SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2023

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 10 — SUBSEQUENT EVENTS

The Company’s management has evaluated subsequent events through the date of issuance of the financial statements included herein. There have been no subsequent events that require recognition or disclosure in these financial statements except for the following described below.

Investment Portfolio

The Company invested in the following portfolio companies subsequent to June 30, 2023:

Activity Type	Date	Company Name	Company Description	Investment Amount		Instrument Type
New Investment	July 7, 2023	Madison Logic, Inc.*	Provider of B2B account based marketing services	$	461,351	Equity
New Investment	July 31, 2023	EHI Buyer, Inc.	Provider of design, engineering, installation, and maintenance services for building management systems	$	2,820,685	Senior Secured – First Lien
				$	1,410,343	Delayed Draw Term Loan Commitment
				$	3,149,231	Revolver Commitment
				$	492,017	Equity
New Investment	August 2, 2023	Compost 360 Acquisition, LLC	Organic waste recycler and producer of compost, mulch, and engineered soils	$	5,915,156	Senior Secured – First Lien
				$	2,609,627	Delayed Draw Term Loan Commitment
				$	2,919,023	Revolver Commitment
				$	208,069	Equity
New Investment	August 3, 2023	Morgan Electrical Group Intermediate Holdings, Inc.	Provider of commercial electrical services	$	2,022,258	Senior Secured – First Lien
				$	1,304,682	Delayed Draw Term Loan Commitment
				$	717,227	Revolver Commitment
				$	194,900	Equity
New Investment	August 7, 2023	The Hardenbergh Group, Inc.	Provider of temporary professional staffing of Medical Services Professionals, external peer review, consulting and physician leadership solutions	$	4,783,836	Senior Secured – First Lien
				$	1,679,360	Revolver Commitment
				$	264,885	Equity
New Investment	August 8, 2023	Green Intermediateco II, Inc.	Cyber-security focused value-added reseller and associated service provider	$	6,361,759	Senior Secured – First Lien
				$	2,002,253	Delayed Draw Term Loan Commitment
				$	194,512	Equity

* Existing portfolio company

Credit Facilities

As of August 11, 2023, the outstanding balance under the Commitment Facility was $45,000,000 and the outstanding balance under the Credit Facility was $73,800,000.

Sale of Unregistered Securities

Since June 30, 2023, the Company sold 73,161 common shares of beneficial interest at a price of $14.98 per share for aggregate proceeds of $1,095,959, which included $4,041 of Organizational Expense Allocation pursuant to Subscription Agreements entered into between the Company and investors.

Additionally, on July 31, 2023, the Company called $10,000,000 pursuant to capital draw down subscription agreements between the Company and its shareholders. The transaction is expected to close on August 15, 2023 and result in the issuance of 667,557 common shares of beneficial interest at a price of $14.98 per share.

Since June 30, 2023, the Company also issued 11,413 common shares of beneficial interest for aggregate proceeds of $167,537 under the DRIP.