bkcc-10q_20210630.htm

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended June 30, 2021

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                  to                 

Commission file number 814-00712

BLACKROCK CAPITAL INVESTMENT CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

 

Delaware

20-2725151

(State or Other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

 

 

40 East 52nd Street, New York, NY

10022

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212-810-5800

 

      

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer     Accelerated filer     Non-Accelerated filer     

Smaller reporting company     Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value

BKCC

NASDAQ Global Select Market

The number of shares of the Registrant’s common stock, $.001 par value per share, outstanding at August 4, 2021 was 74,101,740.

 

 

 


 

 

 

 

BLACKROCK CAPITAL INVESTMENT CORPORATION

FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2021

Table of Contents

 

 

INDEX

PAGE NO.

 

 

 

PART I.

FINANCIAL INFORMATION

 

 

 

 

Item 1.

CONSOLIDATED FINANCIAL STATEMENTS

3

 

 

 

 

Consolidated Statements of Assets and Liabilities as of June 30, 2021 and December 31, 2020 (unaudited)

3

 

 

 

 

Consolidated Statements of Operations for the three and six months ended June 30, 2021 and 2020 (unaudited)

4

 

 

 

 

Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2021 and 2020 (unaudited)

5

 

 

 

 

Consolidated Statements of Cash Flows for the six months ended June 30, 2021 and 2020 (unaudited)

6

 

 

 

 

Consolidated Schedules of Investments as of June 30, 2021 and December 31, 2020 (unaudited)

7

 

 

 

 

Notes to Consolidated Financial Statements (unaudited)

22

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

45

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

55

 

 

 

Item 4.

Controls and Procedures

56

 

 

 

PART II.

OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

57

 

 

 

Item 1A.

Risk Factors

57

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

58

 

 

 

Item 3.

Defaults Upon Senior Securities

58

 

 

 

Item 4.

Mine Safety Disclosures

58

 

 

 

Item 5.

Other Information

58

 

 

 

Item 6.

Exhibits

59

 

 

SIGNATURES

60

 

 

 

2


 

 

 

 

PART I. FINANCIAL INFORMATION

In this Quarterly Report, “Company”, “we”, “us” and “our” refer to BlackRock Capital Investment Corporation unless the context states otherwise.

Item 1. Consolidated Financial Statements

BlackRock Capital Investment Corporation

Consolidated Statements of Assets and Liabilities  

 

 

 

June 30,

2021

 

 

December 31,

2020

 

 

 

(Unaudited)

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Investments at fair value:

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments (cost of $469,917,118 and $369,079,320)

 

$

493,129,011

 

 

$

354,957,936

 

Non-controlled, affiliated investments (cost of $5,121,773 and $20,927,907)

 

 

4,281,369

 

 

 

13,099,313

 

Controlled investments (cost of $143,128,356 and $216,768,227)

 

 

51,869,839

 

 

 

110,968,227

 

Total investments at fair value (cost of $618,167,247 and $606,775,454)

 

 

549,280,219

 

 

 

479,025,476

 

Cash and cash equivalents

 

 

17,030,583

 

 

 

23,332,831

 

Interest, dividends and fees receivable

 

 

2,484,493

 

 

 

2,138,304

 

Receivable for investments sold

 

 

25,156

 

 

 

5,439,507

 

Deferred debt issuance costs

 

 

1,741,443

 

 

 

1,374,115

 

Prepaid expenses and other assets

 

 

1,153,459

 

 

 

409,357

 

Total assets

 

$

571,715,353

 

 

$

511,719,590

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Debt (net of deferred issuance costs of $896,656 and $1,360,356)

 

$

193,926,217

 

 

$

179,798,037

 

Distributions payable

 

 

7,413,594

 

 

 

 

Payable for investments purchased

 

 

16,845,569

 

 

 

9,193,917

 

Management fees payable

 

 

1,775,684

 

 

 

2,313,447

 

Incentive fees payable

 

 

1,849,597

 

 

 

1,849,597

 

Interest and debt related payables

 

 

620,493

 

 

 

502,682

 

Accrued administrative expenses

 

 

314,886

 

 

 

389,064

 

Accrued expenses and other liabilities

 

 

1,758,928

 

 

 

2,662,569

 

Total liabilities

 

 

224,504,968

 

 

 

196,709,313

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies (see Note 9)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net assets

 

 

 

 

 

 

 

 

Common stock, par value $.001 per share, 200,000,000 common shares authorized, 84,478,251 and 84,478,251 issued and 74,129,659 and 74,466,665 outstanding

 

 

84,478

 

 

 

84,478

 

Paid-in capital in excess of par

 

 

858,079,713

 

 

 

858,079,713

 

Distributable earnings (losses)

 

 

(443,485,518

)

 

 

(476,857,055

)

Treasury stock at cost, 10,348,592 and 10,011,586 shares held

 

 

(67,468,288

)

 

 

(66,296,859

)

Total net assets

 

 

347,210,385

 

 

 

315,010,277

 

Total liabilities and net assets

 

$

571,715,353

 

 

$

511,719,590

 

 

 

 

 

 

 

 

 

 

Net assets per share

 

$

4.68

 

 

$

4.23

 

 

The accompanying notes are an integral part of these consolidated financial statements.

3


 

 

 

 

BlackRock Capital Investment Corporation

Consolidated Statements of Operations

(Unaudited)

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2021

 

 

June 30, 2020

 

 

June 30, 2021

 

 

June 30, 2020

 

Investment income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income (excluding PIK):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

$

9,210,827

 

 

$

7,600,731

 

 

$

17,260,077

 

 

$

15,722,654

 

Non-controlled, affiliated investments

 

 

 

 

 

118,000

 

 

 

11,867

 

 

 

243,474

 

Controlled investments

 

 

135,371

 

 

 

5,486,595

 

 

 

718,571

 

 

 

10,902,430

 

PIK income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

815,710

 

 

 

1,358,694

 

 

 

1,596,389

 

 

 

2,454,125

 

Non-controlled, affiliated investments

 

 

117,985

 

 

 

112,958

 

 

 

237,014

 

 

 

221,789

 

Controlled investments

 

 

 

 

 

180,156

 

 

 

 

 

 

1,053,664

 

Dividend income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, affiliated investments

 

 

 

 

 

 

 

71,500

 

 

 

Controlled investments

 

 

536,908

 

 

 

2,566,148

 

 

 

1,047,975

 

 

 

5,473,651

 

Other income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

40,958

 

 

 

17,087

 

 

 

186,990

 

 

 

63,254

 

Non-controlled, affiliated investments

 

 

 

 

 

1,436

 

 

 

 

 

 

2,871

 

Controlled investments

 

 

 

 

 

61,153

 

 

 

 

 

 

64,340

 

Total investment income

 

 

10,857,759

 

 

 

17,502,958

 

 

 

21,130,383

 

 

 

36,202,252

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other debt expenses

 

 

2,969,177

 

 

 

4,359,441

 

 

 

5,722,273

 

 

 

8,571,715

 

Management fees

 

 

1,775,684

 

 

 

2,708,862

 

 

 

3,575,450

 

 

 

6,004,549

 

Incentive fees

 

 

 

 

 

1,608,740

 

 

 

 

 

 

3,533,138

 

Professional fees

 

 

254,834

 

 

 

544,845

 

 

 

666,993

 

 

 

1,069,857

 

Administrative expenses

 

 

314,886

 

 

 

375,704

 

 

 

637,001

 

 

 

689,265

 

Insurance expense

 

 

201,597

 

 

 

123,223

 

 

 

400,961

 

 

 

242,843

 

Director fees

 

 

153,125

 

 

 

152,500

 

 

 

306,250

 

 

 

337,250

 

Investment advisor expenses

 

 

87,500

 

 

 

87,500

 

 

 

175,000

 

 

 

175,000

 

Other operating expenses

 

 

258,232

 

 

 

384,693

 

 

 

613,514

 

 

 

723,596

 

Total expenses, before incentive fee waiver

 

 

6,015,035

 

 

 

10,345,508

 

 

 

12,097,442

 

 

 

21,347,213

 

Incentive fee waiver (see Note 3)

 

 

 

 

 

(1,608,740

)

 

 

 

 

 

(3,533,138

)

Expenses, net of incentive fee waiver

 

 

6,015,035

 

 

 

8,736,768

 

 

 

12,097,442

 

 

 

17,814,075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net investment income

 

 

4,842,724

 

 

 

8,766,190

 

 

 

9,032,941

 

 

 

18,388,177

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized and unrealized gain (loss) on investments and foreign currency

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized gain (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

6,773

 

 

 

(12,316,751

)

 

 

(639,501

)

 

 

(12,311,266

)

Non-controlled, affiliated investments

 

 

 

 

 

(42,238,921

)

 

 

(7,989,591

)

 

 

(43,774,013

)

Controlled investments

 

 

(8,749,931

)

 

 

 

 

 

(11,040,074

)

 

 

 

Net realized gain (loss)

 

 

(8,743,158

)

 

 

(54,555,672

)

 

 

(19,669,166

)

 

 

(56,085,279

)

Net change in unrealized appreciation (depreciation):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

27,464,721

 

 

 

11,084,426

 

 

 

37,333,277

 

 

 

(15,942,530

)

Non-controlled, affiliated investments

 

 

153,217

 

 

 

42,458,272

 

 

 

6,988,190

 

 

 

34,178,158

 

Controlled investments

 

 

8,689,595

 

 

 

(35,387,880

)

 

 

14,826,843

 

 

 

(66,790,209

)

Foreign currency translation

 

 

(381,379

)

 

 

239,587

 

 

 

(285,360

)

 

 

(337,060

)

Net change in unrealized appreciation (depreciation)

 

 

35,926,154

 

 

 

18,394,405

 

 

 

58,862,950

 

 

 

(48,891,641

)

Net realized and unrealized gain (loss)

 

 

27,182,996

 

 

 

(36,161,267

)

 

 

39,193,784

 

 

 

(104,976,920

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

 

$

32,025,720

 

 

$

(27,395,077

)

 

$

48,226,725

 

 

$

(86,588,743

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net investment income per share—basic

 

$

0.07

 

 

$

0.13

 

 

$

0.12

 

 

$

0.27

 

Earnings (loss) per share—basic

 

$

0.43

 

 

$

(0.40

)

 

$

0.65

 

 

$

(1.27

)

Weighted average shares outstanding—basic

 

 

74,150,425

 

 

 

68,117,628

 

 

 

74,292,637

 

 

 

68,365,792

 

Net investment income per share—diluted

 

$

0.07

 

 

$

0.13

 

 

$

0.12

 

 

$

0.27

 

Earnings (loss) per share—diluted

 

$

0.38

 

 

$

(0.40

)

 

$

0.58

 

 

$

(1.27

)

Weighted average shares outstanding—diluted (see Note 8)

 

 

91,144,162

 

 

 

85,111,365

 

 

 

91,286,374

 

 

 

85,359,529

 

 

 

The accompanying notes are an integral part of these consolidated financial statements.

4


 

 

 

 

BlackRock Capital Investment Corporation

Consolidated Statements of Changes in Net Assets

(Unaudited)

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Outstanding

 

 

Par Amount, Shares Issued

 

 

Paid in Capital

in Excess of Par

 

 

Distributable

earnings (loss)

 

 

Treasury Stock at Cost

 

 

Total Net

Assets

 

Balance at December 31, 2020

 

 

74,466,665

 

 

$

84,478

 

 

$

858,079,713

 

 

$

(476,857,055

)

 

$

(66,296,859

)

 

$

315,010,277

 

Repurchase of common stock

 

 

(256,062

)

 

 

 

 

 

 

 

 

(869,726

)

 

 

(869,726

)

Net investment income

 

 

 

 

 

 

 

 

4,190,217

 

 

 

 

 

4,190,217

 

Net realized and unrealized gain

 

 

 

 

 

 

 

 

12,010,788

 

 

 

 

 

12,010,788

 

Distributions to common stockholders(1)

 

 

 

 

 

 

 

 

(7,441,594

)

 

 

 

 

(7,441,594

)

Balance at March 31, 2021

 

 

74,210,603

 

 

$

84,478

 

 

$

858,079,713

 

 

$

(468,097,644

)

 

$

(67,166,585

)

 

$

322,899,962

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase of common stock

 

 

(80,944

)

 

 

 

 

 

 

 

 

(301,703

)

 

 

(301,703

)

Net investment income

 

 

 

 

 

 

 

 

4,842,724

 

 

 

 

 

4,842,724

 

Net realized and unrealized gain

 

 

 

 

 

 

 

 

27,182,996

 

 

 

 

 

27,182,996

 

Distributions to common stockholders(1)

 

 

 

 

 

 

 

 

(7,413,594

)

 

 

 

 

(7,413,594

)

Balance at June 30, 2021

 

 

74,129,659

 

 

$

84,478

 

 

$

858,079,713

 

 

$

(443,485,518

)

 

$

(67,468,288

)

 

$

347,210,385

 

 

 

(1)

Sources of distribution to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). For the three months ended June 30, 2021, it is estimated that $2,570,870 out of the total $7,413,594 distribution was from a return of capital based on book income. For the three months ended March 31, 2021, it is estimated that $3,251,377 out of the total $7,441,594 distribution was from a return of capital based on book income.

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Outstanding

 

 

Par Amount, Shares Issued

 

 

Paid in Capital

in Excess of Par

 

 

Distributable

earnings (loss)

 

 

Treasury Stock at Cost

 

 

Total Net

Assets

 

Balance at December 31, 2019

 

 

68,836,255

 

 

$

77,861

 

 

$

849,240,398

 

 

$

(351,040,023

)

 

$

(62,669,255

)

 

$

435,608,981

 

Repurchase of common stock

 

 

(986,554

)

 

 

 

 

 

 

 

 

(3,627,604

)

 

 

(3,627,604

)

Net investment income

 

 

 

 

 

 

 

 

9,621,987

 

 

 

 

 

9,621,987

 

Net realized and unrealized loss

 

 

 

 

 

 

 

 

(68,815,655

)

 

 

 

 

(68,815,655

)

Distributions to common stockholders(1)

 

 

 

 

 

 

 

 

(9,543,152

)

 

 

 

 

(9,543,152

)

Balance at March 31, 2020

 

 

67,849,701

 

 

$

77,861

 

 

$

849,240,398

 

 

$

(419,776,843

)

 

$

(66,296,859

)

 

$

363,244,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of common stock from dividend reinvestment plan

 

 

290,254

 

 

 

291

 

 

 

638,269

 

 

 

 

 

 

 

638,560

 

Net investment income

 

 

 

 

 

 

 

 

8,766,190

 

 

 

 

 

8,766,190

 

Net realized and unrealized loss

 

 

 

 

 

 

 

 

(36,161,267

)

 

 

 

 

(36,161,267

)

Distributions to common stockholders(1)

 

 

 

 

 

 

 

 

(6,813,994

)

 

 

 

 

(6,813,994

)

Balance at June 30, 2020

 

 

68,139,955

 

 

$

78,152

 

 

$

849,878,667

 

 

$

(453,985,914

)

 

$

(66,296,859

)

 

$

329,674,046

 

 

 

(1)

Sources of distribution to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2).

The accompanying notes are an integral part of these consolidated financial statements.

5


 

 

 

 

BlackRock Capital Investment Corporation

Consolidated Statements of Cash Flows

(Unaudited)

 

 

 

Six Months Ended

 

 

 

June 30, 2021

 

 

June 30, 2020

 

Operating activities

 

 

 

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

 

$

48,226,725

 

 

$

(86,588,743

)

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

Net realized (gain) loss

 

 

19,669,166

 

 

 

56,085,279

 

Change in unrealized (appreciation) depreciation of investments

 

 

(59,148,310

)

 

 

48,554,581

 

Change in unrealized (appreciation) depreciation on foreign currency translation

 

 

285,360

 

 

 

337,060

 

Interest and dividend income paid in kind

 

 

(1,833,403

)

 

 

(3,729,578

)

Net amortization of investment discounts and premiums

 

 

(688,156

)

 

 

(405,343

)

Amortization of deferred debt issuance costs

 

 

863,830

 

 

 

1,220,921

 

Amortization of original issue discount on debt

 

 

464,480

 

 

 

439,089

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Purchase of investments

 

 

(141,841,057

)

 

 

(55,184,092

)

Proceeds from disposition of investments

 

 

113,366,562

 

 

 

59,830,118

 

Decrease (increase) in interest, dividends and fees receivable

 

 

(411,093

)

 

 

(2,318,764

)

Decrease (increase) in receivable for investments sold

 

 

5,414,351

 

 

 

(3,956,572

)

Decrease (increase) in prepaid expenses and other assets

 

 

(744,102

)

 

 

(1,325,601

)

Increase (decrease) in payable for investments purchased

 

 

7,651,652

 

 

 

(7,076,250

)

Increase (decrease) in interest and debt related payables

 

 

117,811

 

 

 

(260,896

)

Increase (decrease) in management fees payable

 

 

(537,763

)

 

 

(542,331

)

Increase (decrease) in accrued administrative expenses

 

 

(74,178

)

 

 

3,297

 

Increase (decrease) in accrued expenses and other liabilities

 

 

(903,641

)

 

 

696,185

 

Net cash provided by (used in) operating activities

 

 

(10,121,766

)

 

 

5,778,360

 

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

Draws on credit facility

 

 

64,000,000

 

 

 

98,000,000

 

Repayments of credit facility draws

 

 

(50,800,000

)

 

 

(93,200,000

)

Payments of debt issuance costs

 

 

(767,459

)

 

 

Distributions paid to common stockholders

 

 

(7,441,594

)

 

 

(18,541,668

)

Repurchase of common stock

 

 

(1,171,429

)

 

 

(3,627,604

)

Net cash provided by financing activities

 

 

3,819,518

 

 

 

(17,369,272

)

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

 

(6,302,248

)

 

 

(11,590,912

)

Cash and cash equivalents at beginning of period

 

 

23,332,831

 

 

 

14,678,878

 

Cash and cash equivalents at end of period

 

$

17,030,583

 

 

$

3,087,966

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow information

 

 

 

 

 

 

 

 

Interest payments

 

$

3,762,774

 

 

$

6,685,050

 

Tax payments

 

$

60,050

 

 

$

68,050

 

Share issuance — stock distribution and reinvestment

 

$

 

 

$

638,560

 

 

 

The accompanying notes are an integral part of these consolidated financial statements.

6


 

 

 

 

BlackRock Capital Investment Corporation

Consolidated Schedules of Investments

June 30, 2021

(Unaudited)

 

Issuer(P/R)

 

Instrument

 

Ref(E)

 

Floor

 

 

Spread

 

 

Total Coupon

 

 

Maturity

 

Principal

 

 

Cost(A)

 

 

Fair

Value(B)

 

 

Notes

Debt Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace & Defense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unanet, Inc.

 

First Lien Term Loan

 

LIBOR(M)

 

 

 

 

 

6.25

%

 

 

6.38

%

 

5/31/2024

 

$

6,632,653

 

 

$

6,592,263

 

 

$

6,672,449

 

 

 

Unanet, Inc.

 

Sr Secured Revolver