Stock Issuances

12 Months Ended

Dec. 31, 2023

Stock Issuances [Abstract]

Stock Issuances

Note 9. Stock Issuances

As of December 31, 2023 and December 31, 2022, the total number of shares of all classes of capital stock that the Company has the authority to issue was 200,000,000 shares of Common Stock, par value $0.001 per share.

New Stockholders admitted to the Company or existing Stockholders increasing their Capital Commitments at a particular Closing will be required to purchase shares of the Company with an aggregate purchase price necessary to ensure that all Stockholders in the Company have generally contributed the same percentage of their Capital Commitments to the Company immediately following such purchase (a “Catch-up Purchase”) and each such Stockholder shall be issued a number of shares of the Company based on a per share purchase price determined by the Board. A Catch-up Purchase may be made in multiple installments as determined by the Advisor based on the Company’s capital requirements. The per share purchase price shall be at least equal to the NAV per share in accordance with the limitations of Section 23 of the 1940 Act. The Board may set the price per share above the NAV per share based on a variety of factors, including without limitation, the total amount of the Company’s organizational and other expenses that will have accrued following the Company’s Initial Closing.

For the year ended December 31, 2023, the Company entered into subscription agreements (collectively, the “Subscription Agreements”) with new investors, providing for the private placement of common shares. Under the terms of the Subscription Agreements, investors are required to fund drawdowns to purchase common shares up to the amount of their respective capital commitments on an as-needed basis with a minimum of 8 business days’ prior notice. As of December 31, 2023 and December 31, 2022, the Company had received capital commitments totaling $218,337,762 and $219,908,470, respectively.

As of December 31, 2023, net contributions of $204,144,825 had been made by Stockholders and $14,192,937 remained available to be drawn by the Company. As of December 31, 2022, net contributions of $165,406,541 had been made by Stockholders and $54,501,929 remained available to be drawn by the Company.

The following tables summarize the issuance of shares for the years ended December 31, 2023 and 2022 and for the period from May 14, 2021 to December 31, 2021:

Date	Price per share		Shares Issued		Proceeds
For the year ended December 31, 2023:
March 21, 2023	$	25.31		803,600	$	20,339,128
May 15, 2023		25.30		343,695		8,695,500
August 28, 2023		25.49		179,590		4,577,750
December 8, 2023		25.41		198,169		5,035,468
				1,525,054	$	38,647,846
Stock issued in connection with dividend reinvestment plan
January 26, 2023		25.34		86,086		2,181,430
May 5, 2023		25.38		98,060		2,488,754
July 31, 2023		25.56		100,593		2,571,168
November 10, 2023		25.55		114,935		2,936,599
				399,674	$	10,177,951
Total				1,924,728	$	48,825,797

Date	Price per share		Shares Issued		Proceeds
For the year ended December 31, 2022:
March 25, 2022	$	25.59		708,935	$	18,142,000
April 21, 2022		25.73		446,880		11,448,234
September 12, 2022		25.58		441,121		11,283,885
November 22, 2022		25.25		2,186,113		55,199,312
				3,783,049	$	96,073,431
Stock issued in connection with dividend reinvestment plan
January 14, 2022		25.32		24,306		615,437
May 20, 2022		25.64		21,875		560,883
July 29, 2022		25.51		36,141		921,955
November 4, 2022		25.34		49,212		1,247,052
				131,534		3,345,327
Total				3,914,583	$	99,418,758

Date	Price per share		Shares Issued		Proceeds
Period from May 14, 2021* to December 31, 2021:
May 14, 2021	$	25.00		1,688,601	$	42,215,029
June 11, 2021		25.19		629,240		15,851,000
August 17, 2021		25.10		244,608		6,139,651
November 4, 2021		25.88		740,397		19,161,474
				3,302,846	$	83,367,154
Stock issued in connection with dividend reinvestment plan
August 20, 2021		25.07		11,997		300,751
November 19, 2021		25.78		5,631		145,176
				17,628		445,927
Total				3,320,474	$	83,813,081

* Date of formation of the Company.