EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2025

The following information sets forth the computation of the Company's basic and diluted net increase in net assets per share resulting from operations for the three months ended June 30, 2025 and 2024 (dollars and shares in thousands):


	Three Months Ended June 30,
	2025		2024
Earnings per share - basic
Numerator for basic earnings per share	$	27,001	$	14,035
Adjustment for income allocated to participating securities	(329)		—
Numerator for basic earnings per common share	26,672		14,035
Denominator for basic earnings per common share	53,517		45,665
Basic earnings per common share	$	0.50	$	0.31
Earnings per share - diluted (1)
Numerator for increase in net assets per share	$	26,672	$	14,035
Adjustment for interest and amortization on 2029 Convertible Notes	3,317		—
Numerator for diluted earnings per common share	$	29,989	$	14,035
Denominator for basic weighted average common share	53,517		45,665
Adjustment for dilutive effect of 2029 Convertible Notes	9,260		—
Denominator for diluted weighted average common shares	62,777		45,665
Diluted earnings per common share	$	0.48	$	0.31

(1)In applying the if-converted method, conversion is not assumed for purposes of computing diluted earnings per share if the effect would be anti-dilutive. For the three months ended June 30, 2025 and 2024, there was no anti-dilution.