Company: PNNT
Filing Date: 2025-11-24
Form Type: 10-K
Source: 0001193125-25-293703
Chunk: 98

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-11-24
Form: 10-K
Item: Item 1C
Chunk 98
---
 measurement attributes of both our assets and liabilities while mitigating volatility in earnings from using different measurement attributes. Due to that election and in accordance with GAAP, we incurred expenses of $0.3 million, zero, and zero related to amendment costs on the Truist Credit Facility during the years ended September 30, 2025, 2024, and 2023, respectively. ASC 825-10 establishes presentation and disclosure requirements designed to facilitate comparisons between companies that choose different measurement attributes for similar types of assets and liabilities and to more easily understand the effect on earnings of a company’s choice to use fair value.  ASC 825-10 also requires entities to display the fair value of the selected assets and liabilities on the face of the Consolidated Statements of Assets and Liabilities and changes in fair value of the Truist Credit Facility are reported in our Consolidated Statements of Operations. We did not elect to apply ASC 825-10 to any other financial assets or liabilities, including the 2024 Notes, the 2026 Notes, the 2026 Notes-2, and the SBA debentures.For the year ended September 30, 2025, 2024, and 2023 the Credit Facility had a net change in unrealized appreciation (depreciation) of $(0.1) million, $(4.4) million and $(3.8) million, respectively. As of September 30, 2025, 2024, and 2023,  the net unrealized appreciation (depreciation) on Truist Credit Facility totaled $(1.0) million,  $(1.1) million, and $(5.5) million, respectively. We use an independent valuation service to measure the fair value of our Truist Credit Facility  in a manner consistent with the valuation process that our board of directors uses to value our investments. 6. TRANSACTIONS WITH AFFILIATED COMPANIESAn affiliated portfolio company is a company in which we have ownership of 5% or more of its voting securities. A portfolio company is generally presumed to be a non-controlled affiliate when we own at least 5% but 25% or less of its voting securities and a controlled affiliate when we own more than 25% of its voting securities. Transactions related to our funded investments with both controlled and non-controlled affiliates for the year ended September 30, 2025 and 2024 were as follows ($ in thousands): 

         Name of Investment