Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Unaudited)

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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets    
Total investments, at fair value $ 3,112,789 $ 2,963,955
Cash and cash equivalents 61,695 15,797
Restricted cash (amounts related to a VIE $12,339 and $10,079, respectively) 12,339 10,079
Interest receivable 32,086 31,682
Right of use asset 3,783 4,986
Other assets 1,812 2,356
Total assets 3,224,504 3,028,855
Liabilities    
Debt (net of debt issuance costs - Note 5; amounts related to a VIE $148,251 and $147,957, respectively) 1,588,608 1,574,351
Accounts payable and accrued liabilities 46,500 47,539
Operating lease liability 3,886 5,506
Total liabilities 1,638,994 1,627,396
Net assets consist of:    
Common stock, par value 145 134
Capital in excess of par value 1,468,270 1,341,416
Total distributable earnings 117,095 59,909
Total net assets 1,585,510 1,401,459
Total liabilities and net assets $ 3,224,504 $ 3,028,855
Shares of common stock outstanding ($0.001 par value and 200,000 authorized) 144,641 133,045
Net asset value per share $ 10.96 $ 10.53
Investment, Unaffiliated Issuer [Member]    
Assets    
Total investments, at fair value $ 3,021,866 $ 2,887,497
Investment, Affiliated Issuer, Controlled [Member]    
Assets    
Total investments, at fair value $ 90,923 [1],[2] $ 76,458 [3]
[1] All of the Company’s control and affiliate investments are Level 3 investments valued using significant unobservable inputs.
[2] In accordance with Rules 3-09, 4-08(g), and Rule 10-01(b)(1) of Regulation S-X, (“Rule 3-09”, “Rule 4-08(g)”, and “Rule 10-01(b)(1)”, respectively), the Company must determine if its unconsolidated subsidiaries are considered “significant subsidiaries”. As of June 30, 2023, there were no unconsolidated subsidiaries that are considered “significant subsidiaries”. As of June 30, 2022, the Hercules Adviser, LLC qualified as a significant subsidiary pursuant to Rule 10-01(b)(1). The total revenue, operating income, and net income were $3.5 million, $(1.9) million, and $(1.8) million for the six months ended June 30, 2022.
[3] All of the Company’s control and affiliate investments are Level 3 investments valued using significant unobservable inputs.