Stock Issuances and Share Repurchase Program

3 Months Ended

Mar. 31, 2025

Stockholders' Equity Note [Abstract]

Stock Issuances and Share Repurchase Program

Stock Issuances and Share Repurchase Program

Stock Issuances

As of March 31, 2025, the total number of shares of all classes of capital stock that the Company has the authority to issue was 300,000,000 shares of common stock, par value $0.001 per share.

The following tables summarize the issuance of shares during the three months ended March 31, 2025 and 2024:

Date	Price Per Share		Shares Issued	Proceeds
Three months ended March 31, 2025:
March 20, 2025	$	10.37	36,340,819	$	376,854
Total			36,340,819	$	376,854

Date	Price Per Share		Shares Issued	Proceeds
Three months ended March 31, 2024:
March 15, 2024	$	10.24	25,864,010	$	264,847
Total			25,864,010	$	264,847

During the three months ended March 31, 2025 and 2024, the Company also issued 2,292,918 and 1,406,628 shares, with an aggregate value of $23,777 and $14,404, respectively, under the DRIP as disclosed in Note 9.

Share Repurchase Program

During 2022, the Company commenced a quarterly share repurchase program in which the Company intends to repurchase, in each quarter, up to 5% of the shares of common stock outstanding as of the close of the previous calendar quarter (the “Share Repurchase Program”), subject to the discretion of the Board. Any such repurchases are subject to approval by the Board, in its discretion, and the availability of cash to fund such repurchases. The Board may amend, suspend or terminate the share repurchase program if it deems such action to be in the Company’s best interest and the best interest of the Company’s stockholders. As a result, share repurchases may not be available each quarter. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 under the Securities Exchange Act of 1934 and the 1940 Act and subject to compliance with applicable covenants and restrictions under the Company’s financing arrangements. All shares repurchased by the Company pursuant to the terms of each tender offer will be redeemed and thereafter will be authorized and unissued shares.

On August 23, 2024, the Board approved the Amended and Restated Dividend Reinvestment Plan (the “Amended and Restated DRIP”) solely to appoint a new transfer agent as the Plan Administrator (as defined in the Amended and Restated DRIP). The Amended and Restated DRIP became effective on November 1, 2024.

The following tables summarize the total shares repurchased that were validly tendered under the Share Repurchase Program and not withdrawn during the three months ended March 31, 2025 and 2024:

Date	Price Per Share		Shares Repurchased	Total Cost
Three months ended March 31, 2025:
March 28, 2025	$	10.37	774,968	$	8,037
Total			774,968	$	8,037

Date	Price Per Share		Shares Repurchased	Total Cost
Three months ended March 31, 2024:
March 28, 2024	$	10.24	1,996,254	$	20,442
Total			1,996,254	$	20,442