10-Q/A Filing

AUDAX CREDIT BDC INC. CIK: 1633858 Q1 2023

Filing Information

Form Type	10-Q/A
Accession Number	`0001410578-23-001436`
Period End Date	20230331
Filing Date	20230614
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	tmb-20230331x10qa_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 64 Cash Flow Statement 52

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Investments, at fair value, Non-Control/Non-Affiliate investments, cost	`InvestmentOwnedAtCost`	$406.27M	USD	Point-in-time
Investments, at fair value, Non-Control/Non-Affiliate investments, cost	`InvestmentOwnedAtCost`	$427.70M	USD	Point-in-time
Investments, at fair value, Non-Control/Non-Affiliate investments (Cost of $406,272,865 and $427,700,856, respectively)	`InvestmentOwnedAtFairValue`	$398.84M	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investments, at fair value, Non-Control/Non-Affiliate investments (Cost of $406,272,865 and $427,700,856, respectively)	`InvestmentOwnedAtFairValue`	$420.83M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.38M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.28M	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	44.75M	shares	Point-in-time
Interest receivable	`InterestReceivable`	$2.42M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$2.44M	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	43.17M	shares	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	46.38M	shares	Point-in-time
Receivable from bank loan repayment	`ReceivableFromBankLoanRepayment`	$61.07K	USD	Point-in-time
Receivable from bank loan repayment	`ReceivableFromBankLoanRepayment`	$126.63K	USD	Point-in-time
Other assets	`OtherAssets`	$168.75K	USD	Point-in-time
Receivable from investments sold	`ReceivableInvestmentSale`	$4.42M	USD	Point-in-time
Total assets	`Assets`	$433.86M	USD	Point-in-time
Total assets	`Assets`	$443.65M	USD	Point-in-time
Payable for short-term borrowings	`ShortTermBorrowings`	$8.72M	USD	Point-in-time
Payable for short-term borrowings	`ShortTermBorrowings`	$13.18M	USD	Point-in-time
Payable for investments purchased	`PayableInvestmentPurchase`	$1.68M	USD	Point-in-time
Fees due to investment advisor, net of waivers	`FeesDueToInvestmentAdvisorNetOfWaivers`	$1.16M	USD	Point-in-time
Fees due to investment advisor, net of waivers	`FeesDueToInvestmentAdvisorNetOfWaivers`	$1.14M	USD	Point-in-time
Fee due to administrator	`FeeDueToAdministrator`	$66.25K	USD	Point-in-time
Fee due to administrator	`FeeDueToAdministrator`	$66.25K	USD	Point-in-time
Accrued expenses and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$912.80K	USD	Point-in-time
Accrued expenses and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$790.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.55M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 44,753,084 and 46,376,461 shares issued and outstanding, respectively	`CommonStockValue`	$46.38K	USD	Point-in-time
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 44,753,084 and 46,376,461 shares issued and outstanding, respectively	`CommonStockValue`	$44.75K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$437.96M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$422.96M	USD	Point-in-time
Total distributable loss	`RetainedEarningsAccumulatedDeficit`	$-9.52M	USD	Point-in-time
Total distributable loss	`RetainedEarningsAccumulatedDeficit`	$-1.68M	USD	Point-in-time
Total Net Assets	`StockholdersEquity`	$373.95M	USD	Point-in-time
Total Net Assets	`StockholdersEquity`	$428.48M	USD	Point-in-time
Total Net Assets	`StockholdersEquity`	$421.32M	USD	Point-in-time
Total Net Assets	`StockholdersEquity`	$406.99M	USD	Point-in-time
Net Asset Value per Share of Common Stock at End of Period	`NetAssetValuePerShare`	$9.24	USD	Point-in-time
Net Asset Value per Share of Common Stock at End of Period	`NetAssetValuePerShare`	$9.36	USD	Point-in-time
Net Asset Value per Share of Common Stock at End of Period	`NetAssetValuePerShare`	$9.43	USD	Point-in-time
Net Asset Value per Share of Common Stock at End of Period	`NetAssetValuePerShare`	$9.41	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	44.75M	shares	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	43.17M	shares	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	46.38M	shares	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Non-Control/Non-Affiliate	`NonControlledNonAffiliateInterestIncome`	$10.01M	USD	1 Quarter
Non-Control/Non-Affiliate	`NonControlledNonAffiliateInterestIncome`	$5.39M	USD	Annual
Other	`OtherOperatingIncome`	$64.55K	USD	1 Quarter
Other	`OtherOperatingIncome`	$384.00	USD	Annual
Total interest income	`InterestIncomeOperating`	$5.39M	USD	Annual
Total interest income	`InterestIncomeOperating`	$10.08M	USD	1 Quarter
Non-Control/Non-Affiliate	`NonControlledNonAffiliateOtherIncome`	$38.12K	USD	Annual
Non-Control/Non-Affiliate	`NonControlledNonAffiliateOtherIncome`	$62.63K	USD	1 Quarter
Total income	`NonoperatingIncomeExpense`	$10.14M	USD	1 Quarter
Total income	`NonoperatingIncomeExpense`	$5.43M	USD	Annual
Base management fee	`ManagementFeeExpense`	$1.04M	USD	Annual
Base management fee	`ManagementFeeExpense`	$1.04M	USD	1 Quarter
Base management fee	`ManagementFeeExpense`	$1.11M	USD	1 Quarter
Incentive fee	`IncentiveFeeExpense`	$426.32K	USD	Annual
Incentive fee	`IncentiveFeeExpense`	$1.33M	USD	1 Quarter
Incentive fee	`IncentiveFeeExpense`	$426.32K	USD	1 Quarter
Interest expense	`InterestExpense`	$41.17K	USD	Annual
Interest expense	`InterestExpense`	$41.17K	USD	1 Quarter
Interest expense	`InterestExpense`	$227.65K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$81.67K	USD	Annual
Professional fees	`ProfessionalFees`	$98.64K	USD	1 Quarter
Other expenses	`OtherExpenses`	$79.18K	USD	Annual
Other expenses	`OtherExpenses`	$74.77K	USD	1 Quarter
Administrative fee	`AdministrativeFeesExpense`	$66.25K	USD	Annual
Administrative fee	`AdministrativeFeesExpense`	$66.25K	USD	1 Quarter
Directors' fees	`NoninterestExpenseDirectorsFees`	$63.75K	USD	1 Quarter
Directors' fees	`NoninterestExpenseDirectorsFees`	$56.25K	USD	Annual
Expenses before waivers from investment adviser and administrator	`InvestmentIncomeInvestmentExpense`	$1.79M	USD	Annual
Expenses before waivers from investment adviser and administrator	`InvestmentIncomeInvestmentExpense`	$2.97M	USD	1 Quarter
Base management fee waivers	`InvestmentCompanyVoluntaryFeeWaived`	$363.45K	USD	Annual
Base management fee waivers	`InvestmentCompanyVoluntaryFeeWaived`	$388.10K	USD	1 Quarter
Incentive fee waivers	`InvestmentCompanyContractualFeeWaived`	$889.30K	USD	1 Quarter
Incentive fee waivers	`InvestmentCompanyContractualFeeWaived`	$383.69K	USD	Annual
Total expenses, net of waivers	`InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement`	$1.04M	USD	Annual
Total expenses, net of waivers	`InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement`	$1.70M	USD	1 Quarter
Net Investment Income	`NetInvestmentIncome`	$8.44M	USD	1 Quarter
Net Investment Income	`NetInvestmentIncome`	$4.39M	USD	Annual
Net realized (loss) gain on investments	`DebtAndEquitySecuritiesRealizedGainLoss`	$225.79K	USD	Annual
Net realized (loss) gain on investments	`DebtAndEquitySecuritiesRealizedGainLoss`	$225.79K	USD	1 Quarter
Net realized (loss) gain on investments	`DebtAndEquitySecuritiesRealizedGainLoss`	$-44.00K	USD	1 Quarter
Net change in unrealized depreciation on investments	`DebtAndEquitySecuritiesUnrealizedGainLoss`	$-1.57M	USD	Annual
Net change in unrealized depreciation on investments	`DebtAndEquitySecuritiesUnrealizedGainLoss`	$-1.57M	USD	1 Quarter
Net change in unrealized depreciation on investments	`DebtAndEquitySecuritiesUnrealizedGainLoss`	$-556.73K	USD	1 Quarter
Net realized and unrealized loss on investments	`DebtAndEquitySecuritiesGainLoss`	$-1.34M	USD	Annual
Net realized and unrealized loss on investments	`DebtAndEquitySecuritiesGainLoss`	$-600.72K	USD	1 Quarter
Net Increase in Net Assets Resulting from Operations	`InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease`	$3.05M	USD	1 Quarter
Net Increase in Net Assets Resulting from Operations	`InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease`	$7.84M	USD	1 Quarter
Net Increase in Net Assets Resulting from Operations	`InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease`	$3.05M	USD	Annual
Net investment income - basic (in dollars per share)	`NetInvestmentIncomePerShareBasic`	$0.10	USD	Annual
Net investment income - basic (in dollars per share)	`NetInvestmentIncomePerShareBasic`	$0.19	USD	1 Quarter
Net investment income - diluted (in dollars per share)	`NetInvestmentIncomePerShareDiluted`	$0.10	USD	Annual
Net investment income - diluted (in dollars per share)	`NetInvestmentIncomePerShareDiluted`	$0.19	USD	1 Quarter
Net increase in net assets resulting from operations - basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Net increase in net assets resulting from operations - basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	Annual
Net increase in net assets resulting from operations - basic (in dollars per share)	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net increase in net assets resulting from operations - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Net increase in net assets resulting from operations - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Net increase in net assets resulting from operations - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	Annual
Weighted average shares of common stock outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	42.77M	shares	1 Quarter
Weighted average shares of common stock outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	42.77M	shares	Annual
Weighted average shares of common stock outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	45.42M	shares	1 Quarter
Weighted average shares of common stock outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.77M	shares	1 Quarter
Weighted average shares of common stock outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.42M	shares	1 Quarter
Weighted average shares of common stock outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.77M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net increase in net assets resulting from operations	`ProfitLoss`	$3.05M	USD	1 Quarter
Net increase in net assets resulting from operations	`ProfitLoss`	$7.84M	USD	1 Quarter
Net realized (loss) gain on investments	`DebtAndEquitySecuritiesRealizedGainLoss`	$225.79K	USD	Annual
Net realized (loss) gain on investments	`DebtAndEquitySecuritiesRealizedGainLoss`	$225.79K	USD	1 Quarter
Net realized (loss) gain on investments	`DebtAndEquitySecuritiesRealizedGainLoss`	$-44.00K	USD	1 Quarter
Net change in unrealized depreciation on investments	`DebtAndEquitySecuritiesUnrealizedGainLoss`	$-1.57M	USD	Annual
Net change in unrealized depreciation on investments	`DebtAndEquitySecuritiesUnrealizedGainLoss`	$-1.57M	USD	1 Quarter
Net change in unrealized depreciation on investments	`DebtAndEquitySecuritiesUnrealizedGainLoss`	$-556.73K	USD	1 Quarter
Accretion of original issue discount interest and payment-in-kind interest	`InterestIncomeOperatingPaidInKind`	$253.14K	USD	1 Quarter
Accretion of original issue discount interest and payment-in-kind interest	`InterestIncomeOperatingPaidInKind`	$206.24K	USD	1 Quarter
Decrease in receivable from investments sold	`IncreaseDecreaseInReceivableFromInvestmentsSold`	$-4.42M	USD	1 Quarter
Increase in interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$19.38K	USD	1 Quarter
Increase in interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$469.60K	USD	1 Quarter
Increase in receivable from bank loan repayment	`IncreaseDecreaseInReceivableFromBankLoanRepayment`	$70.75K	USD	1 Quarter
Increase in receivable from bank loan repayment	`IncreaseDecreaseInReceivableFromBankLoanRepayment`	$65.56K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$168.75K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$157.50K	USD	1 Quarter
Increase in accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$122.46K	USD	1 Quarter
Increase in accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$93.28K	USD	1 Quarter
Increase in fees due to investment advisor(a)	`IncreaseDecreaseInFeesDueToInvestmentAdvisor`	$783.87K	USD	1 Quarter
Increase in fees due to investment advisor(a)	`IncreaseDecreaseInFeesDueToInvestmentAdvisor`	$27.25K	USD	1 Quarter
(Increase) decrease in payable for investments purchased	`IncreaseDecreaseInPayableForInvestmentPurchased`	$1.68M	USD	1 Quarter
(Increase) decrease in payable for investments purchased	`IncreaseDecreaseInPayableForInvestmentPurchased`	$-16.63M	USD	1 Quarter
Investments purchased	`PaymentsForPurchaseOfSecuritiesOperatingActivities`	$33.57M	USD	1 Quarter
Investments purchased	`PaymentsForPurchaseOfSecuritiesOperatingActivities`	$8.38M	USD	1 Quarter
Proceeds from investments sold	`ProceedsFromDispositionOfInvestmentOperatingActivity`	$4.05M	USD	1 Quarter
Proceeds from investments sold	`ProceedsFromDispositionOfInvestmentOperatingActivity`	$9.26M	USD	1 Quarter
Repayment of bank loans	`ProceedsFromRepaymentOfLoansToPurchaseCommonStock`	$12.32M	USD	1 Quarter
Repayment of bank loans	`ProceedsFromRepaymentOfLoansToPurchaseCommonStock`	$20.75M	USD	1 Quarter
Total investment activity	`InvestmentIncomeNet`	$-21.64M	USD	1 Quarter
Total investment activity	`InvestmentIncomeNet`	$17.20M	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$35.82M	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.48M	USD	1 Quarter
Issuance of shares of common stock	`ProceedsFromIssuanceOfCommonStock`	$30.00M	USD	1 Quarter
Repurchases of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$15.00M	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$4.45M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.00M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.45M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$16.36M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$522.61K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$32.28M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.06M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.92M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.58M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$32.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.06M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.92M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.58M	USD	Point-in-time
Supplemental cash flow information Interest paid on short-term financing	`InterestPaidNet`	$119.52K	USD	1 Quarter
Supplemental cash flow information Interest paid on short-term financing	`InterestPaidNet`	$41.17K	USD	1 Quarter
Supplemental non-cash information Payment-in-kind ("PIK") interest income	`IncomeTaxesPaidNet`	$61.32K	USD	1 Quarter
Supplemental non-cash information Payment-in-kind ("PIK") interest income	`IncomeTaxesPaidNet`	$87.51K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.