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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2023
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 March 31, 2023:

Activity Type

  

Date

  

Company Name

  

Company Description

  

Investment Amount

  

Instrument Type

Add-On Investment

April 3, 2023

EH Real Estate Services, LLC*

Offers residential property brokerage, title & settlement, and property and casualty insurance brokerage services to home buyers and sellers

$

570,279

Senior Secured – First Lien

Add-On Investment

April 11, 2023

ADS Group Opco, LLC*

Full-service manufacturer for original equipment manufacturers, prime contractors, and Tier I suppliers across the defense, space, and aerospace industries

$

88,733

Equity

Add-On Investment

April 13, 2023

Tower Arch Infolinks Media, LP*

Advertising placement partner for small to mid-sized publishers

$

1,093

Equity

Add-On Investment

April 14, 2023

BLP Buyer, Inc.*

Distributor of lifting solutions

$

1,729,958

Senior Secured – First Lien

$

229,010

Equity

Add-On Investment

April 17, 2023

Axis Portable Air, LLC*

Air conditioning, heating, and air quality equipment rental company

$

1,893,610

Senior Secured – First Lien

Add-On Investment

April 27, 2023

CompleteCase, LLC*

Provider of online uncontested divorce solutions

$

66,667

Revolver commitment

$

111,408

Equity

New Investment

April 28, 2023

Impact Home Services, LLC

Residential, garage door, electrical, and plumbing services provider

$

5,936,899

Senior Secured – First Lien

$

100,000

Revolver commitment

$

310,844

Equity

New Investment

May 1, 2023

RIA Advisory, LLC

Provider of Oracle software implementation services

$

6,000,000

Senior Secured – First Lien

$

100,000

Revolver commitment

$

243,467

Equity

* Existing portfolio company

ATM Program

Since March 31, 2023, the Company issued 587,363 shares under the ATM Program, for gross proceeds of $8,149,469 and underwriting and other expenses of $122,307. The average per share offering price of shares issued under the ATM Program subsequent to March 31, 2023 was $13.87. The Advisor agreed to reimburse the Company for underwriting fees and expenses to the extent the issuance of shares would be dilutive in nature. As such, the Advisor reimbursed the Company $207,668 which resulted in net proceeds of $8,234,829, or $14.02 per share.

Credit Facility

The outstanding balance under the Credit Facility as of May 9, 2023 was $200,422,000.

Dividends Declared

On April 19, 2023, the Board declared a regular monthly dividend for each of April 2023, May 2023, and June 2023 as follows:

Ex-Dividend

Record

Payment

Amount per

Declared

    

Date

    

Date

    

Date

    

Share

4/19/2023

4/28/2023

5/1/2023

5/15/2023

$

0.1333

4/19/2023

 

5/30/2023

5/31/2023

6/15/2023

$

0.1333

4/19/2023

 

6/29/2023

6/30/2023

7/14/2023

$

0.1333