SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2026

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 12 — SUBSEQUENT EVENTS

The Company’s management has evaluated subsequent events through the date of issuance of the financial statements included herein. There have been no subsequent events that require recognition or disclosure in these financial statements except for the following described below.

Investment Portfolio

The Company invested in the following portfolio companies subsequent to June 30, 2026:

Activity Type	Date	Company Name	Company Description	Investment Amount		Instrument Type
Add-On Investment	July 2, 2026	Blade Landscape Investments, LLC*	Regional provider of commercial landscaping services	$	5,250	Equity
New Investment	July 16, 2026	Emergent Software	Microsoft-centric data, AI, and cloud IT services partner	$	3,197,377	Senior Secured – First Lien
				$	2,664,481	Delayed Draw Term Loan Commitment
				$	500,000	Revolver Commitment
				$	306,732	Equity
New Investment	August 5, 2026	LJ Welding Automation Ltd.	Manufacturer of material handling and welding automation systems	$	7,693,688	Senior Secured – First Lien
				$	500,000	Revolver Commitment
				$	303,470	Equity

* Existing portfolio company

The Company realized the following portfolio company investment subsequent to June 30, 2026:

Activity Type	Date	Company Name	Company Description	Proceeds Received		Instrument Type
Full Repayment	July 1, 2026	General LED OPCO, LLC	Provider of LED lighting systems and modules	$	4,500,000	Senior Secured – Second Lien
Full Repayment	July 27, 2026	MacKenzie-Childs Acquisition, Inc.	Lifestyle home décor brand	$	86,331	Senior Secured – First Lien
Full Repayment	July 30, 2026	U.S. Expediters, LLC	Reseller of CPAP machines and accessories	$	14,236,513	Senior Secured – First Lien

Credit Facility

The outstanding balance under the Credit Facility as of August 10, 2026 was $211,740,000.

SBA Licensing

On July 14, 2026, the Company received a license from the SBA for the SBIC III subsidiary, which allows the Company to contribute $125,000,000 of equity and draw up to $250,000,000 of SBA-guaranteed debentures, subject to the increased family of funds limit of $475,000,000 across all of the Company’s SBIC subsidiaries and applicable SBA regulations and policies.

Share Repurchase Program

Since June 30, 2026, we repurchased 192,974 shares of our common stock under the Repurchase Program at a weighted-average purchase price of $7.95 per share.

Dividends Declared

On July 16, 2026, the Board declared a regular monthly dividend for each of July 2026, August 2026, and September 2026 as follows:

	Record	Payment	Amount per
Declared	Date	Date	Share
July 16, 2026	July 31, 2026	August 14, 2026	$	0.0833
July 16, 2026	August 31, 2026	September 15, 2026	$	0.0833
July 16, 2026	September 30, 2026	October 15, 2026	$	0.0833