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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Investment income        
Total investment income $ 71,526,225 $ 53,960,838 $ 127,255,534 $ 104,269,188
Operating expenses        
Interest and other debt expenses 19,726,829 12,288,304 32,957,053 23,837,475
Incentive fees 6,815,672 5,855,495 12,696,050 11,245,191
Management fees 6,563,189 6,095,736 12,382,694 11,973,275
Professional fees 681,923 318,778 1,601,599 773,128
Administrative expenses 594,208 357,803 1,155,211 734,347
Director fees 197,500 208,819 414,219 559,819
Insurance expense 205,953 138,575 351,066 292,578
Custody fees 99,145 91,330 189,065 181,916
Other operating expenses 816,274 1,001,519 1,421,772 1,658,413
Total operating expenses 35,700,693 26,356,359 63,168,729 51,256,142
Net investment income before taxes 35,825,532 27,604,479 64,086,805 53,013,046
Excise tax expense 0 0 0 35,440
Net investment income 35,825,532 27,604,479 64,086,805 52,977,606
Net realized gain (loss):        
Net realized gain (loss) (35,513,930) (394,628) (35,682,007) (31,024,332)
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) [1] (51,588,119) (10,959,165) (74,624,174) 17,011,291
Net realized and unrealized gain (loss) (87,102,049) (11,353,793) (110,306,181) (14,013,041)
Net increase (decrease) in net assets resulting from operations $ (51,276,517) $ 16,250,686 $ (46,219,376) $ 38,964,565
Basic earnings (loss) per share $ (0.6) $ 0.28 $ (0.63) $ 0.67
Diluted earnings (loss) per share $ (0.6) $ 0.28 $ (0.63) $ 0.67
Basic weighted average common shares outstanding 85,591,134 57,767,264 73,819,497 57,767,264
Diluted weighted average common shares outstanding 85,591,134 57,767,264 73,819,497 57,767,264
Non-Controlled, Non-Affiliated Investments        
Investment income        
Interest income (excluding PIK) $ 63,562,637 $ 46,264,863 $ 112,208,830 $ 91,418,011
PIK interest income: 2,034,356 3,631,465 4,440,033 5,216,299
Dividend income 594,372 255,437 906,696 558,179
Other income 3,293 21,558 5,346 354,822
Net realized gain (loss):        
Net realized gain (loss) (22,703,792) (394,628) (22,871,869) (31,024,332)
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) [1] (57,619,007) (10,882,711) (63,771,066) 21,089,611
Non-Controlled, Affiliated Investments        
Investment income        
Interest income (excluding PIK) 384,684 47,703 732,319 93,238
PIK interest income: 0 0 92,675 0
Dividend income 1,018,486 653,143 1,732,189 1,287,268
Other income 0 0 0 45,650
Net realized gain (loss):        
Net realized gain (loss) (12,810,138) 0 (12,810,138) 0
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) [1] 8,310,670 919,061 (6,067,358) (1,208,066)
Controlled Investments        
Investment income        
Interest income (excluding PIK) 2,696,570 2,775,676 5,555,650 4,984,728
PIK interest income: 353,752 310,993 703,721 310,993
Dividend income 878,075 0 878,075 0
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) [1] (2,137,940) (995,515) (4,650,847) (2,870,254)
Interest Rate Swap        
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) [1] $ (141,842) $ 0 $ (134,903) $ 0
[1]

(1) Includes $21,347,357 change in unrealized appreciation from application of Merger accounting under ASC 805 for the six months ended June 30, 2024 (see Note 12).