DFX Intelligence
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I•••••••• I••
Borrower · Internet Software and Services
No date on record · this record
group grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: Inc.First Lien
No date on record · this record
Nothing material in the last 200 days. Last change: 31 Mar 2025, Non-accrual at 2 of 2 lenders on the latest schedules, first placed in Q4 2023.
Mark path, consensus per quarter end
101¢ · 100¢ · 83¢ · 67¢ · 63¢Q1 2024 to Q1 2025
Where each lender marks it on the first lien term loan, 2 points apart
62¢64¢
Principal held
at least $25.5M
sum of BDC pieces, a lower bound
Fair value
$14.6M
60c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jun 8, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2025
Events
9
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B•••••••• T•• C•••••• C•••• | $20.3M | 64¢ | -3 pts |
| B•••••••• D••••• L•••••• C•••• | $5.21M | 62¢ | -4 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% C••• +2.50% PIK T•••• C••••• 11. | $19.8M | $12.1M 64c | SOFR+500 bp PIK 2.50% |
| B•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% C••• + 2.50% PIK T•••• C••••• 11 | $4.7M | $2.9M 62c | SOFR+500 bp PIK 2.50% |
| B•••••••• T•• C•••••• C•••• | delayed draw term loan first lien F•••• L••• D•••••• D••• T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 7.00% T•••• C••••• 11.32% | $509,411 | -$274,717 -55c | SOFR+700 bp |
| B•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien F•••• L••• D•••••• D••• T••• L••• Ref S•••(M) F•••• 0.75% S••••• 7.00 T•••• C••••• 11.32% | $483,947 | -$65,734 -55c | SOFR+700 bp |
Capital structure as the BDCs see itlatest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2025 | at least $24.5M | 63c | SOFR+500 bp PIK 2.50% | Jun 8, 2028 | 2 |
| first lien delayed draw term loan first lien exited Mar 31, 2025 | at least $993,358 | n/a | SOFR+700 bp | Jun 8, 2028 | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 2 | $25.5M | $14.6M | 60c | 2 |
| Dec 31, 2024 | 2 | $49.8M | $32.3M | 67c | 4 |
| Sep 30, 2024 | 2 | $24.7M | $19.7M | 83c | 2 |
| Jun 30, 2024 | 2 | $24.5M | $23.6M | 100c | 2 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 2 | $24.3M | $23.7M | 101c | 2 |
| Dec 31, 2023 | 3 | $24.2M | $23.5M | 99c | 3 |
| Sep 30, 2023 | 3 | $24.0M | $23.3M | 99c | 3 |
| Jun 30, 2023 | 3 | $23.9M | $23.3M | 123c | 3 |
| Mar 31, 2023 | 3 | $23.7M | $23.1M | 123c | 3 |
| Dec 31, 2022 | 3 | $46.5M | $45.4M | 100c | 5 |
What changed
- Default reported on Form N-PORTJun 30, 2025••• Locked
- Facility left every BDC scheduleMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
Full timeline · 15 eventsShow fewer
- Marked down across lendersDec 31, 2024
- Placed on non-accrualDec 31, 2024
- Placed on non-accrualDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Placed on non-accrualDec 31, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- INMOMENTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Internet Software and Servicesreportedas one filer wrote it
Position history
18 field-level changes across filed schedules, latest first
- Position exitedB•••••••• T•• C•••••• C•••• · from $19.8M2025-06-30
- Position exitedB•••••••• D••••• L•••••• C•••• · from $4.7M2025-06-30
- Position exitedB•••••••• D••••• L•••••• C•••• · from $483,9472025-06-30
- Position exitedB•••••••• T•• C•••••• C•••• · from $509,4112025-06-30
- New positionB•••••••• D••••• L•••••• C•••• · at $483,9472025-03-31
- Principal decreasedB•••••••• D••••• L•••••• C•••• · $9.6M to $4.7M2025-03-31
- New positionB•••••••• T•• C•••••• C•••• · at $509,4112025-03-31
- Principal decreasedB•••••••• T•• C•••••• C•••• · $40.2M to $19.8M2025-03-31
- Marked downB•••••••• T•• C•••••• C•••• · 83.0% of cost to 67.5% of cost2024-12-31
- Principal increasedB•••••••• T•• C•••••• C•••• · $19.9M to $40.2M2024-12-31
Each line is one position compared between two consecutive BDC schedules of investments: principal, fair value mark, spread, PIK and maturity, as filed with the SEC.