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)
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Delaware |
20-2725151 |
|
(State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification No.) |
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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
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INDEX |
PAGE NO. |
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PART I. |
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Item 1. |
3 |
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3 |
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4 |
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5 |
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Consolidated Statements of Cash Flows for the six months ended June 30, 2021 and 2020 (unaudited) |
6 |
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Consolidated Schedules of Investments as of June 30, 2021 and December 31, 2020 (unaudited) |
7 |
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22 |
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Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
45 |
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Item 3. |
55 |
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Item 4. |
56 |
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PART II. |
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Item 1. |
57 |
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Item 1A. |
57 |
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Item 2. |
58 |
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Item 3. |
58 |
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Item 4. |
58 |
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Item 5. |
58 |
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Item 6. |
59 |
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60 |
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2
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
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June 30, 2021 |
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December 31, 2020 |
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(Unaudited) |
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Assets |
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Investments at fair value: |
|
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|
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Non-controlled, non-affiliated investments (cost of $469,917,118 and $369,079,320) |
|
$ |
493,129,011 |
|
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$ |
354,957,936 |
|
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Non-controlled, affiliated investments (cost of $5,121,773 and $20,927,907) |
|
|
4,281,369 |
|
|
|
13,099,313 |
|
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Controlled investments (cost of $143,128,356 and $216,768,227) |
|
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51,869,839 |
|
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110,968,227 |
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Total investments at fair value (cost of $618,167,247 and $606,775,454) |
|
|
549,280,219 |
|
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|
479,025,476 |
|
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Cash and cash equivalents |
|
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17,030,583 |
|
|
|
23,332,831 |
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Interest, dividends and fees receivable |
|
|
2,484,493 |
|
|
|
2,138,304 |
|
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Receivable for investments sold |
|
|
25,156 |
|
|
|
5,439,507 |
|
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Deferred debt issuance costs |
|
|
1,741,443 |
|
|
|
1,374,115 |
|
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Prepaid expenses and other assets |
|
|
1,153,459 |
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|
|
409,357 |
|
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Total assets |
|
$ |
571,715,353 |
|
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$ |
511,719,590 |
|
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|
|
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Liabilities |
|
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Debt (net of deferred issuance costs of $896,656 and $1,360,356) |
|
$ |
193,926,217 |
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$ |
179,798,037 |
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Distributions payable |
|
|
7,413,594 |
|
|
|
— |
|
|
Payable for investments purchased |
|
|
16,845,569 |
|
|
|
9,193,917 |
|
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Management fees payable |
|
|
1,775,684 |
|
|
|
2,313,447 |
|
|
Incentive fees payable |
|
|
1,849,597 |
|
|
|
1,849,597 |
|
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Interest and debt related payables |
|
|
620,493 |
|
|
|
502,682 |
|
|
Accrued administrative expenses |
|
|
314,886 |
|
|
|
389,064 |
|
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Accrued expenses and other liabilities |
|
|
1,758,928 |
|
|
|
2,662,569 |
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Total liabilities |
|
|
224,504,968 |
|
|
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196,709,313 |
|
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|
|
|
|
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Commitments and contingencies (see Note 9) |
|
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Net assets |
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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 |
|
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84,478 |
|
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84,478 |
|
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Paid-in capital in excess of par |
|
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858,079,713 |
|
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|
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 |
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(67,468,288 |
) |
|
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(66,296,859 |
) |
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Total net assets |
|
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347,210,385 |
|
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315,010,277 |
|
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Total liabilities and net assets |
|
$ |
571,715,353 |
|
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$ |
511,719,590 |
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|
|
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Net assets per share |
|
$ |
4.68 |
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$ |
4.23 |
|
The accompanying notes are an integral part of these consolidated financial statements.
3
BlackRock Capital Investment Corporation
Consolidated Statements of Operations
(Unaudited)
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Three Months Ended |
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Six Months Ended |
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June 30, 2021 |
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June 30, 2020 |
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June 30, 2021 |
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June 30, 2020 |
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Investment income |
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Interest income (excluding PIK): |
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Non-controlled, non-affiliated investments |
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$ |
9,210,827 |
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$ |
7,600,731 |
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$ |
17,260,077 |
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$ |
15,722,654 |
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Non-controlled, affiliated investments |
|
|
— |
|
|
|
118,000 |
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|
11,867 |
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|
243,474 |
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Controlled investments |
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|
135,371 |
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5,486,595 |
|
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718,571 |
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10,902,430 |
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PIK income: |
|
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Non-controlled, non-affiliated investments |
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815,710 |
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1,358,694 |
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1,596,389 |
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2,454,125 |
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Non-controlled, affiliated investments |
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117,985 |
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112,958 |
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237,014 |
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|
221,789 |
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Controlled investments |
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— |
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|
180,156 |
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|
— |
|
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|
1,053,664 |
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Dividend income: |
|
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Non-controlled, affiliated investments |
|
|
— |
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|
— |
|
|
|
71,500 |
|
|
— |
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||
|
Controlled investments |
|
|
536,908 |
|
|
|
2,566,148 |
|
|
|
1,047,975 |
|
|
|
5,473,651 |
|
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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 |
|
|
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36,202,252 |
|
|
|
|
|
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|
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|
|
|
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Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||