Financial Highlights

3 Months Ended

Mar. 31, 2024

Statement of Financial Position [Abstract]

11. FINANCIAL HIGHLIGHTS

The below table presents the schedule of financial highlights of the Company:


	For the Three Months Ended
	March 31, 2024			March 31, 2023
Per Share Data:(1)
NAV, beginning of period	$	14.62		$	14.61
Net investment income		0.55			0.46
Net realized and unrealized gains (losses)(2)		(0.18	)		(0.21	)
Income tax provision, realized and unrealized gains(3)		—			—
Net increase in net assets from operations		0.37			0.25
Issuance of common stock, net of underwriting and offering costs		0.01			0.03
Distributions declared		(0.45	)		(0.45	)
Total increase (decrease) in net assets		(0.07	)		(0.17	)
NAV, end of period	$	14.55		$	14.44
Market price, end of period	$	14.98		$	13.65
Shares outstanding, end of period		112,103,346			109,463,144
Weighted average shares outstanding		110,076,876			104,591,739
Total return based on NAV(4)		2.53	%		1.98	%
Total return based on market value(5)		5.34	%		2.66	%
Supplemental Data/Ratio: (6)
Net assets, end of period	$	1,631,606		$	1,580,445
Ratio of net expenses to average net assets		12.70	%		15.88	%
Ratio of net expenses before voluntary waivers to average net assets		12.70	%		16.41	%
Ratio of net expenses (without incentive fees and interest and other debt expenses) to average net assets		3.05	%		3.17	%
Ratio of interest and other debt expenses to average net assets		6.92	%		7.28	%
Ratio of net incentive fees to average net assets		2.73	%		5.43	%
Ratio of total expenses to average net assets		12.70	%		16.41	%
Ratio of net investment income to average net assets		15.25	%		12.82	%
Portfolio turnover		5	%		1	%

(1)

The per share data was derived by using the weighted average shares outstanding during the applicable period, except for distributions declared and issuance of common stock in connection with the Merger, which reflects the actual amount per share for the applicable period.

(2)

The amount shown may not correspond for the period as it includes the effect of the timing of the distribution and the issuance of common stock.

(3)

Amount rounds to less than $0.01.

(4)

Calculated as the change in NAV per share during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s DRIP.

(5)

Calculated as the change in market value per share during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s DRIP.

(6)

Ratios are annualized.