PSBD — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• The weighted average yield of our debt and income producing securities is not the same as a return on investment for our stockholders but, rather, relates to a portion of our investment portfolio and is calculated before the payment of our fees and expenses. There can be no assurance that the weight…

• The Investment Advisor employs an active relative value scoring system to monitor corporate debt and equity investments throughout the life of the investment. Existing positions are assigned a score of 5 to 1 to each position, which is updated on an ongoing basis and the Investment Advisor’s analyst…

• 5. Add Now Where Possible/Outperforming or Compelling Relative Value

• 4. Performing At or Above Plan/Add on Relative Where Applicable

• The following table shows the distribution of our debt and equity investments on the 1 to 5 investment risk rating scale range at fair value as of March 31, 2026 and December 31, 2025:

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• disruptions related to tariffs and other trade or sanctions issues, which may have a material adverse effect on global economic conditions and the stability of global financial markets, and may significantly reduce global trade;

• loss of key personnel, and the illiquid nature of our investments; and

• The following table represents the operating results for the three and nine months ended September 30, 2025 and 2024.

• Net expenses for the three months ended September 30, 2025 were $18.0 million, which consisted of $12.8 million in interest expense, $2.2 million in management fees, $2.0 million in incentive fees, $1.1 million in other operating expenses, and $38 thousand in directors fees. Net expenses for the nin…

• Net expenses for the three months ended September 30, 2024 were $21.6 million, which consisted of $15.7 million in interest expense, $2.4 million in management fees, $2.2 million in incentive fees, $1.2 million in other operating expenses, and $38 thousand in directors fees. Net expenses for the nin…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• Changes to United States tariff and import/export regulations may have a negative effect on our portfolio companies.

• The United States has recently enacted and proposed to enact significant new tariffs. Additionally, there has been ongoing discussion and commentary regarding potential significant changes to U.S. trade policies, treaties and tariffs, creating significant uncertainty about the future relationship be…