Discretionary Repurchase of Shares of Common Stock and Distributions

6 Months Ended

Jun. 30, 2024

Discretionary Repurchase of Shares of Common Stock and Distributions [Abstract]

Discretionary Repurchase of Shares of Common Stock and Distributions

Note 10. Discretionary Repurchase of Shares of Common Stock and Distributions

Beginning with the quarter ended September 30, 2022, the Company began to conduct quarterly tender offers, at the Board’s discretion, in accordance with the requirements of Rule 13e-4 under the Exchange Act and the 1940 Act, to permit Stockholders to tender their shares of common stock at a specific per share price (“Purchase Price”) based on the Company’s NAV as of the last date of the quarter in which the tender offer is conducted. The Company intends to conduct each tender offer to repurchase up to 2.5% of the number of shares of common stock outstanding as of the end of the prior quarter in which the tender offer is conducted, subject to numerous restrictions that limit Stockholders’ ability to sell their shares of common stock.

The following tables summarize the repurchase of shares for the six months ended June 30, 2024 and 2023.

Quarter Ended	Purchase Price			Shares Repurchased		Amount Paid in Cash
Stock repurchased in connection with tender offer
March 29, 2024		$	25.10		192,187.05		$	4,823,944
June 28, 2024			24.38		190,664.58			4,648,553
Total					382,851.63		$	9,472,497

As of June 30, 2024, the Tender Offer conducted in quarter ending June 30, 2024, remains fully payable as shown on the Statements of Assets and Liabilities.

Quarter Ended	Purchase Price			Shares Repurchased		Amount Paid in Cash
Stock repurchased in connection with tender offer
December 31, 2022*		$	25.21		108,930.54		$	2,746,138
March 31, 2023			25.80		164,813.65			4,252,193
June 30, 2023			26.06		180,211.21			4,696,329
Total					453,955.40		$	11,694,660

*
On December 15, 2022 the Company commenced a tender offer for repurchase of common shares. The tender offer expired on January 16, 2023 and the shares of common stock repurchased in connection with the tender offer were recorded and paid out as capital activity for 2023.

The following table summarizes the settlement of distributions declared and recorded as of December 31, 2023 and April 3, 2024, respectively, and the subsequent payment and issuance of those distributions for the six months ended June 30, 2024:

Date Declared	Record Date	Payment/Issuance Date	Amount Per Share			Amount Paid in Cash			Amount Settled via Newly Issued Shares			Total
For the six months ended June 30, 2024
December 31, 2023	December 31, 2023	January 31, 2024		$	0.79		$	2,961,399		$	3,000,821		$	5,962,220
April 3, 2024	April 3, 2024	May 16, 2024			0.75			3,061,044			2,838,215			5,899,259
Total				$	1.54		$	6,022,443		$	5,839,036		$	11,861,479

The following table summarizes the settlement of distributions declared and recorded as of December 31, 2022 and April 3, 2023, respectively, and the subsequent payment and issuance of those distributions for the six months ended June 30, 2023:

Date Declared	Record Date	Payment/Issuance Date	Amount Per Share			Amount Paid in Cash			Amount Settled via Newly Issued Shares			Total
For the six months ended June 30, 2023:
December 31, 2022	December 31, 2022	January 26, 2023		$	0.66		$	2,169,650		$	2,181,430		$	4,351,080
April 3, 2023	April 3, 2023	May 5, 2023			0.69			2,485,103			2,488,754			4,973,857
Total				$	1.35		$	4,654,753		$	4,670,184		$	9,324,937