HTGC 10-Q Quarter ended March 31, 2021

☒

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

☐

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

Maryland

74-3113410

(State or Jurisdiction of

Incorporation or Organization)

(IRS Employer

Identification Number)

400 Hamilton Ave., Suite 310

Palo Alto, California

(Address of Principal Executive Offices)

94301

(Zip Code)

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares, par value $0.001 per share

HTGC

New York Stock Exchange

5.25% Notes due 2025

HCXZ

New York Stock Exchange

6.25% Notes due 2033

HCXY

New York Stock Exchange

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 a new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

PART I. FINANCIAL INFORMATION

3

Item 1.

Consolidated Financial Statements

3

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

3

Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020 (unaudited)

5

Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2021 and 2020 (unaudited)

6

Consolidated Statements of Cash Flows for the three months ended March 31, 2021 and 2020 (unaudited)

7

Consolidated Schedule of Investments as of March 31, 2021 (unaudited)

8

Consolidated Schedule of Investments as of December 31, 2020

19

Notes to Consolidated Financial Statements (unaudited)

30

Item 2.

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

64

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

81

Item 4.

Controls and Procedures

82

PART II. OTHER INFORMATION

83

Item 1.

Legal Proceedings

83

Item 1A.

Risk Factors

83

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

85

Item 3.

Defaults Upon Senior Securities

85

Item 4.

Mine Safety Disclosures

85

Item 5.

Other Information

85

Item 6.

Exhibits and Financial Statement Schedules

86

SIGNATURES

89

ITEM 1.

CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2021

December 31, 2020

(unaudited)

Assets

Investments, at fair value:

Non-control/Non-affiliate investments (cost of $2,253,503 and $2,175,651, respectively)

$

2,385,998

$

2,288,338

Control investments (cost of $74,849 and $65,257, respectively)

68,693

57,400

Affiliate investments (cost of $75,450 and $74,450, respectively)

9,664

8,340

Total investments, at fair value (cost of $2,403,802 and $2,315,358, respectively)

2,464,355

2,354,078

Cash and cash equivalents

74,987

198,282

Restricted cash

11,829

39,340

Interest receivable

20,597

19,077

Right of use asset

8,666

9,278

Other assets

3,417

3,942

Total assets

$

2,583,851

$

2,623,997

Liabilities

Debt (net of debt issuance costs - Note 5)

$

1,231,298

$

1,286,638

Accounts payable and accrued liabilities

28,300

36,343

Operating lease liability

8,859

9,312

Total liabilities

$

1,268,457

$

1,332,293

Net assets consist of:

Common stock, par value

116

115

Capital in excess of par value

1,160,519

1,158,198

Total distributable earnings

154,759

133,391

Total net assets

$

1,315,394

$

1,291,704

Total liabilities and net assets

$

2,583,851

$

2,623,997

Shares of common stock outstanding ($0.001 par value and 200,000,000 authorized)

115,768

114,726

Net asset value per share

$

11.36

$

11.26

March 31, 2021

December 31, 2020

(Dollars in thousands)

(unaudited)

Assets

Restricted Cash

$

11,829

$

39,340

2027 Asset-Backed Notes, investments in securities, at value (cost of $233,864 and $267,657, respectively)

235,476

269,551

2028 Asset-Backed Notes, investments in securities, at value (cost of $340,592 and $355,236, respectively)

340,620

356,097

Total assets

$

587,925

$

664,988

Liabilities

2027 Asset-Backed Notes, net (principal of $131,545 and $180,988, respectively) ⁽¹⁾

$

130,016

$

178,812

2028 Asset-Backed Notes, net (principal of $221,434 and $250,000, respectively) ⁽¹⁾

219,413

247,647

Total liabilities

$

349,429

$

426,459

(1)

The Company’s 2027 Asset-Backed Notes and the 2028 Asset-Backed Notes are presented net of the associated debt issuance costs. See “Note 5 – Debt”.

Three Months Ended March 31,

2021

2020

Investment income:

Interest income

Non-control/Non-affiliate investments

$

62,982

$

65,338

Control investments

799

646

Affiliate investments

1

220

Total interest income

63,782

66,204

Fee income

Commitment, facility and loan fee income

Non-control/Non-affiliate investments

3,403

4,196

Control investments

8

5

Affiliate investments

—

—

Total commitment, facility and loan fee income

3,411

4,201

One-time fee income

Non-control/Non-affiliate investments

1,566

3,214

Total one-time fee income

1,566

3,214

Total fee income

4,977

7,415

Total investment income

68,759

73,619

Operating expenses:

Interest

14,750

14,532

Loan fees

2,800

1,794

General and administrative

Legal expenses

428

899

Tax expenses

1,438

1,135

Other expenses

3,168

4,025

Total general and administrative

5,034

6,059

Employee compensation

Compensation and benefits

9,804

8,214

Stock-based compensation

2,744

2,440

Total employee compensation

12,548

10,654

Total gross operating expenses

35,132

33,039

Expenses allocated to the Adviser Subsidiary

(933

)

—

Total net operating expenses

34,199

33,039

Net investment income

34,560

40,580

Net realized and change in unrealized appreciation (depreciation) on investments:

Net realized gain (loss) on investments

Non-control/Non-affiliate investments

7,770

6,967

Control investments

—

—

Affiliate investments

—

—

Total net realized gain (loss) on investments

7,770

6,967

Net change in unrealized appreciation (depreciation) on investments

Non-control/Non-affiliate investments

18,022

(58,430

)

Control investments

1,702

(7,851

)

Affiliate investments

2,109

(9,989

)

Total net change in unrealized appreciation (depreciation) on investments

21,833

(76,270

)

Total net realized and change in unrealized appreciation (depreciation) on investments:

29,603

(69,303

)

Net increase (decrease) in net assets resulting from operations

$

64,163

$

(28,723

)

Net investment income before investment gains and losses per common share:

Basic

$

0.30

$

0.37

Change in net assets resulting from operations per common share:

Basic

$

0.56

$

(0.27

)

Diluted

$

0.55

$

(0.27

)

Weighted average shares outstanding

Basic

114,304

108,955

Diluted

114,803

108,955

Distributions paid per common share:

Basic

$

0.37

$

0.40

Capital in

Distributable

Common Stock

excess

Earnings

Net

For the Three Months Ended March 31, 2021

Shares

Par Value

of par value

(loss)

Assets

Balance as of December 31, 2020

114,726

$

115

$

1,158,198

$

133,391

$

1,291,704

Net increase (decrease) in net assets resulting from operations

—

—

—

64,163

64,163

Public offering, net of offering expenses

—

—

(195

)

—

(195

)

Issuance of common stock due to stock option exercises

222

—

2,745

—

2,745

Retired shares from net issuance

(50

)

—

(603

)

—

(603

)

Issuance of common stock under restricted stock plan

924

1

(1

)

—

—

Retired shares for restricted stock vesting

(121

)

—

(3,181

)

—

(3,181

)

Distributions reinvested in common stock

67

—

1,040

—

1,040

Distributions

—

—

—

(42,795

)

(42,795

)

Stock-based compensation ⁽¹⁾

—

—

2,516

—

2,516

Balance as of March 31, 2021

115,768

$

116

$

1,160,519

$

154,759

$

1,315,394

(1)

Stock-based compensation includes $25 of restricted stock and option expense related to director compensation for the three months ended March 31, 2021.

Capital in

Distributable

Common Stock

excess

Earnings

Net

For the Three Months Ended March 31, 2020

Shares

Par Value

of par value

(loss)

Assets

Balance as of December 31, 2019

107,364

$

108

$

1,145,106

$

(12,165

)

$

1,133,049

Net increase (decrease) in net assets resulting from operations

—

—

—

(28,723

)

(28,723

)

Public offering, net of offering expenses

2,441

2

34,960

—

34,962

Issuance of common stock due to stock option exercises

29

—

362

—

362

Retired shares from net issuance

(24

)

—

(376

)

—

(376

)

Issuance of common stock under restricted stock plan

749

1

(1

)

—

—

Retired shares for restricted stock vesting

(17

)

—

(880

)

—

(880

)

Distributions reinvested in common stock

59

—

827

—

827

Distributions

—

—

—

(44,223

)

(44,223

)

Stock-based compensation ⁽¹⁾

—

—

2,082

—

2,082

Balance as of March 31, 2020

110,601

$

111

$

1,182,080

$

(85,111

)

$

1,097,080

(1)

Stock-based compensation includes $21 of restricted stock and option expense related to director compensation for the three months ended March 31, 2020.

For the Three Months Ended March 31,

2021

2020

Cash flows from operating activities:

Net increase (decrease) in net assets resulting from operations

$

64,163

$

(28,723

)

Adjustments to reconcile net increase (decrease) in net assets resulting from

operations to net cash provided by (used in) operating activities:

Purchases of investments

(355,333

)

(233,612

)

Purchases assigned to External Funds

48,353

—

Principal and fee payments received on investments

209,747

167,511

Proceeds from the sale of investments

12,973

17,076

Net unrealized (appreciation) depreciation on investments

(21,833

)

76,270

Net realized (gain) loss on investments

(7,770

)

(6,967

)

Accretion of paid-in-kind principal

(2,475

)

(2,130

)

Accretion of loan discounts

(1,176

)

(1,147

)

Accretion of loan discount on convertible notes

168

168

Accretion of loan exit fees

(5,744

)

(6,265

)

Change in deferred loan origination revenue

13,414

1,319

Unearned fees related to unfunded commitments

(1,505

)

(463

)

Amortization of debt fees and issuance costs

2,156

1,332

Depreciation

94

126

Stock-based compensation and amortization of restricted stock grants ⁽¹⁾

2,516

2,082

Change in operating assets and liabilities:

Interest receivable

(1,520

)

1,070

Other assets

1,849

(4,100

)

Accounts payable

—

(16

)

Accrued liabilities

(8,496

)

(8,233

)

Net cash used in operating activities

(50,419

)

(24,702

)

Cash flows from investing activities:

Purchases of capital equipment

(12

)

(29

)

Net cash used in investing activities

(12

)

(29

)

Cash flows from financing activities:

Issuance of common stock, net

(195

)

34,962

Retirement of employee shares

(1,039

)

(895

)

Distributions paid

(41,755

)

(43,396

)

Issuance of debt

342,218

292,026

Repayments of debt

(397,727

)

(313,569

)

Debt issuance costs

(1,842

)

(618

)

Fees paid for credit facilities and debentures

(35

)

(2,433

)

Net cash used in financing activities

(100,375

)

(33,923

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(150,806

)

(58,654

)

Cash, cash equivalents, and restricted cash at beginning of period

237,622

114,996

Cash, cash equivalents, and restricted cash at end of period

$

86,816

$

56,342

Supplemental disclosures of cash flow information and non-cash investing and financing activities:

Interest paid

$

17,359

$

17,491

Income tax, including excise tax, paid

$

3,488

$

2,309

Distributions reinvested

$

1,040

$

827

(1)

Stock-based compensation includes $25 and $21 of restricted stock and option expense related to director compensation for the three months ended March 31, 2021 and 2020, respectively.

For the Three Months Ended March 31,

(Dollars in thousands)

2021

2020

Cash and cash equivalents

$

74,987

$

34,282

Restricted cash

11,829

22,060

Total cash, cash equivalents, and restricted cash presented in the Consolidated Statements of Cash Flows

$

86,816

$

56,342

Portfolio Company

Sub-Industry

Type of

Investment ⁽¹⁾

Maturity Date

Interest Rate and Floor ⁽²⁾

Principal

Amount

Cost ⁽³⁾

Value ⁽⁴⁾

Debt Investments

Communications & Networking

1-5 Years Maturity

Cytracom Holdings LLC ^(11)(17)(18)

Communications & Networking

Senior Secured

February 2025

Interest rate 3-month LIBOR + 9.25% or Floor rate of 10.25%

$

7,000

$

6,828

$

7,000

Subtotal: 1-5 Years Maturity

6,828

7,000

Subtotal: Communications & Networking (0.53%)*

6,828

7,000

Diversified Financial Services

Greater than 5 Years Maturity

Gibraltar Business Capital, LLC ⁽⁷⁾

Diversified Financial Services

Unsecured

September 2026

Interest rate FIXED 14.50%

$

15,000

14,628

14,112

Diversified Financial Services

Unsecured

September 2026

Interest rate FIXED 11.50%

$

10,000

9,802

9,802

Total Gibraltar Business Capital, LLC

$

25,000

24,430

23,914

Subtotal: Greater than 5 Years Maturity

24,430

23,914

Subtotal: Diversified Financial Services (1.82%)*

24,430

23,914

Drug Delivery

1-5 Years Maturity

Antares Pharma Inc. ^(10)(11)(15)

Drug Delivery

Senior Secured

July 2022

Interest rate PRIME + 4.50% or Floor rate of 8.50%, 4.14% Exit Fee

$

40,000

41,229

41,522

Subtotal: 1-5 Years Maturity

41,229

41,522

Subtotal: Drug Delivery (3.16%)*

41,229

41,522

Drug Discovery & Development

Under 1 Year Maturity

Acacia Pharma Inc. ^(5)(10)(11)

Drug Discovery & Development

Senior Secured

January 2022

Interest rate PRIME + 4.50% or Floor rate of 9.25%, 3.95% Exit Fee

$

4,245

4,597

4,597

Mesoblast ^{(5)(10)(11)(13)}

Drug Discovery & Development

Senior Secured

March 2022

Interest rate PRIME + 4.95% or Floor rate of 9.70%, 9.30% Exit Fee

$

50,000

53,541

53,541

Petros Pharmaceuticals, Inc. (p.k.a. Metuchen Pharmaceuticals LLC)

Drug Discovery & Development

Senior Secured

December 2021

Interest rate PRIME + 7.25% or Floor rate of 11.50%, 3.05% Exit Fee

$

5,061

5,054

5,054

Stealth Bio Therapeutics Corp. ^(10)(11)

Drug Discovery & Development

Senior Secured

July 2021

Interest rate PRIME + 5.50% or Floor rate of 9.50%, 7.69% Exit Fee

$

7,245

7,416

7,416

TG Therapeutics, Inc. ^(10)(13)

Drug Discovery & Development

Senior Secured

March 2022

Interest rate PRIME + 4.75% or Floor rate of 10.25%, 3.25% Exit Fee

$

30,000

30,609

30,609

Subtotal: Under 1 Year Maturity

101,217

101,217

1-5 Years Maturity

Albireo Pharma, Inc. ^(10)(11)(17)

Drug Discovery & Development

Senior Secured

July 2024

Interest rate PRIME + 5.90% or Floor rate of 9.15%, 6.95% Exit Fee

$

10,000

10,054

10,291

Aldeyra Therapeutics, Inc. ⁽¹¹⁾

Drug Discovery & Development

Senior Secured

October 2023

Interest rate PRIME + 3.10% or Floor rate of 9.10%, 6.95% Exit Fee

$

15,000

15,450

15,852

Applied Genetic Technologies Corporation ⁽¹¹⁾

Drug Discovery & Development

Senior Secured

December 2023

Interest rate PRIME + 6.50% or Floor rate of 9.75%, 6.95% Exit Fee

$

10,000

10,100

10,325

Aveo Pharmaceuticals, Inc. ^(11)(15)

Drug Discovery & Development

Senior Secured

September 2023

Interest rate PRIME + 6.40% or Floor rate of 9.65%, 6.95% Exit Fee

$

35,000

35,056

35,119

Axsome Therapeutics, Inc. ^(10)(17)

Drug Discovery & Development

Senior Secured

October 2025

Interest rate PRIME + 5.90% or Floor rate of 9.15%, 4.85% Exit Fee

$

50,000

49,216

51,355

Bicycle Therapeutics PLC ^(5)(10)(11)

Drug Discovery & Development

Senior Secured

October 2024

Interest rate PRIME + 5.60% or Floor rate of 8.85%, 5.00% Exit Fee

$

24,000

24,003

23,907

BridgeBio Pharma LLC ^(12)(13)(16)

Drug Discovery & Development

Senior Secured

November 2023

Interest rate PRIME + 3.85% or Floor rate of 8.75%, 6.35% Exit Fee

$

35,000

36,271

37,408

Drug Discovery & Development

Senior Secured

November 2023

Interest rate PRIME + 2.85% or Floor rate of 8.60%, 5.75% Exit Fee

$

20,000

20,603

21,248

Drug Discovery & Development

Senior Secured

November 2023

Interest rate PRIME + 3.10% or Floor rate of 8.85%, 5.75% Exit Fee

$

20,000

20,476

21,107

Total BridgeBio Pharma LLC

$

75,000

77,350

79,763

Century Therapeutics ⁽¹¹⁾

Drug Discovery & Development

Senior Secured

April 2024

Interest rate PRIME + 6.30% or Floor rate of 9.55%, 3.95% Exit Fee

$

10,000

9,939

10,328

Chemocentryx, Inc. ^(10)(11)(15)

Drug Discovery & Development

Senior Secured

December 2022

Interest rate PRIME + 3.30% or Floor rate of 8.05%, 6.25% Exit Fee

$

20,000

20,809

21,198

Drug Discovery & Development

Senior Secured

February 2024

Interest rate PRIME + 3.25% or Floor rate of 8.50%, 7.15% Exit Fee

$

5,000

5,068

5,406

Total Chemocentryx, Inc.

$

25,000

25,877

26,604

Codiak Biosciences, Inc. ^(11)(17)

Drug Discovery & Development

Senior Secured

October 2024

Interest rate PRIME + 3.75% or Floor rate of 9.00%, 5.50% Exit Fee

$

25,000

25,204

25,213

Dermavant Sciences Ltd. ^(10)(13)

Drug Discovery & Development

Senior Secured

June 2023

Interest rate PRIME + 4.45% or Floor rate of 9.95%, 6.95% Exit Fee

$

20,000

20,717

20,644

Eidos Therapeutics, Inc. ^(10)(13)

Drug Discovery & Development

Senior Secured

October 2023

Interest rate PRIME + 3.25% or Floor rate of 8.50%, 5.95% Exit Fee

$

8,750

8,952

8,952

G1 Therapeutics, Inc. ^(10)(11)

Drug Discovery & Development

Senior Secured

June 2025

Interest rate PRIME + 6.20% or Floor rate of 9.45%, 6.95% Exit Fee

$

26,000

26,096

26,211

Geron Corporation ^(10)(17)

Drug Discovery & Development

Senior Secured

October 2024

Interest rate PRIME + 5.75% or Floor rate of 9.00%, 6.55% Exit Fee

$

16,250

16,245

16,893

Portfolio Company

Sub-Industry

Type of

Investment ⁽¹⁾

Maturity Date

Interest Rate and Floor ⁽²⁾

Principal

Amount

Cost ⁽³⁾

Value ⁽⁴⁾

Humanigen, Inc. ^(9)(10)

Drug Discovery & Development

Senior Secured

March 2025

Interest rate PRIME + 5.50% or Floor rate of 8.75%, 6.75% Exit Fee

$

20,000

$

19,917

$

19,917

Kaleido Biosciences, Inc. ⁽¹³⁾

Drug Discovery & Development

Senior Secured

January 2024

Interest rate PRIME + 6.10% or Floor rate of 9.35%, 7.55% Exit Fee

$

22,500

23,074

23,476

Nabriva Therapeutics ^(5)(10)

Drug Discovery & Development

Senior Secured

June 2023

Interest rate PRIME + 4.30% or Floor rate of 9.80%, 9.95% Exit Fee

$

5,000

5,326

5,350

Seres Therapeutics, Inc. ⁽¹¹⁾

Drug Discovery & Development

Senior Secured

November 2023

Interest rate PRIME + 4.40% or Floor rate of 9.65%, 4.85% Exit Fee

$

25,000

25,354

26,277

Syndax Pharmaceutics Inc. ⁽¹³⁾

Drug Discovery & Development

Senior Secured

September 2023

Interest rate PRIME + 5.10% or Floor rate of 9.85%, 4.99% Exit Fee

$

20,000

20,322

20,818

uniQure B.V. ^{(5)(10)(11)(16)(17)}

Drug Discovery & Development

Senior Secured

June 2023

Interest rate PRIME + 3.35% or Floor rate of 8.85%, 4.95% Exit Fee

$

35,000

35,771

35,830

Drug Discovery & Development

Senior Secured

June 2023

Interest rate PRIME + 5.00% or Floor rate of 8.25%, 4.85% Exit Fee

$

35,000

34,995

34,995

Total uniQure B.V.

$

70,000

70,766

70,825

Unity Biotechnology, Inc. ^(10)(11)

Drug Discovery & Development

Senior Secured

August 2024

Interest rate PRIME + 6.10% or Floor rate of 9.35%, 6.25% Exit Fee

$

25,000

25,068

25,866

Valo Health, LLC (p.k.a. Integral Health Holdings, LLC) ⁽¹¹⁾

Drug Discovery & Development

Senior Secured

May 2024

Interest rate PRIME + 6.45% or Floor rate of 9.70%, 3.85% Exit Fee

$

11,500

11,354

11,412

X4 Pharmaceuticals, Inc. ^(11)(13)

Drug Discovery & Development

Senior Secured

July 2024

Interest rate PRIME + 3.75% or Floor rate of 8.75%, 8.80% Exit Fee

$

32,500

33,340

33,800

Yumanity Therapeutics, Inc. ⁽¹¹⁾

Drug Discovery & Development

Senior Secured

January 2024

Interest rate PRIME + 4.00% or Floor rate of 8.75%, 5.92% Exit Fee

$

15,000

15,247

15,583

Subtotal: 1-5 Years Maturity

604,027

614,781

Subtotal: Drug Discovery & Development (54.43%)*

705,244

715,998

Healthcare Services, Other

1-5 Years Maturity

Carbon Health Technologies, Inc. ^(17)(19)

Healthcare Services, Other

Senior Secured

March 2025

Interest rate PRIME + 5.60% or Floor rate of 8.85%, 3.95% Exit Fee

$

11,250

11,162

11,162

Equality Health, LLC ^(14)(17)

Healthcare Services, Other

Senior Secured

February 2026

Interest rate PRIME + 6.25% or Floor rate of 9.50%, PIK Interest 1.55%

$

35,018

34,659

34,659

The CM Group LLC ^(11)(17)

Healthcare Services, Other

Senior Secured

June 2024

Interest rate 1-month LIBOR + 9.35% or Floor rate of 10.35%

$

9,310

9,189

9,240

Healthcare Services, Other

Senior Secured

June 2024

Interest rate 3-month LIBOR + 9.35% or Floor rate of 10.35%

$

1,000

1,000

1,000

Total The CM Group LLC

$

10,310

10,189

10,240

Velocity Clinical Research, Inc. ^(13)(17)(18)

Healthcare Services, Other

Senior Secured

November 2024

Interest rate 1-month LIBOR + 9.08% or Floor rate of 10.08%

$

9,823

9,529

9,921

Subtotal: 1-5 Years Maturity

65,539

65,982

Subtotal: Healthcare Services, Other (5.02%)*

65,539

65,982

Information Services

1-5 Years Maturity

Planet Labs, Inc. ⁽¹¹⁾

Information Services

Senior Secured

June 2022

Interest rate PRIME + 5.50% or Floor rate of 11.00%, 3.00% Exit Fee

$

25,000

25,034

25,174

Yipit, LLC ^(11)(17)(18)

Information Services

Senior Secured

May 2024

Interest rate 1-month LIBOR + 8.88% or Floor rate of 9.88%

$

12,000

11,796

12,000

Subtotal: 1-5 Years Maturity

36,830

37,174

Subtotal: Information Services (2.83%)*

36,830

37,174

Internet Consumer & Business Services

Under 1 Year Maturity

Intent (p.k.a. Intent Media, Inc.) ^(8)(14)

Internet Consumer & Business Services

Senior Secured

September 2021

PIK Interest 10.13%, 1.20% Exit Fee

$

2,637

2,662

192

Snagajob.com, Inc. ⁽¹³⁾

Internet Consumer & Business Services

Senior Secured

October 2021

Interest rate PRIME + 6.90% or Floor rate of 10.15%, 3.05% Exit Fee

$

43,005

43,934

43,483

Internet Consumer & Business Services

Senior Secured

October 2021

Interest rate PRIME + 7.80% or Floor rate of 11.05%, 3.05% Exit Fee

$

5,173

5,288

5,232

Total Snagajob.com, Inc.

$

48,178

49,222

48,715

Tectura Corporation ^(7)(8)(14)

Internet Consumer & Business Services

Senior Secured

May 2021

PIK Interest 5.00%

$

10,680

240

—

Internet Consumer & Business Services

Senior Secured

May 2021

Interest rate FIXED 8.25%

$

8,250

8,250

8,250

Internet Consumer & Business Services