The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

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Borrower

V•• I••••••••• H•••••••• I••

Application Softwaregroup grade Aon a schedule nowsponsor D•• C•••••• M••••••••• L•• carried
Also written as: VertexOne
Principal held
at least $55.0M
sum of BDC pieces, a lower bound
Fair value
$54.7M
101c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Sep 24, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
12
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $45.9M101cSOFR+700 bp
PIK 4.00%
Dec 12, 20293
second lien term loan second lienat least $9.1M101c
PIK 12.50%
Dec 12, 20303
Lenders
every BDC piece at the latest quarter end
BDCInstrumentPrincipalFair valueRate
B•• I••••••••• C•••term loan second lien
Second Lien/Senior Secured Debt Interest Rate 12.50% PIK Maturity 12/12/30
$2.1M$2.0M
104c
PIK 12.50%
B•• I••••••••• C•••term loan first lien
First Lien/Senior Secured Debt Interest Rate 10.92% Reference Rate and Spread SOFR + 7.00%
$10.4M$10.4M
106c
SOFR+700 bp
PIK 1.00%
R••••• G••••• F•••••• C••••term loan second lien
Investment Type Second Lien Interest Rate FIXED 12.50% PIK, 33.50% ETP Initial Acquisition
$7.1M$6.8M
100c
PIK 12.50%
R••••• G••••• F•••••• C••••term loan first lien
Investment Type Senior Secured Interest Rate SOFR+7.00% 8.00%floor PIK4.00% ETP Acquisitio
$35.5M$35.5M
100c
SOFR+700 bp
PIK 4.00%
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$55.0M$54.7M101c4
Mar 31, 20262$54.7M$53.9M100c4
Dec 31, 20252$89.6M$88.5M100c5
Sep 30, 20252$53.9M$53.1M101c4
Jun 30, 20252$47.5M$47.0M100c4
Mar 31, 20253$53.1M$52.5M100c5
Dec 31, 20243$59.0M$57.8M99c7
Sep 30, 20241$91.1M$89.3M97c0
Jun 30, 20241$90.0M$89.6M98c0
Mar 31, 20241$89.0M$88.5M98c0
Dec 31, 20231$88.0M$87.8M99c0
Sep 30, 20231$86.9M$86.7M99c0
Jun 30, 20231$85.9M$85.4M99c0
Mar 31, 20231$85.0M$84.5M99c0
Dec 31, 20221$255M$255M100c0
What changed
Every change including routine ones
Identity
Group key
VTX INTERMEDIATE HOLDINGSderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 3 BDCsderived
Industry
Application Softwarereportedas one filer wrote it