XML 15 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net increase (decrease) in net assets resulting from operations $ 473,034 $ 45,354,002 $ 28,258,219
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net realized (gain) loss 0 1,431,808 (77,570)
Change in net unrealized (appreciation) depreciation of investments 3,349,572 (3,345,673) (5,346,656)
Net amortization of investment discounts and premiums (526,436) (5,020,865) (3,167,347)
Interest and dividend income paid in kind (128,409) (1,375,308) (694,111)
Amortization of deferred debt issuance costs 109,094 438,149 193,554
Changes in assets and liabilities:      
Purchases of investments (217,342,907) (773,893,941) (248,934,358)
Proceeds from disposition of investments 7,093,801 142,736,794 64,848,048
Decrease (increase) in interest, dividends and fees receivable (1,265,323) (3,124,063) (2,134,446)
Decrease (increase) in receivable for investments sold (22,548) (7,377,342) (596,291)
Decrease (increase) in prepaid expenses and other assets (283,390) (1,541,422) (489,986)
Increase (decrease) in interest and debt related payables 1,090,190 1,843,476 1,075,837
Increase (decrease) in incentive fees payable 0 3,978,275 0
Increase (decrease) in management fees payable 0 1,791,192 0
Increase (decrease) in accrued capital gains incentive fees 0 498,552 0
Increase (decrease) in reimbursements due to the Investment Adviser 48,566 877,413 199,376
Increase (decrease) in payable for investments purchased 7,174,463 29,486,011 6,686,087
Increase (decrease) in accrued expenses and other liabilities 1,149,618 6,822 214,362
Net cash provided by (used in) operating activities (199,080,675) (567,236,120) (159,965,282)
Financing activities      
Proceeds from common shares sold 118,655,300 373,956,051 91,787,065
Contribution received in advance 4,950,000 0 11,924,839
Proceeds from issuance of Tranche A Notes 0 70,000,000 0
Draws on credit facilities 135,000,000 396,000,000 121,000,000
Repayments of credit facility draws (40,000,000) (232,000,000) (60,000,000)
Payments of debt issuance costs (1,888,726) (3,546,409) (320,295)
Dividends paid in cash to shareholders (2,170) (12,845,227) (1,666,198)
Payments of repurchased shares 0 (3,643,716) 0
Net cash provided by (used in) financing activities 216,714,404 587,920,699 162,725,411
Net increase (decrease) in cash and cash equivalents (including restricted cash) 17,633,729 20,684,579 2,760,129
Cash and cash equivalents (including restricted cash) at beginning of period 0 20,393,858 17,633,729
Cash and cash equivalents (including restricted cash) at end of period 17,633,729 41,078,437 20,393,858
Supplemental cash flow information      
Interest payments 1,064,214 13,396,545 7,128,811
Excise tax payments 0 0 18,395
Distribution payable 1,440,887 6,009,553 3,651,224
Reinvestment of dividends during the period $ 1,819,100 $ 31,610,193 $ 17,295,327