
|
| | | $ | 15.00(3) | | |
|
Total stockholder transaction expenses (as a percentage of offering price)
|
| | | | — | | |
| Annual expenses (as a percentage of net assets attributable to common stock): | | | | | | | |
|
Operating expenses
|
| | | | 5.32%(4) | | |
|
Interest payments on borrowed funds
|
| | | | 6.22%(5) | | |
|
Total annual expenses
|
| | | | 11.54%(6) | | |
| | |
1 year
|
| |
3 years
|
| |
5 years
|
| |
10 years
|
| ||||||||||||
You would pay the following expenses on a $1,000 investment, assuming a
5% annual return from realized capital gains |
| | | $ | 112 | | | | | $ | 313 | | | | | $ | 490 | | | | | $ | 839 | | |
Class and Period
|
| |
Net Asset
Value(1) |
| |
Price Range
|
| |
High
Sales Price Premium (Discount) to Net Asset Value(2) |
| |
Low
Sales Price Premium (Discount) to Net Asset Value(2) |
| |
Cash
Dividend Per Share(3) |
| |||||||||||||||||||||
|
High
|
| |
Low
|
| ||||||||||||||||||||||||||||||||
Year ending December 31, 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Third Quarter (through August 9, 2021)
|
| | | | * | | | | | $ | 15.25 | | | | | $ | 14.14 | | | | | | * | | | | | | * | | | | | | * | | |
Second Quarter
|
| | | $ | 14.33 | | | | | $ | 15.00 | | | | | $ | 14.10 | | | | | | 4.7% | | | | | | (1.6)% | | | | | $ | 0.29 | | |
First Quarter(4)
|
| | | $ | 13.69 | | | | | $ | 15.65 | | | | | $ | 13.75 | | | | | | 14.3% | | | | | | 0.4% | | | | | $ | 0.28 | | |
Date Declared
|
| |
Record Date
|
| |
Payment Date
|
| |
Distribution
per Share |
| |||
May 14, 2020
|
| |
May 29, 2020
|
| |
June 5, 2020
|
| | | $ | 0.22 | | |
August 10, 2020
|
| |
August 21, 2020
|
| |
September 4, 2020
|
| | | $ | 0.27 | | |
November 9, 2020
|
| |
November 20, 2020
|
| |
December 4, 2020
|
| | | $ | 0.27 | | |
December 22, 2020
|
| |
December 30, 2020
|
| |
January 15, 2021
|
| | | $ | 0.27 | | |
March 23, 2021
|
| |
March 31, 2021
|
| |
April 16, 2021
|
| | | $ | 0.28 | | |
June 15, 2021
|
| |
June 30, 2021
|
| |
July 15, 2021
|
| | | $ | 0.29 | | |
Total
|
| | | | | | | | | $ | 1.60 | | |
(Amounts presented in thousands, except number of shares or units.)
|
| |
Investment Date(4)
|
| |
Maturity Date
|
| |
Interest Rate(5)
|
| |
Principal
Amount(6) |
| |
Number
of Shares or Units |
| |
Percentage
of Class Held on a Fully Diluted Basis |
| |
Cost
|
| |
Fair
Value(7) |
| |||||||||||||||||||||
Portfolio Company(1)
|
| |
Industry(2)
|
| |
Type of
Investment(3) |
| |||||||||||||||||||||||||||||||||||||||
Atieva, Inc.(10)
125 Consitution Dr. Menlo Park, CA 94025 |
| |
Manufacturing
|
| | | | | | | | | | |||||||||||||||||||||||||||||||||
| | | | Equity | | |
February 24, 2021
|
| | n/a | | |
Preferred Series D(15)
|
| | | | n/a | | | | | | 585,022 | | | | | | n/a | | | | | $ | 7,600 | | | | | $ | 32,419 | | | ||
| | | | Equity | | | April 2, 2021 | | | n/a | | |
Preferred Series E(15)
|
| | | | n/a | | | | | | 121,473 | | | | | | n/a | | | | | | 960 | | | | | | 6,731 | | | ||
Total Atieva, Inc. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
8,560
|
| | | |
|
39,150
|
| |
Augmedix, Inc.
1161 Mission St, Suite 210 San Francisco, CA 94103 |
| |
Professional, Scientific, and Technical Services
|
| | | | | | | | |||||||||||||||||||||||||||||||||||
| | | | Warrant | | | January 16, 2020 | | |
September 3, 2029
|
| |
Fixed interest rate 12.0%; EOT 6.5%
|
| | | | n/a | | | | | | 580,383 | | | | | | n/a | | | | |
|
449
|
| | | |
|
1,281
|
| | ||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Axiom Space, Inc.
1290 Hercules Ave, Suite 120 Houston, TX 77058 |
| |
Space Research and Technology
|
| | | | | | | | |||||||||||||||||||||||||||||||||||
| | | | Secured Loan | | | May 28, 2021 | | | June 1, 2026 | | |
Variable interest rate PRIME + 6.0% or Floor rate 9.25%; EOT 2.5%
|
| | | | 30,000 | | | | | | n/a | | | | | | n/a | | | | | | 29,670 | | | | | | 29,670 | | | ||
| | | | Warrant | | | May 28, 2021 | | | May 28, 2031 | | |
Common Stock; Strike
Price $169.24 |
| | | | n/a | | | | | | 1,773 | | | | | | n/a | | | | | | 121 | | | | | | 108 | | | ||
| | | | | | Warrant | | | May 28, 2021 | | | May 28, 2031 | | |
Common Stock; Strike
Price $340.11 |
| | | | n/a | | | | | | 882 | | | | | | n/a | | | | | | 39 | | | | | | 33 | | |
Total Axiom Space, Inc.
|
| | | | | | | | | | | | | | | | | |
|
30,000
|
| | | | | | | | | | | | | | | |
|
29,830
|
| | | |
|
29,811
|
| |
BackBlaze, Inc.
500 Ben Franklin Ct. San Mateo, CA 94001 |
| |
Professional, Scientific, and Technical Services
|
| | | | | | | | |||||||||||||||||||||||||||||||||||
| | | |
Equipment Financing
|
| | January 16, 2020 | | | January 1, 2023 | | |
Fixed interest rate 7.2%;
EOT 11.5% |
| | | | 692 | | | | | | n/a | | | | | | n/a | | | | | | 853 | | | | | | 851 | | | ||
| | | |
Equipment Financing
|
| | January 16, 2020 | | | April 1, 2023 | | |
Fixed interest rate 7.4%;
EOT 11.5% |
| | | | 93 | | | | | | n/a | | | | | | n/a | | | | | | 110 | | | | | | 110 | | | ||
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | | June 1, 2023 | | |
Fixed interest rate 7.4%;
EOT 11.5% |
| | | | 731 | | | | | | n/a | | | | | | n/a | | | | | | 851 | | | | | | 851 | | |
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | | August 1, 2023 | | |
Fixed interest rate 7.5%;
EOT 11.5% |
| | | | 148 | | | | | | n/a | | | | | | n/a | | | | | | 169 | | | | | | 169 | | |
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | |
September 1, 2023
|
| |
Fixed interest rate 7.7%;
EOT 11.5% |
| | | | 153 | | | | | | n/a | | | | | | n/a | | | | | | 174 | | | | | | 173 | | |
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | | October 1, 2023 | | |
Fixed interest rate 7.5%;
EOT 11.5% |
| | | | 155 | | | | | | n/a | | | | | | n/a | | | | | | 174 | | | | | | 174 | | |
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | |
November 1, 2023
|
| |
Fixed interest rate 7.2%;
EOT 11.5% |
| | | | 521 | | | | | | n/a | | | | | | n/a | | | | | | 585 | | | | | | 583 | | |
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | |
December 1, 2023
|
| |
Fixed interest rate 7.5%;
EOT 11.5% |
| | | | 694 | | | | | | n/a | | | | | | n/a | | | | | | 772 | | | | | | 770 | | |
| | | | | |
Equipment Financing
|
| | January 16, 2020 | | | January 1, 2024 | | |
Fixed interest rate 7.4%;
EOT 11.5% |
| | | | 608 | | | | | | n/a | | | | | | n/a | | | | | | 672 | | | | | | 670 | | |
| | | | | |
Equipment Financing
|
| | January 20, 2020 | | | February 1, 2024 | | |
Fixed interest rate 7.4%;
EOT 11.5% |
| | | | 624 | | | | | | n/a | | | | | | n/a | | | | | | 685 | | | | | | 683 | | |
| | | | | |
Equipment Financing
|
| | February 1, 2020 | | | March 1, 2024 | | |
Fixed interest rate 7.2%;
EOT 11.5% |
| | | | 545 | | | | | | n/a | | | | | | n/a | | | | | | 597 | | | | | | 595 | | |
| | | | | |
Equipment Financing
|
| | March 26, 2020 | | | April 1, 2024 | | |
Fixed interest rate 7.4%;
EOT 11.5% |
| | | | 166 | | | | | | n/a | | | | | | n/a | | | | | | 180 | | | | | | 182 | | |
| | | | | |
Equipment Financing
|
| | April 17, 2020 | | | May 1, 2024 | | |
Fixed interest rate 7.3%;
EOT 11.5% |
| | | | 1,078 | | | | | | n/a | | | | | | n/a | | | | | | 1,165 | | | | | | 1,167 | | |
| | | | | |
Equipment Financing
|
| | July 27, 2020 | | | August 1, 2024 | | |
Fixed interest rate 7.2%;
EOT 11.5% |
| | | | 1,170 | | | | | | n/a | | | | | | n/a | | | | | | 1,242 | | | | | | 1,241 | | |
(Amounts presented in thousands, except number of shares or units.)
|
| |
Investment Date(4)
|
| |
Maturity Date
|
| |
Interest Rate(5)
|
| |
Principal
Amount(6) |
| |
Number
of Shares or Units |
| |
Percentage
of Class Held on a Fully Diluted Basis |
| |
Cost
|
| |
Fair
Value(7) |
| |||||||||||||||||||||
Portfolio Company(1)
|
| |
Industry(2)
|
| |
Type of
Investment(3) |
| |||||||||||||||||||||||||||||||||||||||
| | | | | |
Equipment Financing
|
| |
September 4, 2020
|
| | October 1, 2024 | | |
Fixed interest rate 7.5%;
EOT 11.5% |
| | | | 211 | | | | | | n/a | | | | | | n/a | | | | | | 221 | | | | | | 221 | | |
| | | | | |
Equipment Financing
|
| | March 29, 2021 | | | April 1, 2025 | | |
Fixed interest rate 7.2%;
EOT 11.5% |
| | | | 2,618 | | | | | | n/a | | | | | | n/a | | | | | | 2,667 | | | | | | 2,675 | | |
Total BackBlaze, Inc. | | | | | | | | | | | | | | | | | | |
|
10,207
|
| | | | | | | | | | | | | | | |
|
11,117
|
| | | |
|
11,115
|
| |
BaubleBar, Inc.
1115 Broadway, 5th Floor New York, NY 10010 |
| |
Wholesale Trade
|
| | | | | | | | |||||||||||||||||||||||||||||||||||
| | | | Secured Loan | | | January 16, 2020 | | | March 1, 2023 | | |
Fixed interest rate 11.5%; EOT 7.3%
|
| | | | 4,599 | | | | | | n/a | | | | | | n/a | | | | | | 5,467 | | | | | | 5,160 | | | ||
| | | | Warrant | | | January 16, 2020 | | | March 29, 2027 | | |
Preferred Series C; Strike Price $1.96
|
| | | | n/a | | | | | | 531,806 | | | | | | n/a | | | | | | 638 | | | | | | 210 | | | ||
| | | | | | Warrant | | | January 16, 2020 | | | April 20, 2028 | | |
Preferred Series C; Strike Price $1.96
|
| | | | n/a | | | | | | 60,000 | | | | | | n/a | | | | | | 72 | | | | | | 24 | | |
Total BaubleBar, Inc. | | | | | | | | | | | | | | | | | | |
|
4,599
|
| | | | | | | | | | | | | | | |
|
6,177
|
| | | |
|
5,394
|
| |
Birchbox, Inc.
16 Madison Square West, 4th Floor New York, NY 10010 New York, NY 10010 |
| |
Retail Trade
|
| | | | | | | | | ||||||||||||||||||||||||||||||||||
| | | | Secured Loan | | | January 16, 2020 | | | July 1, 2024 | | |
Fixed interest rate 9.0%;
EOT 3.0% |
| | | | 10,000 | | | | | | n/a | | | | | | n/a | | | | | | 10,497 | | | | | | 8,996 | | | ||
| | | | Equity | | | April 20, 2020 | | | n/a | | |
Preferred Series D(15)
|
| | | | n/a | | | | | | 3,140,927 | | | | | | 100.00% | | | | | | 10,271 | | | | | | — | | | ||
| | | | Equity | | | March 26, 2021 | | | n/a | | |
Preferred Series E(15)
|
| | | | n/a | | | | | | 2,002,416 | | | | | | 100.00% | | | | | | 5,500 | | | | | | 5,313 | | | ||
Total Birchbox, Inc.(16)
|
| | | | | | | | | | | | | | | | | |
|
10,000
|
| | | | | | | | | | | | | | | |
|
26,268
|
| | | |
|
14,309
|
| |
Boosted eCommerce, Inc.
133 Post Oak Blvd., Suite 1200 Houston, TX 77056 |
| |
Retail Trade
|
| | | | | | | | |||||||||||||||||||||||||||||||||||
| | | | Secured Loan | | |
December 18, 2020
|
| | January 1, 2023 | | |
Variable interest rate PRIME + 7.8% or Floor rate 11.0%; EOT 3.3%
|
| | | | 5,000 | | | | | | n/a | | | | | | n/a | | | | | | 4,988 | | | | | | 5,035 | | | ||
| | | | Secured Loan | | | January 29, 2021 | | | January 1, 2023 | | |
Variable interest rate PRIME + 7.8% or Floor rate 11.0%; EOT 3.3%
|
| | | | 2,500 | | | | | | n/a | | | | | | n/a | | | | | | 2,488 | | | | | | 2,510 | | | ||
| | | | | | Secured Loan | | |
February 26, 2021
|
| | January 1, 2023 | | |
Variable interest rate PRIME + 7.8% or Floor rate 11.0%; EOT 3.3%
|
| | | | 7,500 | | | | | | n/a | | | | | | n/a | | |