Share Data and Distributions

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Share Data and Distributions

Share Data and Distributions

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended

June 30, 2025 and June 30, 2024:

	For the three months ended June 30, 2025	For the three months ended June 30, 2024	For the six months ended June 30, 2025	For the six months ended June 30, 2024
Earnings (loss) per common share (basic and diluted):
Net increase (decrease) in net assets resulting from operations	$9,105	$6,481	$20,252	$14,349
Weighted average common shares outstanding	24,217,260	22,178,576	24,098,036	21,880,114
Earnings (loss) per common share (basic and diluted):	$0.38	$0.29	$0.84	$0.66

Capital Activity

The Company is authorized to issue 50,000,000 shares of preferred stock at a par value of $0.001 per share and

450,000,000 shares of common stock at a par value of $0.001 per share. The Company has entered into subscription

agreements in which investors have made capital commitments to purchase shares of the Company's common stock (the

“Subscription Agreements”) with several investors, providing for the private placement of the Company’s common stock.

Under the terms of the Subscription Agreements, investors are required to fund drawdowns to purchase the Company’s

common stock at a price per share equal to the most recent NAV per share as determined by the Board (subject to the

adjustment to the extent required by Section 23 of the 1940 Act) up to the amount of their respective capital subscriptions

on an as-needed basis as determined by the Company with a minimum of ten business days prior notice.

As of June 30, 2025 and December 31, 2024, the Company had closed capital commitments totaling $410.7 million and

$409.8 million, respectively, for the private placement of the Company's common stock, of which $66.1 million and $66.7

million, respectively, were uncalled.

Share Issuance Date	Shares Issued	Amount	Average Offering Price per Share
March 26, 2025	116,132	$1,721	$14.82

Share Issuance Date	Shares Issued	Amount	Average Offering Price per Share
April 29, 2024	733,093	$10,996	$15.00

Distributions

Distributions to common stockholders are recorded on the ex-dividend date. The Company elected to be taxed as a RIC

under the Code for its taxable year ending December 31, 2024, and anticipates continuing to make such election in future

taxable years. As a RIC, the Company is required to distribute dividends each tax year as a RIC to its stockholders of an

amount generally at least equal to 90% of its investment company taxable income, determined without regard to any

deduction for dividends paid, in order to be eligible for tax benefits allowed to a RIC under Subchapter M of the Code. The

Company anticipates paying out as a distribution all or substantially all of those amounts. The amount to be paid out as a

dividend is determined by the Board and is based on management’s estimate of the Company’s annual taxable income. Net

realized capital gains, if any, may be distributed to stockholders or retained for reinvestment.

The Company has adopted the DRIP that provides for the automatic reinvestment of all cash distributions declared by the

Board, unless a stockholder elects to “opt out” of the DRIP. As a result, if the Board declares a cash distribution, then the

stockholders who have not “opted out” of the DRIP will have their cash distributions automatically reinvested in additional

shares of common stock, rather than receiving the cash distribution. The Company reserves the right to use primarily newly

issued shares to implement the DRIP, whether the shares are trading at a price per share at or above NAV. NAV is

determined as of the latest available quarter end before such distribution. However, the Company reserves the right to

purchase shares in the open market in connection with the implementation of the DRIP. In the event the price per share is

trading at a discount to NAV, the Company intends to purchase shares in the open market rather than issue new shares.

For the six months ended June 30, 2025 the following table summarizes the distributions declared on shares of the

Company’s common stock and shares distributed pursuant to the DRIP to stockholders who had not opted out of the DRIP:

Date Declared	Record Date	Payment Date	Amount	Amount Per Share	DRIP Shares Issued
March 25, 2025	March 25, 2025	May 6, 2025	$8,393	$0.35	182,443
June 27, 2025	June 27, 2025	August 1, 2025	$8,503	$0.35	201,754

For the six months ended June 30, 2024 the following table summarizes the distributions declared on shares of the

Company’s common stock and shares distributed pursuant to the DRIP to stockholders who had not opted out of the DRIP:

Date Declared	Record Date	Payment Date	Amount	Amount Per Share	DRIP Shares Issued
March 26, 2024	March 22, 2024	May 06, 2024	$6,475	$0.30	140,902
June 28, 2024	June 25, 2024	August 06, 2024	$6,738	$0.30	147,220