MidCap Financial lists loans maturing in 2027 and 2032
The listed investments include loan-specific rate floors and maturities, as well as equity interests and foreign-currency forward contracts.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
MidCap Financial Investment Corp. (MFIC) lists investments in first-lien term loans, revolvers and delayed-draw facilities, alongside preferred and common equity, membership interests, warrants and foreign-currency forward contracts. Loan entries include borrower-specific rate spreads, interest-rate floors and maturity dates; some also state cash interest plus payment-in-kind (PIK) interest.
Examples include mPulse Mobile, Inc.'s delayed-draw first-lien loan at SOFR+475, with a 0.75% floor and maturity on August 26, 2032; Paladone Group Bidco Limited's revolver at SOFR+585, with a 1.00% floor and maturity on November 12, 2027; and Lash OpCo, LLC's revolver at SOFR+500 plus 2.00% PIK, with a 1.00% floor and maturity on September 17, 2027.
Key Figures
Key Terms
First Lien Secured Debt financial
Delayed Draw financial
PIK financial
Revolver financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Which MFIC loans have cash-plus-PIK interest terms?
AI-generated analysis. How Rhea-AI works. Not financial advice.
Table of Contents
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
For the quarterly period ended
OR
Commission File Number:
(Exact name of Registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
(Address of principal executive offices) |
(Zip Code) |
(
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading symbol(s) |
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Name of each exchange on which registered |
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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.
Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files).
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or 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.
x |
Accelerated filer |
¨ |
Non-accelerated filer |
¨ |
Smaller reporting company |
Emerging growth company |
(Do not check if a smaller reporting 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
As of November 4, 2026, the Registrant had
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Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
Table of Contents
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PART I. FINANCIAL INFORMATION |
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Item 1. |
Consolidated Financial Statements |
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Consolidated Statements of Assets and Liabilities as of |
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Consolidated Statements of Operations for the |
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Consolidated Statements of Changes in Net Assets for the |
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Consolidated Statements of Cash Flows for the |
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Consolidated Schedule of Investments as of September 30, 2026 (Unaudited) |
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Consolidated Schedule of Investments as of December 31, 2025 |
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Notes to Consolidated Financial Statements (Unaudited) |
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Report of Independent Registered Public Accounting Firm |
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Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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Item 3. |
Quantitative and Qualitative Disclosures About Market Risk |
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Item 4. |
Controls and Procedures |
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PART II. OTHER INFORMATION |
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Item 1. |
Legal Proceedings |
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Risk Factors |
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Item 2. |
Unregistered Sales of Equity Securities and Use of Proceeds |
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Item 3. |
Defaults Upon Senior Securities |
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Item 4. |
Mine Safety Disclosures |
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Item 5. |
Other Information |
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Item 6. |
Exhibits |
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Signatures |
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Table of Contents
PART I. FINANCIAL INFORMATION
In this report, the terms the “Company,” “we,” “us,” and “our” refer to MidCap Financial Investment Corporation unless the context specifically states otherwise.
Item 1. Consolidated Financial Statements
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(In thousands, except share and per share data)
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September 30, 2026 |
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December 31, 2025 |
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Assets |
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Investments at fair value: |
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Non-controlled/non-affiliated investments (cost — $ |
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Controlled investments (cost — $ |
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Cash and cash equivalents |
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Foreign currencies (cost — $ |
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Receivable for investments sold |
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Interest receivable |
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Dividends receivable |
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Deferred financing costs |
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Unrealized appreciation on foreign currency forward contracts |
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Prepaid expenses and other assets |
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Total Assets |
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Liabilities |
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Debt (net of deferred financing costs and unamortized original discount of $ |
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Payable for investments purchased |
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Management fees payable |
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Interest payable |
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Other liabilities and accrued expenses |
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Total Liabilities |
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$ |
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Commitments and contingencies (Note 8) |
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Net Assets |
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$ |
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$ |
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Net Assets |
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Common stock, $ |
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Capital in excess of par value |
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Accumulated under-distributed (over-distributed) earnings |
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Net Assets |
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$ |
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Net Asset Value Per Share |
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See notes to the consolidated financial statements.
1
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In thousands, except per share data)
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Investment Income |
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Non-controlled/non-affiliated investments: |
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Interest income (excluding Payment-in-kind (“PIK”) interest income) |
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$ |
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$ |
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Dividend income |
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— |
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— |
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— |
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PIK interest income |
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Other income |
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Non-controlled/affiliated investments: |
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Interest income (excluding PIK interest income) |
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Dividend income |
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PIK interest income |
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Other income |
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— |
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— |
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Controlled investments: |
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Interest income (excluding PIK interest income) |
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Other income |
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— |
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— |
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— |
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Total Investment Income |
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$ |
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$ |
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$ |
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$ |
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Expenses |
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Management fees |
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$ |
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$ |
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$ |
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$ |
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Performance-based incentive fees |
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— |
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— |
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Interest and other debt expenses |
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Administrative services expense |
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Other general and administrative expenses |
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Total expenses |
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Expense reimbursements |
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( |
) |
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( |
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( |
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( |
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Net Expenses |
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$ |
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$ |
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$ |
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$ |
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Net Investment Income |
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$ |
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$ |
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$ |
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$ |
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Net Realized and Change in Unrealized Gains (Losses) |
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Net realized gains (losses): |
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Non-controlled/non-affiliated investments |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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Non-controlled/affiliated investments |
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( |
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( |
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( |
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( |
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Controlled investments |
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( |
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— |
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( |
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— |
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Foreign currency forward contracts |
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( |
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— |
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( |
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Foreign currency transactions |
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( |
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( |
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( |
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Net realized gains (losses) |
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( |
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( |
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( |
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( |
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Net change in unrealized gains (losses): |
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Non-controlled/non-affiliated investments |
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( |
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( |
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( |
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Non-controlled/affiliated investments |
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( |
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( |
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( |
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( |
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Controlled investments |
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( |
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( |
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Foreign currency forward contracts |
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— |
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( |
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Foreign currency translations |
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Net change in unrealized gains (losses) |
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( |
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Net Realized and Change in Unrealized Gains (Losses) |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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Net Increase (Decrease) in Net Assets Resulting from Operations |
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$ |
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( |
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$ |
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$ |
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( |
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$ |
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Earnings (Loss) Per Share — Basic |
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$ |
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( |
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$ |
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$ |
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( |
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$ |
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See notes to the consolidated financial statements.
2
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)
(In thousands, except share data)
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Operations |
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Net investment income |
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$ |
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Net realized gains (losses) |
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Net change in unrealized gains (losses) |
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Net Increase (Decrease) in Net Assets Resulting from Operations |
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$ |
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( |
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$ |
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$ |
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(60,811 |
) |
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$ |
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Distributions to Stockholders |
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Distribution of net investment income |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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Net Decrease in Net Assets Resulting from Distributions to Stockholders |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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Capital Share Transactions |
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Repurchase of common stock |
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$ |
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$ |
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$ |
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( |
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Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions |
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$ |
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$ |
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$ |
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( |
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( |
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Net Assets |
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Net increase (decrease) in net assets during the period |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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$ |
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( |
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Net assets at beginning of period |
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Net Assets at End of Period |
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$ |
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$ |
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Capital Share Activity |
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Shares repurchased during the period |
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Shares issued and outstanding at beginning of period |
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Shares Issued and Outstanding at End of Period |
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See notes to the consolidated financial statements.
3
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In thousands)
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Nine Months Ended September 30, |
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2026 |
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2025 |
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Operating Activities |
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Net increase (decrease) in net assets resulting from operations |
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$ |
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( |
) |
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$ |
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Net realized (gains) losses on investments |
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Net change in unrealized (gains) losses |
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( |
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Net amortization of premiums and accretion of discounts on investments |
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( |
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( |
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Accretion of discount on notes |
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Amortization of deferred financing costs |
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||
PIK interest and dividends capitalized |
|
|
|
( |
) |
|
|
|
( |
) |
Purchases of investments |
|
|
|
( |
) |
|
|
|
( |
) |
Proceeds from sales and repayments of investments |
|
|
|
|
|
|
|
|
||
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
||
Decrease (increase) in interest receivable |
|
|
|
|
|
|
|
( |
) |
|
Decrease (increase) in dividends receivable |
|
|
|
|
|
|
|
|
||
Decrease (increase) in prepaid expenses and other assets |
|
|
|
|
|
|
|
( |
) |
|
Increase (decrease) in management and performance-based incentive fees payable |
|
|
|
( |
) |
|
|
|
|
|
Increase (decrease) in interest payable |
|
|
|
( |
) |
|
|
|
( |
) |
Increase (decrease) in accrued administrative services expense |
|
|
|
|
|
|
|
( |
) |
|
Increase (decrease) in other liabilities and accrued expenses |
|
|
|
|
|
|
|
( |
) |
|
Net Cash (Used in)/Provided by Operating Activities |
|
$ |
|
|
|
$ |
|
( |
) |
|
Financing Activities |
|
|
|
|
|
|
|
|
||
Issuances of debt |
|
$ |
|
|
|
$ |
|
|
||
Payments of debt |
|
|
|
( |
) |
|
|
|
( |
) |
Financing costs paid and deferred |
|
|
|
( |
) |
|
|
|
||
Repurchase of common stock |
|
|
|
( |
) |
|
|
|
( |
) |
Distributions paid |
|
|
|
( |
) |
|
|
|
( |
) |
Net Cash (Used in)/Provided by Financing Activities |
|
$ |
|
( |
) |
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
||
Cash, Cash Equivalents and Foreign Currencies |
|
|
|
|
|
|
|
|
||
Net increase (decrease) in cash, cash equivalents and foreign currencies during the period |
|
$ |
|
( |
) |
|
$ |
|
( |
) |
Effect of foreign exchange rate changes on cash and cash equivalents |
|
|
|
( |
) |
|
|
|
|
|
Cash, cash equivalents and foreign currencies at beginning of period |
|
|
|
|
|
|
|
|
||
Cash, Cash Equivalents and Foreign Currencies at the End of Period |
|
$ |
|
|
|
$ |
|
|
||
|
|
|
|
|
|
|
|
|
||
Supplemental Disclosure of Cash Flow Information |
|
|
|
|
|
|
|
|
||
Cash interest paid |
|
$ |
|
|
|
$ |
|
|
||
|
|
|
|
|
|
|
|
|
||
Supplemental Disclosure of Non-Cash Activity |
|
|
|
|
|
|
|
|
||
PIK income |
|
$ |
|
|
|
$ |
|
|
||
See notes to the consolidated financial statements.
4
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Aerospace & Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Beaufort |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Eagle Aggregator Ltd |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(13)(15)(19) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(15)(19) |
||||
Eagle U.S. Purchaser, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(16) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Sperry Acquisition, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Sperry Acquisition, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
Sperry Parent Holdings, L.P. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Aerospace & Defense |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Air Freight & Logistics |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Primeflight |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PrimeFlight Acquisition, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
|
|
Total Air Freight & Logistics |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Automobile Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
K&N Parent, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
K&N Holdco, LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
(13) |
||||
See notes to the consolidated financial statements.
5
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Truck-Lite Co., LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Truck-Lite Co., LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Universal Air Conditioner |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cool Acquisition Holdings, LP |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Cool Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Automobile Components |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Beverages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ronnoco Coffee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ronnoco Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13) |
||
|
|
|
|
Total Beverages |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Biotechnology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Mannkind Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Mannkind Corporation |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
$ |
|
— |
|
|
$ |
|
|
|
(9)(10)(13)(15) |
|||
Partner Therapeutics, Inc |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Partner Therapeutics, Inc |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
Warrants - Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Biotechnology |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
6
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Decks & Docks |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
D&D Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
RF Fager |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
R.F. Fager Company, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Building Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Chemicals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Aspen Aerogels, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Aspen Aerogels, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(15)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Carbonfree Chemicals SPE I LLC (f/k/a Maxus Capital Carbon SPE I LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Carbonfree Chemicals Holdings LLC (4) |
|
Common Equity - Common Equity / Interest |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(19)(31) |
||||
FC2 LLC (4) |
|
Secured Debt - Promissory Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(13)(19) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Heubach |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Heubach Holdings USA LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14)(15) |
|||||
SK Neptune Husky Group Sarl (Luxembourg Investment Company 428 S.a r.l.) |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
(14)(15) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Meristem Crop Performance |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Lunar Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Chemicals |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
7
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Atlas Technical Consultants |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
GI Apple Midco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Best Trash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Bingo Group Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CARDS + Live Oak |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CARDS-Live Oak Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CoreTrust |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Coretrust Purchasing Group LLC (HPG Enterprises LLC) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Flatworld Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Flatworld Intermediate Corp |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
See notes to the consolidated financial statements.
8
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
HMA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Health Management Associates Superholdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
IronClad |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Mersino, Inc. (fka Ironhorse Purchaser, LLC) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
IRP |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Precision Refrigeration & Air Conditioning LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
SMC IR Holdings, LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Jacent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Jacent Strategic Merchandising, LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
JSM Equity Investors, L.P. |
|
Preferred Equity - Class P Partnership Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Overhaul Group, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Overhaul Group, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(18) |
|
|
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Pavement Preservation |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Pavement Preservation Acquisition, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
9
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Smith System |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Smith Topco, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Vixxo |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Vixxo Corporation |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
|
|
Total Commercial Services & Supplies |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Communications Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
MCA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Mobile Communications America, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Mitel Networks |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Mitel Networks (International) Limited |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(10)(13)(15) |
||||
MLN US Holdco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(10)(15)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Sorenson Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Sorenson Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14) |
|||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14) |
|||||
|
|
Common Equity - Membership Interests |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Communications Equipment |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Construction & Engineering |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
American Restoration |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
American Restoration Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
10
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Core Roofing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CRS Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Dynagrid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Megavolt Borrower, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
Traffic Management Solutions, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Traffic Management Solutions, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Trench Plate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Trench Plate Rental Co. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
Trench Safety Solutions Holdings, LLC |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Construction & Engineering |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
11
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Consumer Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Lending Point |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
LendingPoint 2018-1 Funding Trust |
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
LendingPoint Consolidated, Inc. |
|
Preferred Equity - Preferred Equity Class A Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
Preferred Equity - Preferred Equity Class A1 Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
Preferred Equity - Preferred Equity Class B3 Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
Preferred Equity - Preferred Equity Class B2 Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
Preferred Equity - Preferred Equity Class B1 Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
LendingPoint LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
Unsecured Debt - Term Loan |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
US Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Auto Pool 2023 Trust (Del. Stat. Trust) (4) |
|
Structured Products and Other - Membership Interests |
|
N/A |
|
N/A |
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
(9)(13)(32) |
|||
|
|
|
|
Total Consumer Finance |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Consumer Staples Distribution & Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
3D Protein |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Protein For Pets Opco, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Metz Culinary |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Metz Culinary Management, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
12
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Turkey Hill |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
IC Holdings LLC |
|
Common Equity - Series A Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||
THLP CO., LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Consumer Staples Distribution & Retail |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Containers & Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ACP Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ACP Packaging Intermediateco, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Berry Tapes & Adhesives |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Vybond Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ePac Flexible Packaging |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ePac Holdings LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
CORRA+ |
|
|
C$ |
|
|
|
|
|
|
|
|
|
|
|
(9)(26) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
MSI Express, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
NCP-MSI Buyer |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
13
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Truvant |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
NPPI Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Containers & Packaging |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Diversified Consumer Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Accelerate Learning |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Eagle Purchaser, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Clarus Commerce |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Marlin DTC-LS Midco 2, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Elase Med Spas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Birch Group of Clinics Acquireco Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
P+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Excelligence |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Excelligence Learning Corporation |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Gateway Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Gateway US Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
14
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Go Car Wash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Go Car Wash Management Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
Go Car Wash Management, Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Legacy.com |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Lotus Topco Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Mariani |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CI (MG) GROUP, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(24) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Regis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Regis Corporation |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
SEV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
SEV Intermediate Holdco, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Team Car Wash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
TCW Midco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
15
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Ultra Clean Newco |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ultra Clean Holdco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
US Legal Support |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
US Legal Support Investment Holdings, LLC |
|
Common Equity - Series A-1 Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
USLS Acquisition, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Village Pet Care |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Village Pet Care, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Diversified Consumer Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Diversified Telecommunication Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cablevision Systems |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CSC Holdings, LLC |
|
First Lien Secured Debt - Revolver |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(14)(15)(16) |
|||||
|
|
Unsecured Debt - Corporate Bond |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10)(14)(15) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
US Telepacific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
U.S. TelePacific Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(15)(23) |
||||
|
|
|
|
Total Diversified Telecommunication Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
16
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Electrical Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Brush Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Brush Group Bidco Limited |
|
First Lien Secured Debt - Term Loan |
|
SON+ |
|
|
£ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(15)(21) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SON+ |
|
|
£ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
International Wire Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
IW Buyer LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(16)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Kauffman |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Kauffman Blocker Topco, LLC (4) |
|
Common Equity - Membership Interests |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||
Kauffman Engineering Holdings, LLC (4) |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
Kauffman Intermediate, LLC (4) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Electrical Equipment |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Electronic Equipment, Instruments & Components |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
AVAD, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Surf Opco, LLC (4) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
Preferred Equity - Class P-1 Preferred |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19)(31) |
||||
|
|
Common Equity - Class A-1 Common |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
|
|
(9)(13)(19)(31) |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Evolv Technologies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Evolv Technologies Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
17
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Generator Buyer, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total Power Limited |
|
First Lien Secured Debt - Term Loan |
|
CORRA+ |
|
|
C$ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(26) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
CORRA+ |
|
|
C$ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(26) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(15)(17) |
|
|
|
First Lien Secured Debt - Revolver |
|
CORRA+ |
|
|
C$ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(16)(17) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Team LINX, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
TeamLINX Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Electronic Equipment, Instruments & Components |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Energy Equipment & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Camin Cargo |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Camin Cargo Control Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||
|
|
|
|
Total Energy Equipment & Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Entertainment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Shout Factory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Shout! Factory LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
Total Entertainment |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
18
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
AML Rightsource |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Gabriel Partners, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Definiti LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Greylock Holdings LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
RHI Acquisition LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Golden Bear |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Golden Bear 2016-R, LLC (4) |
|
Structured Products and Other - Membership Interests |
|
|
N/A |
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
(3)(15) |
||||
Nexity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Evoriel |
|
First Lien Secured Debt - Term Loan |
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(28) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(28) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Origami Opportunities Fund III |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Origami Opportunities Fund III, L.P. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||
PMA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PMA Parent Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Renew Financial LLC (f/k/a Renewable Funding, LLC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
AIC SPV Holdings II, LLC |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(15)(30) |
||||
Renew Financial LLC (f/k/a Renewable Funding, LLC) |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13) |
||||
Renew JV LLC |
|
Common Equity - Membership Interests |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(15) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
19
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Stretto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Stretto, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
|
|
Total Financial Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Food Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Amylu Foods |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Amylu Borrower Sub, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Berner Foods |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Berner Food & Beverage, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(20)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Bolthouse Farms |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wm. Bolthouse Farms, Inc. |
|
Common Equity - Equity Interests |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13) |
||||
Hive |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
FCP-Hive Holdings, LLC |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||
Hive Intermediate, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Justin's |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Justin's LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Nutpods |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Green Grass Foods, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
Nutpods Holdings, Inc. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
20
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Patriot Pickle |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Patriot Foods Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Food Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Ground Transportation |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Bird Rides |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Blue Jay Transit Inc. (4) |
|
First Lien Secured Debt - Term Loan |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(35) |
|||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18)(35) |
|||||
Third Lane Mobility Inc. (4) |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13)(19) |
|||
|
|
Warrants - Warrants |
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Boasso |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Channelside AcquisitionCo, Inc. (fka Gruden Acquisition, Inc.) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Heniff and Superior |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Heniff Holdco, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Olympus Terminals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Olympus Terminals Holdco II LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Ground Transportation |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
21
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Health Care Equipment & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cerus |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Cerus Corporation |
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(15)(17)(18) |
||||
CQ Medical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BW ISO Acquisition LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
Medical Guardian |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Medical Guardian, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Natus Sensory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Natus Sensory, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(28) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
NeuroPace |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
NeuroPace, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Project Titan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Tyber Medical LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(25) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(28) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(29) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Health Care Equipment & Supplies |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
22
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
All Star |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
All Star Recruiting Locums, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Amplity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Amplity Parent, Inc. (4) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
Amplity Topco, LLC (4) |
|
Preferred Equity - Preferred Equity Class A Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
Preferred Equity - Preferred Equity Class B Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Cato Research |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
LS Clinical Services Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EmpiRx |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EmpiRx Health LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ExactCare |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ExactCare Parent, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
23
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Ingenovis Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ingenovis Health, Inc. (CCRR Parent Inc) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10)(23) |
||||
KCF Puerto Rico, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
KCF Puerto Rico, LLC |
|
Secured Debt - Promissory Note |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(13)(15) |
||||
KureSmart |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Clearway Corporation (f/k/a NP/Clearway Holdings, Inc.) |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Kure Pain Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
LucidHealth |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Premier Imaging, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
Maxor National Pharmacy Services, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Maxor Acquisition, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||
Maxor National Pharmacy Services, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
Maxor Topco, L.P. |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Midwest Vision |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Midwest Vision Partners Management, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
|||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(14) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(14) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Omega Healthcare |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
OMH-Healthedge Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
24
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Rarebreed |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Rarebreed Veterinary Partners, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
RHA Health Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Pace Health Companies, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Tarrytown |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Tarrytown Acquisition Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
(9)(17)(18) |
||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Team Select |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
TS Investors, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Thomas Scientific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BSP-TS, LP |
|
Preferred Equity - Preferred Equity Class C Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||
|
|
Preferred Equity - Preferred Equity Class D Units |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||
Thomas Scientific, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
25
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
WellDyneRx, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
WellDyneRx, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Xanitos |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Pure Upper Holdco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||
Xanitos TopCo, LLC |
|
Common Equity - Membership Interests |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Health Care Providers & Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Health Care Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Acentra |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Acentra Holdings, LLC (fka CNSI Holdings, LLC) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
(9)(16)(17)(18) |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Arcadia Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Arcadia Solutions, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Inovalon |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Inovalon Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||
|
|
Second Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Merative |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Merative L.P. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
(9)(17)(18) |
|||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
(9)(17)(18) |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
26
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
MRO Parent Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
MRO Parent Corporation |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
(9)(17)(18) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Health Care Technology |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
CircusTrix |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CircusTrix Holdings LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Crumbl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Crumbl Enterprises LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
International Cruise & Excursion Gallery, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Arrivia, Inc. (International Cruise & Excursion Gallery, Inc) (4) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||
|
|
Common Equity - Membership Interests |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(19) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Munson |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Munson Buffalo Restaurant Group LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PARS Group LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PARS Group LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
Taco Cabana |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
YTC Enterprises, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
See notes to the consolidated financial statements.
27
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Tasty Chick’n |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Tasty Chick'n LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
The Club Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Eldrickco Limited |
|
First Lien Secured Debt - Term Loan |
|
SON+ |
|
|
£ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(21) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SON+ |
|
|
£ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(21) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SON+ |
|
|
£ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Walters Wedding Estates |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
WH BorrowerCo, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Hotels, Restaurants & Leisure |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Household Durables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Allstar Holdings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Athlete Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Polywood |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Poly-Wood, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Household Durables |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
28
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
GoHealth |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Norvax, LLC (dba GoHealth) |
|
First Lien Secured Debt - Term Loan |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
High Street Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
High Street Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Spectrum Automotive |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Shelby 2021 Holdings Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Insurance |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Interactive Media & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Securus Technologies Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Aventiv Technologies, LLC (fka Securus Technologies Holdings, LLC) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(10)(15)(22) |
||||
SCRS Intermediate Holding Corporation |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(15)(19) |
||||
|
|
Warrants - Warrants |
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(13)(15)(19) |
||
|
|
|
|
Total Interactive Media & Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Avenu Insights & Analytics |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ACP Avenu Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
29
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Distinct |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Distinct Holdings Inc |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
GrayMatter Systems |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Genius Bidco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
New Era Technology, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
NE SPV TOPCO LP |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(13)(15) |
|||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(13) |
||
New Era Technology, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
VikingCloud |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Bullcave Limited |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total IT Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Leisure Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Dan Dee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Project Comfort Buyer, Inc. |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(13) |
||||
KLO Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
1244311 B.C. Ltd. (4) |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(19)(33) |
||||
See notes to the consolidated financial statements.
30
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Paladone |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Paladone Group Bidco Limited |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SON+ |
|
|
£ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(18)(21) |
||||
Paladone Group Holdings Limited |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(15)(33) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Leisure Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Life Sciences Tools & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
August Bio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
August Bioservices, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Unchained Labs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Unchained Labs, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Life Sciences Tools & Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Machinery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Carlisle Fluid Technologies |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
LSF12 Donnelly Bidco, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
Flow Control |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Flow Control Intermediate Holdings 2.0, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
31
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Ideal Tridon |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ideal Components Acquisition, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Milacron (Project Iota) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
IOTA HOLDINGS 3 |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Relevant Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Relevant Industrial, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Machinery |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Media |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Accelerate360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
McClatchy Media Company, LLC (fka Accelerate360 Holdings, LLC) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Acosta |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Acosta Holdings Corp. |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ChyronHego Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
ChyronHego Parent Corporation (5) |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(19) |
||||
ChyronHego US Holding Corporation (5) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
32
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
FingerPaint Marketing |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
KL Charlie Acquisition Company |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
KL Charlie Co-Invest, L.P. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
HALO Branded Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
HALO Buyer, Inc |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Hero Digital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
HRO (Hero Digital) Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||
HRO Holdings I LP |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wilson Language Training |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Owl Parent Holdings, LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9) |
||||
|
|
|
|
Total Media |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Multi-Utilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Congruex |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Congruex Group LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(10)(23) |
||||
SEER |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
GS SEER Group Borrower LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
GS SEER Group Holdings, LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Multi-Utilities |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
33
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Paper & Forest Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
BiOrigin Specialty Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Complete Paper Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
|
|
Total Paper & Forest Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Passenger Airlines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Merx Aviation Finance, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Merx Aviation Finance, LLC (5) |
|
First Lien Secured Debt - Revolver |
|
|
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
— |
|
|
(18) |
||
|
|
Common Equity - Membership Interests |
|
N/A |
|
N/A |
|
|
— |
|
|
|
|
|
|
|
|
|
|
(13)(19) |
|||
|
|
|
|
Total Passenger Airlines |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Personal Care Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Dr. Scholl's |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
DRS Holdings III, Inc. |
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
$ |
|
— |
|
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
(8)(9)(17)(18) |
|
LashCo |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Lash OpCo, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
RoC Skincare |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
RoC Holdco LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Suave |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Silk Holdings I Corp. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Silk Holdings III Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Summer Fridays |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Summer Fridays, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Personal Care Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
34
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Alcresta Therapeutics Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Alcresta Holdings, LP |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(13) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Alcresta Therapeutics Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Avid Bioservices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Space Finco, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
Space Parent, LP |
|
Preferred Equity - Preferred Equity |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ora LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Orion Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
TVG Orion Blocker, Inc. |
|
Unsecured Debt - Promissory Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9) |
||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PAI Pharma |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PAI Co-Investor FT Aggregator LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Pai Middle Tier, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Sterling Pharma |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Saffron Bidco Ltd |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(24) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(29) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
35
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Trillium |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Trillium Health Care Products Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
CORRA+ |
|
|
C$ |
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(27) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Pharmaceuticals |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Professional Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
AGDATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
AGDATA Midco, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
P+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BDO USA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BDO USA, P.A. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
DCM Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
DCM Parent, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
DecisionHR |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
DecisionHR Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Escalent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
M&M OPCO, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
36
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
G&A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
G&A Partners Holding Company II, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Health & Safety Institute |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
HSI Halo Holdings, LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Lexitas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Chronicle Parent LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
North Highland |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
The North Highland Company LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PSI Services, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Lifelong Learner Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Schlesinger Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Schlesinger Global, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
|
|
Total Professional Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Acronis AG |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Angel Lux Bidco S.a.r.l. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(15)(23) |
||||
Align |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
RMCF V CIV L, L.P. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
See notes to the consolidated financial statements.
37
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Asure Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Asure Software, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Beeline |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
IQN Holding Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Calero Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Telesoft Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Digital.ai |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Digital.ai Software Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Forcura + Medalogix (Project Tarpon) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
F&M Buyer LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
G2CI |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Evergreen IX Borrower 2023, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Instem |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ichor Management Limited |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(24) |
||||
Litify |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Litify Holdings Inc. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Litify LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
38
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Lookout |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Lookout, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
mPulse |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
mPulse Mobile, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
MYCOM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Magnate Holding Corp. |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(15) |
|||||
Naviga |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Colonnade Parent Inc (fka Naviga Inc.) |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
New Relic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Crewline Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Poppulo, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Four Winds Interactive LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Simeio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Simeio Group Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
39
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Solera |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Polaris Newco, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10)(23) |
||||
SPS Commerce, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
SPS Commerce, Inc. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(10)(13)(15) |
||||
Texada |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Texada Software LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
The Weather Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Zephyr Buyer, L.P. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Uniguest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Uniguest Holdings, Inc |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Zafin |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Zafin Labs Americas Incorporated |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(24) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Zendesk |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Zendesk, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Software |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
See notes to the consolidated financial statements.
40
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Specialty Retail |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Club Champion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Club Champion LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EG Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EG Global Finance PLC |
|
First Lien Secured Debt - Corporate Bond |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(15)(23) |
||||
|
|
|
|
Total Specialty Retail |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Technology Hardware, Storage & Peripherals |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Accelevation, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Accelevation LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Biamp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Biamp |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BusPatrol |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BusPatrol Holdco |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Technology Hardware, Storage & Peripherals |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Textiles, Apparel & Luxury Goods |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Iconix Brand Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
IBG Borrower LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
41
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
Sequential Brands Group, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Gainline Galaxy Holdings LLC |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(31) |
||||
Galaxy Universal LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Textiles, Apparel & Luxury Goods |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Trading Companies & Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Banner Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Banner Buyer, LLC (4) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||
|
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
LSG |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Lindstrom, LLC |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
MacQueen Equipment, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
MacQueen Equipment, LLC |
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||
McNichols Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Patriot MCN Buyer Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Meritus Gas Partners |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
MGP Holdings III Corp. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
42
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (36) |
|
|
Fair Value (1)(37) |
|
|
|
||||||
ORS Nasco |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
WC ORS Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
WC ORS Holdings, L.P. |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Graffiti Parent, LP |
|
Common Equity - Common Stock |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||
Painters Supply and Equipment Co. (fka Graffiti Buyer, Inc.) |
|
First Lien Secured Debt - Term Loan |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Delayed Draw |
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||
|
|
First Lien Secured Debt - Revolver |
|
SOFR+ |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
Total Trading Companies & Distributors |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||
Total Investments before Cash Equivalents |
|
|
$ |
|
|
|
$ |
|
|
|
(7)(12) |
||||||||||||
J.P. Morgan U.S. Government Money Market Fund |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(11)(34) |
||||||
Total Investments after Cash Equivalents |
|
|
$ |
|
|
|
$ |
|
|
|
|
||||||||||||
Derivative Instrument |
|
|
Settlement Date |
|
Notional amount to be purchased |
|
|
Notional amount to be sold |
|
|
Footnote Reference |
||||
Foreign currency forward contract |
|
|
|
$ |
|
|
|
C$ |
|
|
|
Note 5 |
|||
Foreign currency forward contract |
|
|
|
|
|
|
|
€ |
|
|
|
Note 5 |
|||
Foreign currency forward contract |
|
|
|
|
|
|
|
£ |
|
|
|
Note 5 |
|||
See notes to the consolidated financial statements.
43
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
See notes to the consolidated financial statements.
44
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Name of Issuer |
|
Fair Value at December 31, 2025 |
|
|
|
Gross Additions |
|
|
|
Gross Reductions ■ |
|
|
|
Net Change in Unrealized Gains (Losses) |
|
|
|
Fair Value at September 30, 2026 |
|
|
|
Net Realized Gains (Losses) |
|
|
|
Interest/ |
|
||||||||
1244311 B.C. Ltd.,Common Stock |
|
$ |
|
|
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
( |
) |
|
$ |
|
|
|
$ |
|
— |
|
|
$ |
|
— |
|
||
Banner Buyer, LLC, Common Stock |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Banner Buyer, LLC, Term Loan |
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Carbonfree Chemicals Holdings LLC,Common Equity / Interest |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
FC2 LLC,Common Stock |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
FC2 LLC,Term Loan |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Golden Bear 2016-R, LLC,Membership Interests |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
||||
Kauffman Intermediate, LLC, Revolver |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Kauffman Intermediate, LLC, Term Loan |
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Surf Opco, LLC,Class A-1 Common |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|||
Surf Opco, LLC,Class P-1 Preferred |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|||
Surf Opco, LLC,Revolver |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||||
Surf Opco, LLC,Term Loan |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|||||
Auto Pool 2023 Trust (Del. Stat. Trust) ,Membership Interests |
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Blue Jay Transit Inc.,Term Loan |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|
|
|
— |
|
||||
Arrivia, Inc. (International Cruise & Excursion Gallery, Inc),Membership Interests |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|||
Arrivia, Inc. (International Cruise & Excursion Gallery, Inc),Term Loan |
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
|
||||
Third Lane Mobility Inc.,Common Stock |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Third Lane Mobility Inc.,Warrants |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Amplity Parent, Inc.,Revolver |
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Amplity Parent, Inc.,Term Loan |
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Amplity Topco, LLC,Common Stock |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Amplity Topco, LLC,Preferred Equity |
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Kauffman Engineering Holdings, LLC, Term Loan |
|
|
|
— |
|
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Kauffman Blocker Topco, LLC, Membership Interests |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
|
||||
See notes to the consolidated financial statements.
45
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Name of Issuer |
|
Fair Value at December 31, 2025 |
|
|
|
Gross Additions |
|
|
|
Gross Reductions ■ |
|
|
|
Net Change in Unrealized Gains (Losses) |
|
|
|
Fair Value at September 30, 2026 |
|
|
|
Net Realized Gains (Losses) |
|
|
|
Interest/ |
|
||||||||
Majority Owned Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
ChyronHego US Holding Corporation |
|
$ |
|
|
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
|
||||
ChyronHego US Holding Corporation |
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
ChyronHego Corporation |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|||
Merx Aviation Finance, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|||
Merx Aviation Finance, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
|
||||
As of September 30, 2026, the Company had a
See notes to the consolidated financial statements.
46
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
See notes to the consolidated financial statements.
47
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Name of Issuer |
|
Total Commitment |
|
|
|
Drawn Commitment |
|
|
|
Letters of Credit ** |
|
|
|
Undrawn Commitment |
|
|||||
ACP Avenu Buyer, LLC |
|
$ |
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
ACP Packaging Intermediateco, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
AGDATA Midco, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Accelevation LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Acentra Holdings, LLC (fka CNSI Holdings, LLC) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Alcresta Therapeutics Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
All Star Recruiting Locums, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
American Restoration Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Amplity Parent, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Amylu Borrower Sub, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Arcadia Solutions, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Aspen Aerogels, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Athlete Buyer, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
August Bioservices, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Berner Food & Beverage, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Biamp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Bingo Group Buyer, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Birch Group of Clinics Acquireco Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Brush Group Bidco Limited* |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Bullcave Limited |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
BusPatrol Holdco |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CARDS-Live Oak Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CI (MG) GROUP, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CRS Holdings, Inc. |
|
|
|
|
|
|
|
( |
) |
|
|
|
|
|
|
|
|
|||
CSC Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Camin Cargo Control Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Cerus Corporation |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Channelside AcquisitionCo, Inc. (fka Gruden Acquisition, Inc.) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Chronicle Parent LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ChyronHego US Holding Corporation |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CircusTrix Holdings LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Club Champion LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Colonnade Parent Inc (fka Naviga Inc.) |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Cool Buyer, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Coretrust Purchasing Group LLC (HPG Enterprises LLC) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Crewline Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Crumbl Enterprises LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
DCM Parent, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
DRS Holdings III, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
DecisionHR Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Digital.ai Software Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Distinct Holdings Inc |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Eagle Purchaser, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Eagle U.S. Purchaser, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Eldrickco Limited* |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
See notes to the consolidated financial statements.
48
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Name of Issuer |
|
Total Commitment |
|
|
|
Drawn Commitment |
|
|
|
Letters of Credit ** |
|
|
|
Undrawn Commitment |
|
|||||
EmpiRx Health LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Evergreen IX Borrower 2023, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Evolv Technologies Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ExactCare Parent, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Excelligence Learning Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
F&M Buyer LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Flow Control Intermediate Holdings 2.0, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Four Winds Interactive LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
G&A Partners Holding Company II, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
GI Apple Midco LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
GS SEER Group Borrower LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Gabriel Partners, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Gateway US Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Genius Bidco LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Go Car Wash Management Corp. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Green Grass Foods, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
HALO Buyer, Inc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
HRO (Hero Digital) Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Health Management Associates Superholdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Heniff Holdco, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
High Street Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Hive Intermediate, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
IOTA HOLDINGS 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
IQN Holding Corp. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
IW Buyer LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Ideal Components Acquisition, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Justin's LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
KL Charlie Acquisition Company |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Kauffman Intermediate, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Kure Pain Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
LS Clinical Services Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Lash OpCo, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
LendingPoint 2018-1 Funding Trust |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Lifelong Learner Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Lindstrom, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Litify LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Lotus Topco Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Lunar Buyer, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
M&M OPCO, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
MGP Holdings III Corp. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
MRO Parent Corporation |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
MacQueen Equipment, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Marlin DTC-LS Midco 2, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Maxor National Pharmacy Services, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
McClatchy Media Company, LLC (fka Accelerate360 Holdings, LLC) |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Medical Guardian, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Merative L.P. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Mersino, Inc. (fka Ironhorse Purchaser, LLC) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Merx Aviation Finance, LLC |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Metz Culinary Management, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Midwest Vision Partners Management, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Mobile Communications America, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Munson Buffalo Restaurant Group LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
NCP-MSI Buyer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
NPPI Buyer, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
See notes to the consolidated financial statements.
49
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Name of Issuer |
|
Total Commitment |
|
|
|
Drawn Commitment |
|
|
|
Letters of Credit ** |
|
|
|
Undrawn Commitment |
|
|||||
Natus Sensory, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
NeuroPace, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
New Era Technology, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
OMH-Healthedge Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Olympus Terminals Holdco II LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Orion Buyer, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Overhaul Group, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
PMA Parent Holdings, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Pace Health Companies, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Pai Middle Tier, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Painters Supply and Equipment Co. (fka Graffiti Buyer, Inc.) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Paladone Group Bidco Limited |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Paladone Group Bidco Limited* |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Patriot Foods Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Patriot MCN Buyer Corp. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Pavement Preservation Acquisition, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Poly-Wood, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Precision Refrigeration & Air Conditioning LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Protein For Pets Opco, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Pure Upper Holdco LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
R.F. Fager Company, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
RHI Acquisition LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Rarebreed Veterinary Partners, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Regis Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Relevant Industrial, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
RoC Holdco LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Ronnoco Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
SEV Intermediate Holdco, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Shelby 2021 Holdings Corp. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Shout! Factory LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Simeio Group Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Smith Topco, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Space Finco, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Sperry Acquisition, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Summer Fridays, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Surf Opco, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
TCW Midco LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
THLP CO., LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
TS Investors, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Tarrytown Acquisition Holdings, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Tasty Chick'n LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
TeamLINX Buyer, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Telesoft Holdings, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Texada Software LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
The North Highland Company LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Thomas Scientific, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Total Power Limited |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Total Power Limited* |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Traffic Management Solutions, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Trench Plate Rental Co. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Trillium Health Care Products Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Trillium Health Care Products Inc.* |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Truck-Lite Co., LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Tyber Medical LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Tyber Medical LLC* |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
See notes to the consolidated financial statements.
50
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Name of Issuer |
|
Total Commitment |
|
|
|
Drawn Commitment |
|
|
|
Letters of Credit ** |
|
|
|
Undrawn Commitment |
|
|||||
USLS Acquisition, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Ultra Clean Holdco LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Unchained Labs, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Uniguest Holdings, Inc |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Village Pet Care, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Vybond Buyer, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
WH BorrowerCo, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
WelldyneRX, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Zafin Labs Americas Incorporated |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Zendesk, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Zephyr Buyer, L.P. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ePac Holdings LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
mPulse Mobile, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Total Commitments |
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
||||
*
**
See notes to the consolidated financial statements.
51
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)
Issuer |
|
Investment Type |
|
Acquisition Date |
1244311 B.C. Ltd. |
|
Common Equity - Common Stock |
|
|
Amplity Topco, LLC |
|
Preferred Equity - Preferred Equity |
|
|
Amplity Topco, LLC |
|
Common Equity - Common Equity / Interest |
|
|
Arrivia, Inc. (International Cruise & Excursion Gallery, Inc) |
|
Common Equity - Membership Interests |
|
|
Carbonfree Chemicals Holdings LLC |
|
Common Equity - Common Equity / Interest |
|
|
ChyronHego Corporation |
|
Preferred Equity - Preferred Equity |
|
|
Eagle Aggregator Ltd |
|
Common Equity - Common Equity / Interest |
|
|
Eagle Aggregator Ltd |
|
Preferred Equity - Preferred Equity |
|
|
FC2 LLC |
|
Common Equity - Common Stock |
|
|
Justin's LLC |
|
Common Equity - Common Stock |
|
|
LendingPoint Consolidated, Inc. |
|
Preferred Equity - Preferred Equity |
|
|
LendingPoint Consolidated, Inc. |
|
Common Equity - Common Stock |
|
|
Merx Aviation Finance, LLC |
|
Common Equity - Membership Interests |
|
|
SCRS Intermediate Holding Corporation |
|
Common Equity - Common Stock |
|
|
SCRS Intermediate Holding Corporation |
|
Warrants - Warrants |
|
|
Surf Opco, LLC |
|
Preferred Equity - Class P-1 Preferred |
|
|
Surf Opco, LLC |
|
Common Equity/Partnership Interests - Class A-1 Common |
|
|
Third Lane Mobility Inc. |
|
Common Equity - Common Stock |
|
|
Third Lane Mobility Inc. |
|
Warrants - Warrants |
|
|
Kauffman Blocker Topco, LLC |
|
Common Equity - Membership Interests |
|
|
Banner Buyer, LLC |
|
Common Equity - Common Stock |
|
|
Xanitos TopCo, LLC |
|
Common Equity - Membership Interests |
|
See notes to the consolidated financial statements.
52
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2026
(In thousands, except share data)