Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.22.2.2
Commitments and Contingencies
9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Portfolio Company Commitments
From time to time, the Company may enter into commitments to fund investments. As of September 30, 2022 and December 31, 2021, the Company had the following outstanding commitments to fund investments in current portfolio companies:

Portfolio Company Investment September 30, 2022 December 31, 2021
($ in thousands)
3ES Innovation Inc. (dba Aucerna) First lien senior secured revolving loan $ 2,193  $ 3,893 
AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest 45,000  — 
AAM Series 2.1 Aviation Feeder, LLC LLC Interest 43,632  — 
ABB/Con-cise Optical Group LLC First lien senior secured revolving loan 495  — 
Accela, Inc. First lien senior secured revolving loan 1,500  3,000 
Alera Group, Inc. First lien senior secured delayed draw term loan —  417 
AmeriLife Holdings LLC First lien senior secured delayed draw term loan 182  — 
AmeriLife Holdings LLC First lien senior secured revolving loan 91  — 
AmSpec Group, Inc. (fka AmSpec Services Inc.) First lien senior secured revolving loan 11,750  10,665 
Anaplan, Inc. First lien senior secured revolving loan 9,722  — 
Apex Group Treasury, LLC Second lien senior secured delayed draw term loan —  25,147 
Apex Service Partners, LLC First lien senior secured delayed draw term loan 164  — 
Apex Service Partners, LLC First lien senior secured revolving loan 50  — 
Apptio, Inc. First lien senior secured revolving loan 1,667  1,667 
Aramsco, Inc. First lien senior secured revolving loan 8,099  8,378 
Ardonagh Midco 3 PLC First lien senior secured GBP delayed draw term loan 9,097  11,038 
Armstrong Bidco Limited (dba The Access Group) First lien senior secured delayed draw term loan 760  — 
Ascend Buyer, LLC (dba PPC Flexible Packaging) First lien senior secured revolving loan 489  471 
Associations, Inc. First lien senior secured delayed draw term loan 46,567  — 
Associations, Inc. First lien senior secured revolving loan 32,923  32,923 
AxiomSL Group, Inc. First lien senior secured delayed draw term loan 8,331  8,331 
AxiomSL Group, Inc. First lien senior secured revolving loan 18,227  18,227 
Bayshore Intermediate #2, L.P. (dba Boomi) First lien senior secured revolving loan 6,913  6,913 
BCPE Osprey Buyer, Inc. (dba PartsSource) First lien senior secured delayed draw term loan 28,014  28,014 
BCPE Osprey Buyer, Inc. (dba PartsSource) First lien senior secured revolving loan 11,855  11,855 
BCTO BSI Buyer, Inc. (dba Buildertrend) First lien senior secured revolving loan 8,036  2,339 
Blend Labs, Inc. First lien senior secured revolving loan 7,500  7,500 
BP Veraison Buyer, LLC (dba Sun World) First lien senior secured delayed draw term loan 29,054  29,054 
BP Veraison Buyer, LLC (dba Sun World) First lien senior secured revolving loan 8,716  8,716 
Brightway Holdings, LLC First lien senior secured revolving loan 3,158  3,158 
Centrify Corporation First lien senior secured revolving loan 3,409  6,817 
Chapford SMA Partnership, L.P. LP Interest 8,575  — 
CivicPlus, LLC First lien senior secured delayed draw term loan —  6,673 
CivicPlus, LLC First lien senior secured revolving loan 2,698  1,335 
Denali BuyerCo, LLC (dba Summit Companies) First lien senior secured delayed draw term loan 4,008  9,849 
Denali BuyerCo, LLC (dba Summit Companies) First lien senior secured revolving loan 2,998  3,556 
Diamondback Acquisition, Inc. (dba Sphera) First lien senior secured delayed draw term loan 1,080  1,080 
Dodge Data & Analytics LLC First lien senior secured revolving loan —  1,888 
Portfolio Company Investment September 30, 2022 December 31, 2021
Douglas Products and Packaging Company LLC First lien senior secured revolving loan 8,619  3,936 
EET Buyer, Inc. (dba e-Emphasys) First lien senior secured revolving loan 455  455 
Entertainment Benefits Group, LLC First lien senior secured revolving loan 133  11,200 
Evolution BuyerCo, Inc. (dba SIAA) First lien senior secured revolving loan 10,709  10,709 
Forescout Technologies, Inc. First lien senior secured delayed draw term loan 48,750  — 
Forescout Technologies, Inc. First lien senior secured revolving loan 5,345  5,345 
Fortis Solutions Group, LLC First lien senior secured delayed draw term loan 155  1,347 
Fortis Solutions Group, LLC First lien senior secured revolving loan 431  462 
Fullsteam Operations, LLC First lien senior secured delayed draw term loan 6,838  — 
Gainsight, Inc. First lien senior secured revolving loan 3,357  3,357 
Galls, LLC First lien senior secured revolving loan 14,186  20,468 
Gaylord Chemical Company, L.L.C. First lien senior secured revolving loan 13,202  13,202 
Gerson Lehrman Group, Inc. First lien senior secured revolving loan 21,563  21,563 
GI Ranger Intermediate, LLC (dba Rectangle Health) First lien senior secured delayed draw term loan —  614 
GI Ranger Intermediate, LLC (dba Rectangle Health) First lien senior secured revolving loan 332  369 
Global Music Rights, LLC First lien senior secured revolving loan 667  667 
GovBrands Intermediate, Inc. First lien senior secured delayed draw term loan 1,111  1,111 
GovBrands Intermediate, Inc. First lien senior secured revolving loan 573  793 
Granicus, Inc. First lien senior secured delayed draw term loan 1,006  1,006 
Granicus, Inc. First lien senior secured revolving loan 1,187  1,187 
Guidehouse Inc. First lien senior secured revolving loan —  351 
H&F Opportunities LUX III S.À R.L (dba Checkmarx) First lien senior secured revolving loan 16,250  16,250 
Hercules Borrower, LLC (dba The Vincit Group) First lien senior secured revolving loan 18,685  20,916 
HGH Purchaser, Inc. (dba Horizon Services) First lien senior secured delayed draw term loan 12,803  49,359 
HGH Purchaser, Inc. (dba Horizon Services) First lien senior secured revolving loan 6,520  7,031 
Hissho Sushi Merger Sub LLC First lien senior secured revolving loan 65  — 
Hometown Food Company First lien senior secured revolving loan 3,529  4,235 
Ideal Image Development, LLC First lien senior secured delayed draw term loan 1,463  — 
Ideal Image Development, LLC First lien senior secured revolving loan 1,829  — 
Ideal Tridon Holdings, Inc. First lien senior secured revolving loan 5,727  3,927 
IG Investments Holdings, LLC (dba Insight Global) First lien senior secured revolving loan 3,974  1,987 
Indigo Buyer, Inc. (dba Inovar Packaging Group) First lien senior secured delayed draw term loan 250  — 
Indigo Buyer, Inc. (dba Inovar Packaging Group) First lien senior secured revolving loan 83  — 
Individual Foodservice Holdings, LLC First lien senior secured delayed draw term loan —  6,890 
Individual Foodservice Holdings, LLC First lien senior secured revolving loan 21,567  20,609 
Inovalon Holdings, Inc. First lien senior secured delayed draw term loan 18,988  18,988 
Integrity Marketing Acquisition, LLC First lien senior secured revolving loan 14,832  14,832 
Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.) First lien senior secured revolving loan 1,607  1,607 
Interoperability Bidco, Inc. (dba Lyniate) First lien senior secured revolving loan 3,043  4,000 
IQN Holding Corp. (dba Beeline) First lien senior secured revolving loan —  22,672 
Kaseya Inc. First lien senior secured delayed draw term loan 1,134  — 
Kaseya Inc. First lien senior secured revolving loan 1,134  — 
KPSKY Acquisition, Inc. (dba BluSky) First lien senior secured delayed draw term loan —  256 
Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC) First lien senior secured revolving loan 600  8,700 
Portfolio Company Investment September 30, 2022 December 31, 2021
Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.) First lien senior secured revolving loan 26,833  26,833 
Mario Purchaser, LLC (dba Len the Plumber) First lien senior secured delayed draw term loan 4,880  — 
Mario Midco Holdings, Inc. First lien senior secured revolving loan 1,381  — 
Lignetics Investment Corp. First lien senior secured delayed draw term loan 3,922  3,922 
Lignetics Investment Corp. First lien senior secured revolving loan 549  3,922 
Litera Bidco LLC First lien senior secured delayed draw term loan —  5,176 
Litera Bidco LLC First lien senior secured revolving loan 5,738  5,738 
Medline Borrower, LP First lien senior secured revolving loan 7,190  7,190 
MHE Intermediate Holdings, LLC (dba OnPoint Group) First lien senior secured delayed draw term loan —  9,850 
MHE Intermediate Holdings, LLC (dba OnPoint Group) First lien senior secured revolving loan 15,536  15,536 
Milan Laser Holdings LLC First lien senior secured revolving loan 2,078  2,078 
MINDBODY, Inc. First lien senior secured revolving loan 6,071  6,071 
Ministry Brands Holdings, LLC First lien senior secured delayed draw term loan 226  226 
Ministry Brands Holdings, LLC First lien senior secured revolving loan 68  68 
National Dentex Labs LLC (fka Barracuda Dental LLC) First lien senior secured delayed draw term loan —  3,980 
National Dentex Labs LLC (fka Barracuda Dental LLC) First lien senior secured revolving loan —  6,322 
Natural Partners, LLC First lien senior secured revolving loan 68  — 
Nelipak Holding Company First lien senior secured USD revolving loan 6,299  4,288 
Nelipak Holding Company First lien senior secured EUR revolving loan 6,214  7,518 
NMI Acquisitionco, Inc. (dba Network Merchants) First lien senior secured delayed draw term loan 4,073  4,073 
NMI Acquisitionco, Inc. (dba Network Merchants) First lien senior secured revolving loan 1,652  1,652 
Norvax, LLC (dba GoHealth) First lien senior secured revolving loan 2,761  2,761 
Notorious Topco, LLC (dba Beauty Industry Group) First lien senior secured delayed draw term loan 6,385  15,962 
Notorious Topco, LLC (dba Beauty Industry Group) First lien senior secured revolving loan 9,577  7,981 
OB Hospitalist Group, Inc. First lien senior secured revolving loan 12,119  13,533 
Ole Smoky Distillery, LLC First lien senior secured revolving loan 116  — 
Pacific BidCo Inc. First lien senior secured delayed draw term loan 3,436  — 
Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.) First lien senior secured revolving loan 13,538  13,538 
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services) First lien senior secured delayed draw term loan —  8,695 
Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services) First lien senior secured revolving loan 6,161  6,161 
Plasma Buyer LLC (dba PathGroup) First lien senior secured delayed draw term loan 176  — 
Plasma Buyer LLC (dba PathGroup) First lien senior secured revolving loan 76  — 
Pluralsight, LLC First lien senior secured revolving loan 6,235  6,235 
PPV Intermediate Holdings, LLC First lien senior secured delayed draw term loan 180  — 
PPV Intermediate Holdings, LLC First lien senior secured revolving loan 67  — 
Project Power Buyer, LLC (dba PEC-Veriforce) First lien senior secured revolving loan 3,188  3,188 
QAD, Inc. First lien senior secured revolving loan 3,429  3,429 
PS Operating Company LLC (fka QC Supply, LLC) First lien senior secured revolving loan 1,324  2,650 
Quva Pharma, Inc. First lien senior secured revolving loan 2,240  4,000 
Reef Global Acquisition LLC (fka Cheese Acquisition, LLC) First lien senior secured revolving loan —  5,377 
Refresh Parent Holdings, Inc. First lien senior secured delayed draw term loan —  797 
Refresh Parent Holdings, Inc. First lien senior secured revolving loan —  6,897 
Portfolio Company Investment September 30, 2022 December 31, 2021
Relativity ODA LLC First lien senior secured revolving loan 7,333  7,333 
SailPoint Technologies Holdings, Inc. First lien senior secured revolving loan 4,358  — 
Securonix, Inc. First lien senior secured revolving loan 153  — 
SimpliSafe Holding Corporation First lien senior secured delayed draw term loan 772  — 
Smarsh Inc. First lien senior secured delayed draw term loan 190  — 
Smarsh Inc. First lien senior secured revolving loan 48  — 
Sonny's Enterprises LLC First lien senior secured revolving loan 17,969  15,402 
Spotless Brands, LLC First lien senior secured delayed draw term loan 5,637  — 
Spotless Brands, LLC First lien senior secured revolving loan 360  — 
SWK BUYER, Inc. (dba Stonewall Kitchen) First lien senior secured delayed draw term loan 175  — 
SWK BUYER, Inc. (dba Stonewall Kitchen) First lien senior secured revolving loan 17  — 
Swipe Acquisition Corporation (dba PLI) First lien senior secured delayed draw term loan 6,228  10,230 
Swipe Acquisition Corporation (dba PLI) Letter of Credit 7,118  7,118 
Tahoe Finco, LLC First lien senior secured revolving loan 9,244  9,244 
TC Holdings, LLC (dba TrialCard) First lien senior secured revolving loan —  7,685 
Tamarack Intermediate, L.L.C. (dba Verisk 3E) First lien senior secured revolving loan 141  — 
Tempo Buyer Corp. (dba Global Claims Services) First lien senior secured delayed draw term loan 308  308 
Tempo Buyer Corp. (dba Global Claims Services) First lien senior secured revolving loan 145  154 
The Shade Store, LLC First lien senior secured revolving loan 909  909 
THG Acquisition, LLC (dba Hilb) First lien senior secured revolving loan 8,608  8,608 
The NPD Group, L.P. First lien senior secured revolving loan 1,510  — 
Thunder Purchaser, Inc. (dba Vector Solutions) First lien senior secured delayed draw term loan 7,018  10,965 
Thunder Purchaser, Inc. (dba Vector Solutions) First lien senior secured revolving loan 2,522  3,838 
Troon Golf, L.L.C. First lien senior secured revolving loan 21,622  21,621 
Ultimate Baked Goods Midco, LLC First lien senior secured revolving loan 2,984  4,724 
Unified Women's Healthcare, LP First lien senior secured delayed draw term loan 55  — 
Unified Women's Healthcare, LP First lien senior secured revolving loan 88  — 
USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners) First lien senior secured revolving loan 4,239  4,168 
Valence Surface Technologies LLC First lien senior secured revolving loan 49  49 
Velocity HoldCo III Inc. (dba VelocityEHS) First lien senior secured revolving loan 1,340  1,340 
When I Work, Inc. First lien senior secured revolving loan 925  925 
Wingspire Capital Holdings LLC LLC Interest $ 45,855  $ 51,962 
WU Holdco, Inc. (dba Weiman Products, LLC) First lien senior secured delayed draw term loan $ —  $ 14,829 
WU Holdco, Inc. (dba Weiman Products, LLC) First lien senior secured revolving loan $ 9,219  $ 13,444 
Total Unfunded Portfolio Company Commitments $ 970,580  $ 963,808 

As of September 30, 2022, the Company believed they had adequate financial resources to satisfy the unfunded portfolio company commitments.
Other Commitments and Contingencies
On November 3, 2020, the Board approved the 2020 Repurchase Program (the “2020 Repurchase Program”) under which the Company may repurchase up to $100 million of the Company’s outstanding common stock. Under the 2020 Repurchase Program, purchases may be made at management’s discretion from time to time in open-market transactions, in accordance with all applicable securities laws and regulations. Unless extended by the Board, the 2020 Repurchase Program will terminate 12-months from the date
it was approved. On November 2, 2021, the Board approved an extension to the 2020 Repurchase Program for an additional 12-months. As of September 30, 2022, Goldman Sachs & Co., as agent, has repurchased 944,076 shares of the Company’s common stock pursuant to the 2020 Repurchase Program for approximately $12.6 million.
From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. At September 30, 2022, management was not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.