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Capital Transactions
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Capital Transactions Capital Transactions
Distributions: The Company intends to make quarterly distributions to stockholders that represent, over time, substantially all of its net investment income. In addition, although the Company may distribute at least annually net realized capital gains, net of taxes if any, out of assets legally available for such distribution, the Company may also retain such capital gains for investment through a deemed distribution. If the Company makes a deemed distribution, stockholders will be treated for U.S. federal income tax purposes as if they had received an actual distribution of the capital gains, net of taxes.
The Company may be limited in its ability to make distributions to stockholders due to the BDC asset coverage requirements of the 1940 Act. In addition, distributions from OFSCC-FS to the Company were restricted by the terms and conditions of the BNP Facility. At December 31, 2025, OFSCC-FS had cash of $2,443, of which $0 was available for distribution to the Company.
The following table summarizes distributions declared and paid for the years ended December 31, 2025, 2024 and 2023:
Date DeclaredRecord DatePayment DateAmount
Per Share		Cash
Distribution
DRIP Shares
Issued(1)
DRIP Shares
Value(1)
Year ended December 31, 2025
February 26, 2025March 21, 2025March 31, 2025$0.34 $4,555 — $— 
April 29, 2025June 20, 2025June 30, 20250.34 4,556 — — 
July 29, 2025September 19, 2025September 30, 20250.34 4,555 — — 
October 28, 2025December 19, 2025December 31, 20250.17 2,278 — — 
$1.19 $15,944 — $— 
Year ended December 31, 2024
February 28, 2024March 18, 2024March 28, 2024$0.34 $4,555 — $— 
April 30, 2024June 18, 2024June 28, 20240.34 4,556 — — 
July 30, 2024September 20, 2024September 30, 20240.34 4,555 — — 
October 29, 2024December 20, 2024December 31, 20240.34 4,555 — — 
$1.36 $18,221 — $— 
Year ended December 31, 2023
February 28, 2023March 24, 2023March 31, 2023$0.33 $4,421 — $— 
May 2, 2023June 23, 2023June 30, 20230.33 4,422 — — 
August 1, 2023September 22, 2023September 29, 20230.34 4,555 — — 
October 31, 2023December 22, 2023December 29, 20230.34 4,556 — — 
$1.34 $17,954 — $— 
(1) During the years ended December 31, 2025, 2024 and 2023, the Company directed the DRIP plan administrator to purchase shares on the open market in order to satisfy the DRIP obligation to deliver shares of common stock.
The following table represents DRIP participation for the years ended December 31, 2025, 2024 and 2023, respectively:
For the Year EndedTotal DRIP ParticipationDRIP Shares IssuedNumber of Shares PurchasedAverage Value Per Share
December 31, 2025$290 — 37,620 $7.70 
December 31, 2024330 — 37,499 8.81 
December 31, 2023281 — 25,690 10.94 
Since the Company’s initial public offering in 2012 and through December 31, 2025, distributions to stockholders total $200,446, or $16.54 per share on a cumulative basis.
Distributions of current year or accumulated prior years ICTI will be characterized as distributions of ordinary income. Distributions in excess of the Company’s current and accumulated ICTI would be treated first as a return of capital to the extent of a stockholder’s tax basis, and any remaining distributions would be treated as a capital gain. For the year ended December
31, 2025, the Company’s estimated distributions paid to stockholders were comprised of a tax return of capital of 67.2% and ordinary income of 32.8%. The determination of the tax attributes of the Company’s distributions is made annually as of the end of its fiscal year based upon its estimated ICTI and distributions paid for the full year. Each year, if required, a statement on Form 1099-DIV identifying the source of the distribution is mailed to the Company’s stockholders. The calculation of 2025 U.S. federal taxable income is based on certain estimated amounts, including information received from third parties and, as a result, actual 2025 U.S. federal taxable income will not be finally determined until the Company’s 2025 U.S. federal tax return is filed in 2026.
Stock repurchase program: The Company has an open market stock repurchase program to acquire up to $10,000 of its outstanding common stock under Rule 10b-18 of the Exchange Act (the “Stock Repurchase Program”). On April 30, 2024, the Board extended the Stock Repurchase Program for an additional two-year period ending May 22, 2026. Under the Stock Repurchase Program, the Company may repurchase shares in open-market transactions, including through block purchases, depending on prevailing market conditions and other factors. The Company expects the Stock Repurchase Program to be in place through May 22, 2026, or until the approved dollar amount has been used to repurchase shares. The Stock Repurchase Program may be extended, modified or discontinued at any time for any reason.
During the years ended December 31, 2025, 2024 and 2023, the Company did not make any repurchases of its common stock on the open market under the Stock Repurchase Program. As of December 31, 2025, the approximate dollar value of shares remaining that may be repurchased under the program was $9,642.