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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

9. Subsequent Events

On July 15, 2024, the Company paid approximately $19.3 million, or $0.08 per common share, in distributions to shareholders of record as of June 28, 2024.

On July 18, 2024, the Company declared a monthly cash distribution of $0.08 per common share. The distribution is payable on August 15, 2024, to shareholders of record as of July 31, 2024.

On July 17, 2024, the Company amended the 2017 $85 million term loan facility, which increased the amount of the term loan facility to $130 million, with the additional $45 million funded at closing, extended the maturity date to July 25, 2026 and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month SOFR plus a 0.10% SOFR spread adjustment plus a margin ranging from 1.35% to 2.20%, depending on the Company's leverage ratio, as calculated under the terms of the amended credit agreement. Subject to certain conditions, including covenant compliance and additional fees, the maturity date of the $130 million term loan facility may be extended by the Company to July 25, 2027.

During the first half of July 2024, the Company purchased, under its Share Repurchase Program, approximately 0.5 million of its common shares, at a weighted-average market purchase price of approximately $14.18 per common share, for an aggregate purchase price of approximately $7.6 million, including commissions. As of July 31, 2024, approximately $312.3 million remained available for purchase under the Share Repurchase Program.