[10-Q] MidCap Financial Investment Corp Quarterly Earnings Report
AI-generated analysis. How Rhea-AI works. Not financial advice.
Table of Contents
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 2054923
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 |
|
Trading symbol(s) |
|
Name of each exchange on which registered |
|
|
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
The number of shares of the Registrant’s common stock, $0.001 par value per share, outstanding as of May 5, 2026 was
|
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
Table of Contents
|
|
Page |
|
PART I. FINANCIAL INFORMATION |
|
|
|
|
Item 1. |
Consolidated Financial Statements |
1 |
|
|
|
|
Consolidated Statements of Assets and Liabilities as of |
1 |
|
|
|
|
Consolidated Statements of Operations for the |
2 |
|
|
|
|
Consolidated Statements of Changes in Net Assets for the |
3 |
|
|
|
|
Consolidated Statements of Cash Flows for the |
4 |
|
|
|
|
Consolidated Schedule of Investments as of March 31, 2026 (Unaudited) |
5 |
|
|
|
|
Consolidated Schedule of Investments as of December 31, 2025 |
56 |
|
|
|
|
Notes to Consolidated Financial Statements |
108 |
|
|
|
|
Report of Independent Registered Public Accounting Firm |
145 |
|
|
|
Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
146 |
|
|
|
Item 3. |
Quantitative and Qualitative Disclosures About Market Risk |
159 |
|
|
|
Item 4. |
Controls and Procedures |
161 |
|
|
|
|
PART II. OTHER INFORMATION |
|
|
|
|
Item 1. |
Legal Proceedings |
162 |
|
|
|
Item 1A. |
Risk Factors |
162 |
|
|
|
Item 2. |
Unregistered Sales of Equity Securities and Use of Proceeds |
163 |
|
|
|
Item 3. |
Defaults Upon Senior Securities |
166 |
|
|
|
Item 4. |
Mine Safety Disclosures |
166 |
|
|
|
Item 5. |
Other Information |
166 |
|
|
|
Item 6. |
Exhibits |
167 |
|
|
|
|
Signatures |
168 |
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)
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
||||
|
|
|
(Unaudited) |
|
|
|
|
|
||
Assets |
|
|
|
|
|
|
|
|
||
Investments at fair value: |
|
|
|
|
|
|
|
|
||
Non-controlled/non-affiliated investments (cost — $ |
|
$ |
|
|
|
$ |
|
|
||
Non-controlled/affiliated investments (cost — $ |
|
|
|
|
|
|
|
|
||
Controlled investments (cost — $ |
|
|
|
|
|
|
|
|
||
Cash and cash equivalents |
|
|
|
|
|
|
|
|
||
Foreign currencies (cost — $ |
|
|
|
|
|
|
|
|
||
Receivable for investments sold |
|
|
|
|
|
|
|
|
||
Interest receivable |
|
|
|
|
|
|
|
|
||
Dividends receivable |
|
|
|
|
|
|
|
|
||
Deferred financing costs |
|
|
|
|
|
|
|
|
||
Unrealized appreciation on foreign currency forward contracts |
|
|
|
|
|
|
|
|
||
Prepaid expenses and other assets |
|
|
|
|
|
|
|
|
||
Total Assets |
|
$ |
|
|
|
$ |
|
|
||
|
|
|
|
|
|
|
|
|
||
Liabilities |
|
|
|
|
|
|
|
|
||
Debt (net of deferred financing costs and unamortized original discount of $ |
|
$ |
|
|
|
$ |
|
|
||
Payable for investments purchased |
|
|
|
|
|
|
|
|
||
Shares Repurchase Payable |
|
|
|
|
|
|
|
|
||
Management fees payable |
|
|
|
|
|
|
|
|
||
Interest payable |
|
|
|
|
|
|
|
|
||
Accrued administrative services expense |
|
|
|
|
|
|
|
|
||
Other liabilities and accrued expenses |
|
|
|
|
|
|
|
|
||
Total Liabilities |
|
$ |
|
|
|
$ |
|
|
||
Commitments and contingencies (Note 8) |
|
|
|
|
|
|
|
|
||
Net Assets |
|
$ |
|
|
|
$ |
|
|
||
|
|
|
|
|
|
|
|
|
||
Net Assets |
|
|
|
|
|
|
|
|
||
Common stock, $ |
|
$ |
|
|
|
$ |
|
|
||
Capital in excess of par value |
|
|
|
|
|
|
|
|
||
Accumulated under-distributed (over-distributed) earnings |
|
|
|
( |
) |
|
|
|
( |
) |
Net Assets |
|
$ |
|
|
|
$ |
|
|
||
|
|
|
|
|
|
|
|
|
||
Net Asset Value Per Share |
|
$ |
|
|
|
$ |
|
|
||
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)
|
|
Three Months Ended March 31, |
|
|||||||
|
|
2026 |
|
|
2025 |
|
||||
Investment Income |
|
|
|
|
|
|
|
|
||
Non-controlled/non-affiliated investments: |
|
|
|
|
|
|
|
|
||
Interest income (excluding Payment-in-kind (“PIK”) interest income) |
|
$ |
|
|
|
$ |
|
|
||
Dividend income |
|
|
|
|
|
|
|
— |
|
|
PIK interest income |
|
|
|
|
|
|
|
|
||
Other income |
|
|
|
|
|
|
|
|
||
Non-controlled/affiliated investments: |
|
|
|
|
|
|
|
|
||
Interest income (excluding PIK interest income) |
|
|
|
|
|
|
|
|
||
Dividend income |
|
|
|
|
|
|
|
|
||
PIK interest income |
|
|
|
— |
|
|
|
|
|
|
Controlled investments: |
|
|
|
|
|
|
|
|
||
Interest income (excluding PIK interest income) |
|
|
|
|
|
|
|
|
||
Other income |
|
|
|
— |
|
|
|
|
|
|
Total Investment Income |
|
$ |
|
|
|
$ |
|
|
||
Expenses |
|
|
|
|
|
|
|
|
||
Management fees |
|
$ |
|
|
|
$ |
|
|
||
Performance-based incentive fees |
|
|
|
— |
|
|
|
|
|
|
Interest and other debt expenses |
|
|
|
|
|
|
|
|
||
Administrative services expense |
|
|
|
|
|
|
|
|
||
Other general and administrative expenses |
|
|
|
|
|
|
|
|
||
Total expenses |
|
|
|
|
|
|
|
|
||
Expense reimbursements |
|
|
|
( |
) |
|
|
|
( |
) |
Net Expenses |
|
$ |
|
|
|
$ |
|
|
||
Net Investment Income |
|
$ |
|
|
|
$ |
|
|
||
Net Realized and Change in Unrealized Gains (Losses) |
|
|
|
|
|
|
|
|
||
Net realized gains (losses): |
|
|
|
|
|
|
|
|
||
Non-controlled/non-affiliated investments |
|
$ |
|
( |
) |
|
$ |
|
|
|
Non-controlled/affiliated investments |
|
|
|
( |
) |
|
|
|
( |
) |
Foreign currency forward contracts |
|
|
|
|
|
|
|
— |
|
|
Foreign currency transactions |
|
|
|
( |
) |
|
|
|
( |
) |
Net realized gains (losses) |
|
|
|
( |
) |
|
|
|
|
|
Net change in unrealized gains (losses): |
|
|
|
|
|
|
|
|
||
Non-controlled/non-affiliated investments |
|
|
|
( |
) |
|
|
|
( |
) |
Non-controlled/affiliated investments |
|
|
|
( |
) |
|
|
|
( |
) |
Controlled investments |
|
|
|
( |
) |
|
|
|
|
|
Foreign currency forward contracts |
|
|
|
|
|
|
|
|
||
Foreign currency translations |
|
|
|
|
|
|
|
( |
) |
|
Net change in unrealized gains (losses) |
|
|
|
( |
) |
|
|
|
( |
) |
Net Realized and Change in Unrealized Gains (Losses) |
|
$ |
|
( |
) |
|
$ |
|
( |
) |
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
$ |
|
( |
) |
|
$ |
|
|
|
Earnings (Loss) Per Share — Basic |
|
$ |
|
( |
) |
|
$ |
|
|
|
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)
|
|
Three Months Ended March 31, |
|
|||||||
|
|
2026 |
|
|
2025 |
|
||||
Operations |
|
|
|
|
|
|
|
|
||
Net investment income |
|
$ |
|
|
|
$ |
|
|
||
Net realized gains (losses) |
|
|
|
( |
) |
|
|
|
|
|
Net change in unrealized gains (losses) |
|
|
|
( |
) |
|
|
|
( |
) |
Net Increase (Decrease) in Net Assets Resulting from Operations |
|
$ |
|
( |
) |
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
||
Distributions to Stockholders |
|
|
|
|
|
|
|
|
||
Distribution of net investment income |
|
$ |
|
( |
) |
|
$ |
|
( |
) |
Net Decrease in Net Assets Resulting from Distributions to Stockholders |
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
|
|
|
|
|
|
|
|
||
Capital Share Transactions |
|
|
|
|
|
|
|
|
||
Repurchase of common stock |
|
|
|
( |
) |
|
|
|
( |
) |
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions |
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
|
|
|
|
|
|
|
|
||
Net Assets |
|
|
|
|
|
|
|
|
||
Net increase (decrease) in net assets during the period |
|
$ |
|
( |
) |
|
$ |
|
( |
) |
Net assets at beginning of period |
|
|
|
|
|
|
|
|
||
Net Assets at End of Period |
|
$ |
|
|
|
$ |
|
|
||
|
|
|
|
|
|
|
|
|
||
Capital Share Activity |
|
|
|
|
|
|
|
|
||
Shares repurchased during the period |
|
|
|
( |
) |
|
|
|
( |
) |
Shares issued and outstanding at beginning of period |
|
|
|
|
|
|
|
|
||
Shares Issued and Outstanding at End of Period |
|
|
|
|
|
|
|
|
||
See notes to the consolidated financial statements.
3
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In thousands)
|
|
Three Months Ended March 31, |
|
|||||||
|
|
2026 |
|
|
2025 |
|
||||
Operating Activities |
|
|
|
|
|
|
|
|
||
Net increase (decrease) in net assets resulting from operations |
|
$ |
|
( |
) |
|
$ |
|
|
|
Net realized (gains) losses on investments |
|
|
|
|
|
|
|
( |
) |
|
Net change in unrealized (gains) losses |
|
|
|
|
|
|
|
|
||
Net amortization of premiums and accretion of discounts on investments |
|
|
|
( |
) |
|
|
|
( |
) |
Accretion of discount on notes |
|
|
|
|
|
|
|
|
||
Amortization of deferred financing costs |
|
|
|
|
|
|
|
|
||
PIK interest and dividends capitalized |
|
|
|
( |
) |
|
|
|
( |
) |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
||
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 Shares Repurchase Payable |
|
|
|
|
|
|
|
|
||
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)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Aerospace & Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Beaufort |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Eagle Aggregator Ltd |
|
Preferred Equity - Preferred Equity |
|
|
N/A |
|
N/A |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(13)(15)(19)(32) |
||||||
|
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(15)(19)(32) |
||||||
Eagle U.S. Purchaser, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
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) |
||||||
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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
5
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(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)(19) |
||||||
|
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||||
|
|
|
|
|
|
Total Beverages |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Biotechnology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Celerion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Celerion Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
10,976 |
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Rigel Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Rigel Pharmaceuticals, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Biotechnology |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
6
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(24) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(24) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
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)(30) |
||||||
FC2 LLC (4) |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(13)(19) |
||||
|
|
Secured Debt - Promissory Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Atlas Technical Consultants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
GI Apple Midco LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(15)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(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)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CoreTrust |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coretrust Purchasing Group LLC (HPG Enterprises LLC) |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Flatworld Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Flatworld Intermediate Corp |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9) |
||||||
Heritage Environmental Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Arcwood Environmental, Inc. (f/k/a Heritage Environmental Services, Inc.) |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
8
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
IronClad |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ironhorse Purchaser, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
SMC IR Holdings, LLC |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Jacent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jacent Strategic Merchandising, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
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)(19) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Pavement Preservation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Pavement Preservation Acquisition, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22)(23) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
SafetyCo |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HEF Safety Ultimate Holdings, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
9
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Smith System |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Smith Topco, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23)(24) |
||||||
|
|
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) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
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+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
10
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Core Roofing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRS 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)(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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(19) |
||||||
|
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Construction & Engineering |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Consumer Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Lending Point |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LendingPoint 2018-1 Funding Trust |
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(17)(18)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17)(18)(22) |
||||||
LendingPoint Consolidated, Inc. |
|
Preferred Equity - Preferred Equity |
|
|
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 |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
Unsecured Debt - Term Loan |
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
11
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
US Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Pool 2023 Trust (Del. Stat. Trust) (4) |
|
Structured Products and Other - Membership Interests |
|
|
N/A |
|
N/A |
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
(9)(13)(31) |
|||||
|
|
|
|
|
|
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(17)(18)(20) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 |
|
|
SOFR+ |
|
|
C$ |
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
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)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Truvant |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NPPI 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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Club Car Wash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Club Car Wash Operating, 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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Elase Med Spas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Birch Group of Clinics Acquireco Inc. |
|
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
13
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(23) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Legacy.com |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lotus Topco Inc. |
|
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(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)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
14
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ultra Clean Newco |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ultra Clean 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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(23)(24) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(10)(15)(17) |
||||||
|
|
Unsecured Debt - Corporate Bond |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10)(15) |
|||||||
|
|
|
|
|
|
Total Diversified Telecommunication Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
15
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
International Wire Group |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
IW Buyer LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(16)(17) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Kauffman |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kauffman Holdco, LLC |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||||
Kauffman Intermediate, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||||
|
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(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)(17)(18)(22) |
||||||
|
|
Preferred Equity - Class P-1 Preferred |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(19)(30) |
||||||
|
|
Common Equity - Class A-1 Common |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
|
|
(9)(13)(19)(30) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(17)(18) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
|
|
|
|
( |
) |
|
(8)(9)(15)(17)(18) |
|||||
|
|
First Lien Secured Debt - Revolver |
|
|
CORRA+ |
|
|
C$ |
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
16
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Pro Vigil |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pro-Vigil Holding Company, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Team LINX, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TeamLINX Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wolfspeed |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wolfspeed Inc |
|
First Lien Secured Debt - Corporate Bond |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(10)(15) |
|||||||
|
|
|
|
|
|
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)(23) |
||||||
|
|
|
|
|
|
Total Entertainment |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
AML Rightsource |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gabriel Partners, 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)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
17
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(24) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(24) |
||||||
|
|
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 |
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
(3)(15) |
|||||
Nexity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Evoriel |
|
First Lien Secured Debt - Term Loan |
|
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(27) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(27) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Origami Opportunities Fund III |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Origami Opportunities Fund III, L.P. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(17)(18) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(15)(29) |
||||||
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Stretto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stretto, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
|
|
|
|
Total Financial Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
18
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(17)(18) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(22) |
||||||
|
|
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) |
||||
Nutpods Holdings, Inc. |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Food Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
19
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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) |
|||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||||
Third Lane Mobility Inc. (4) |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13)(19) |
|||||
|
|
Warrants - Warrants |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Heniff and Superior |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Heniff Holdco, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Ground Transportation |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Health Care Equipment & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Capsa Healthcare |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CSHC Buyerco, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||||
Cerus |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cerus Corporation |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(18)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(17)(18) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
20
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
CQ Medical |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BW ISO Acquisition LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||||
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)(27) |
||||||
|
|
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) |
||||||
|
|
First Lien Secured Debt - Term Loan |
|
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Health Care Equipment & Supplies |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Health Care Providers & Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Alcami |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alcami Corporation |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
21
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
All Star |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Star Recruiting Locums, 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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Amplity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amplity Parent, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Cato Research |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LS Clinical Services Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EmpiRx |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EmpiRx Health LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Ingenovis Health |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ingenovis Health, Inc. (CCRR Parent Inc) |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(14) |
|||||||
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
22
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(22) |
||||||
Maxor National Pharmacy Services, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
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)(14) |
|||||||
|
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Rarebreed |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rarebreed Veterinary Partners, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
P+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
23
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Team Select |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TS Investors, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Thomas Scientific |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BSP-TS, LP |
|
Preferred Equity - Preferred Equity |
|
|
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 |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(20) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Arcadia Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arcadia Solutions, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
CNSI |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
24
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Gainwell |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gainwell Acquisition Corp. (Milano Acquisition Corp) |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10)(23) |
||||||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
MRO Parent Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
MRO Parent Corporation |
|
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Health Care Technology |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Hotels, Restaurants & Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
CircusTrix |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CircusTrix Holdings 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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Crumbl |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crumbl Enterprises LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Guernsey |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Guernsey Holdings SDI LA LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9) |
|||||||
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
25
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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) |
||||||
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)(18)(21) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SON+ |
|
|
£ |
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Walters Wedding Estates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
WH BorrowerCo, 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+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
26
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Polywood |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Poly-Wood, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Household Durables |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
Insurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
GoHealth |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Norvax, LLC (dba GoHealth) |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18) |
|||||||
|
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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)(23) |
||||||
|
|
Second Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
(14) |
||||||
|
|
|
|
|
|
Total Interactive Media & Services |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
27
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(16)(17)(18) |
||||||
|
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
New Era Technology, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
New Era Technology, 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)(19) |
||||||
|
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
(9)(13)(19) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
28
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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 |
|
|
|
|
|
|
|
|
|
|
|
|
(2)(13)(19)(32) |
||||||
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)(17)(18) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SON+ |
|
|
£ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(18)(21) |
||||||
Paladone Group Holdings Limited |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(2)(9)(13)(15) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
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)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
29
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
JPW |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JPW Industries Holding Corporation |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
Milacron (Project Iota) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
IOTA HOLDINGS 3 |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
ChyronHego Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
ChyronHego Corporation (5) |
|
Preferred Equity - Preferred Equity |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(19) |
||||||
ChyronHego US Holding Corporation (5) |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
30
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
FingerPaint Marketing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
KL Charlie Acquisition Company |
|
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) |
||||
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)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Hero Digital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HRO (Hero Digital) 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 |
|
|
P+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
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.
31
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Paper & Forest Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
BiOrigin Specialty Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Complete Paper Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||||
|
|
|
|
|
|
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 - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(22) |
||||||
|
|
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 - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Personal Care Products |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
32
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(17)(18) |
||||
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 - Delayed Draw |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
P+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(20) |
||||||
TVG Orion Blocker, Inc. |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||||
|
|
Unsecured Debt - Promissory Note |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
PAI Pharma |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pai Middle Tier, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
PAI Co-Investor FT Aggregator LLC |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Sterling Pharma |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Saffron Bidco Ltd |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(24) |
||||||
|
|
First Lien Secured Debt - Term Loan |
|
|
EURIBOR+ |
|
|
€ |
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(28) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SON+ |
|
|
£ |
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(15)(17) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
33
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Trillium |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trillium Health Care Products Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
CORRA+ |
|
|
C$ |
— |
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(17)(18) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
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 |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
34
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
North Highland |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The North Highland Company LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
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+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(15)(23) |
||||||
Align |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RMCF V CIV L, L.P. |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(9)(13)(15) |
||||||
American Megatrends |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMI Buyer, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(25) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
35
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Digital.ai |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Digital.ai Software Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
EVER.AG Corporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EVER.AG Corporation |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Forcura + Medalogix (Project Tarpon) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
F&M 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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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.
36
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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 |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Riverbed Technology, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(17)(18) |
||||
Simeio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Simeio Group Holdings, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(33) |
|||||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14)(18)(33) |
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
37
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Solera |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Polaris Newco, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10)(23) |
||||||
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+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
( |
) |
|
(8)(9)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Uplight |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Uplight, Inc. |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
(8)(9)(18) |
||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(22) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Zafin |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Zafin Labs Americas Incorporated |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(15)(23) |
||||||
|
|
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)(17)(18) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Software |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
38
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Biamp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Biamp |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(23) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
BusPatrol |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
BusPatrol Holdco |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(22) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(18)(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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Sequential Brands Group, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gainline Galaxy Holdings LLC |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
(13)(30) |
||||||
Galaxy Universal LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23)(24) |
||||||
|
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(23) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
Total Textiles, Apparel & Luxury Goods |
|
|
$ |
|
|
|
$ |
|
|
|
|
|||||||||
See notes to the consolidated financial statements.
39
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
Trading Companies & Distributors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Banner Solutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Banner Buyer, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
(9)(14) |
|||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(14) |
|||||||
|
|
First Lien Secured Debt - Revolver |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
(8)(9)(14)(17) |
||||||
Banner Parent Holdings, Inc. |
|
Common Equity - Common Stock |
|
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
— |
|
|
(9)(13) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
LSG |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Lindstrom, LLC |
|
First Lien Secured Debt - Term Loan |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(24) |
||||||
|
|
First Lien Secured Debt - Revolver |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(24) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
MacQueen Equipment, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
First Lien Secured Debt - Delayed Draw |
|
|
SOFR+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9)(17)(18)(23) |
||||||
McNichols Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Patriot MCN Buyer Corp. |
|
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) |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Meritus Gas Partners |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
MGP Holdings III Corp. |
|
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
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) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
See notes to the consolidated financial statements.
40
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Industry/Company |
|
Investment Type |
|
|
Interest Rate (6) |
|
Maturity Date |
|
Par/Shares (2) |
|
|
Cost (34) |
|
|
Fair Value (1)(35) |
|
|
|
||||||||
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)(17)(18)(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 |
N/A |
|
N/A |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
|
(11) |
||||||||||
Goldman Sachs Financial Square Government Fund, Institutional |
N/A |
|
N/A |
|
$ |
|
|
$ |
|
|
|
$ |
|
|
|
(11) |
||||||||||
Total Investment 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.
41
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 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 March 31, 2026 |
|
|
|
Net Realized Gains (Losses) |
|
|
|
Interest/ |
|
||||||||
1244311 B.C. Ltd.,Common Stock |
|
$ |
|
|
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
( |
) |
|
$ |
|
|
|
$ |
|
— |
|
|
$ |
|
— |
|
||
Carbonfree Chemicals Holdings LLC,Common Equity / Interest |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
FC2 LLC,Common Stock |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
FC2 LLC,Term Loan |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Golden Bear 2016-R, LLC,Membership Interests |
|
|
|
|
|
|
|
|
|
|
|
( |
) |
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
||||
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 |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
( |
) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
( |
) |
|
$ |
|
|
|
$ |
|
( |
) |
|
$ |
|
|
||||
See notes to the consolidated financial statements.
42
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 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 March 31, 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 March 31, 2026, the Company had a
See notes to the consolidated financial statements.
43
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 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)
March 31, 2026
(In thousands, except share data)
Name of Issuer |
|
Total Commitment |
|
|
|
Drawn Commitment |
|
|
|
Letters of Credit ** |
|
|
|
Undrawn Commitment |
|
|||||
Accelerate360 Holdings, LLC |
|
$ |
|
|
|
$ |
|
|
|
$ |
|
— |
|
|
$ |
|
|
|||
Accelevation LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Acentra Holdings, LLC (fka CNSI Holdings, LLC) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ACP Avenu Buyer, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ACP Packaging Intermediateco, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
AGDATA Midco, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Alcami Corporation |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Alcresta Therapeutics Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
All Star Recruiting Locums, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
American Restoration Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
AMI Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Amplity Parent, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Amylu Borrower Sub, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Arcadia Solutions, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Arcwood Environmental, Inc. (f/k/a Heritage Environmental Services, Inc.) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Aspen Aerogels, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Athlete Buyer, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
August Bioservices, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Banner Buyer, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Berner Food & Beverage, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Biamp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Bingo Group Buyer, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Birch Group of Clinics Acquireco Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Blue Jay Transit Inc. |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
Brush Group Bidco Limited* |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Bullcave Limited |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
BusPatrol Holdco |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Camin Cargo Control Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CARDS-Live Oak Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Celerion Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Cerus Corporation |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Channelside AcquisitionCo, Inc. (fka Gruden Acquisition, Inc.) |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Chronicle Parent LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ChyronHego US Holding Corporation |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CI (MG) GROUP, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
CircusTrix Holdings LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Club Car Wash Operating, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Club Champion LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Colonnade Parent Inc (fka Naviga Inc.) |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Cool Buyer, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Coretrust Purchasing Group LLC (HPG Enterprises LLC) |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Crewline Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
CRS Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Crumbl Enterprises LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
CSC Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
See notes to the consolidated financial statements.
45
Table of Contents
MIDCAP FINANCIAL INVESTMENT CORPORATION
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
(In thousands, except share data)
Name of Issuer |
|
Total Commitment |
|
|
|
Drawn Commitment |
|
|
|
Letters of Credit ** |
|
|
|
Undrawn Commitment |
|
|||||
DCM Parent, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
DecisionHR Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Digital.ai Software Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Distinct Holdings Inc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
DRS Holdings III, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Eagle Purchaser, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Eagle U.S. Purchaser, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Eldrickco Limited* |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
EmpiRx Health LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
ePac Holdings LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
EVER.AG Corporation |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
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 |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Gabriel Partners, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
Gateway US Holdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Genius Bidco LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
GI Apple Midco LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Go Car Wash Management Corp. |
|
|
|
|
|
|
|
83 |
|
|
|
|
— |
|
|
|
|
|
||
Green Grass Foods, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
GS SEER Group Borrower LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
HALO Buyer, Inc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Health Management Associates Superholdings, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
HEF Safety Ultimate Holdings, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Heniff Holdco, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|||
High Street Buyer, Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
Hive Intermediate, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
HRO (Hero Digital) Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Ideal Components Acquisition, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
IOTA HOLDINGS 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
IQN Holding Corp. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Ironhorse Purchaser, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|||
IW Buyer LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Jacent Strategic Merchandising, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Justin's LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Kauffman Intermediate, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
||
KL Charlie Acquisition Company |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Kure Pain Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Lash OpCo, LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
LendingPoint 2018-1 Funding Trust |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Lifelong Learner Holdings, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Lindstrom, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Litify LLC |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
Lotus Topco Inc. |
|
|
|
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
||
LS Clinical Services Holdings, Inc. |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
Lunar Buyer, LLC |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|||
M&M OPCO, LLC |
|
|
|
|
||||||||||||||||