XML 13 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net increase (decrease) in net assets resulting from operations $ 13,522,659 $ 5,084,659
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net change unrealized (appreciation) depreciation on investments 912,836 (2,336,337)
Net change unrealized (appreciation) depreciation on derivative investments (11,637) 0
Net change unrealized (appreciation) depreciation on foreign currency and other transactions 10,005  
Net realized (gain) loss on investments (1,658,790) (203,776)
Net realized (gain) loss on foreign currency and other transactions 1,621 0
Payment-in-kind interest capitalized (2,157,753) (1,505,341)
Net accretion of discount and amortization of premium (3,174,036) (257,263)
Amortization of deferred financing costs 343,189 133,881
Amortization of offering costs 704,934 246,317
Purchases of investments (304,246,026) (303,557,803)
Proceeds from sale of investments and principal repayments 135,054,161 54,570,476
Changes in operating assets and liabilities:    
Interest receivable (2,247,818) (1,616,559)
Deferred offering costs (1,187,914) (142,705)
Receivable for investments sold (4,163,348) (11,098,829)
Due from Advisor 575,184 (95,207)
Other assets (32,935) (42,081)
Payable for investments purchased 35,316,086 40,902,266
Due to Advisor and affiliates (38,561) (920,015)
Management fee payable 209,500 655,299
Income incentive fee payable 364,760 0
Capital gains incentive fee payable (36,271) 317,514
Interest and credit facility fees payable 773,575 528,514
Accrued expenses and other liabilities 420,695 741,466
Net cash provided by (used in) operating activities (130,745,884) (218,595,524)
Cash flows from financing activities:    
Proceeds from Secured Credit Facility 60,000,000 13,500,000
Deferred financing costs paid 0 (1,195,091)
Dividends paid in cash (7,464,682) (102,893)
Proceeds from issuance of common shares 104,522,157 208,177,000
Net cash provided by (used in) financing activities 157,057,475 220,379,016
Net increase (decrease) in cash and cash equivalents 26,311,591 1,783,492
Cash, cash equivalents and restricted cash, beginning of period 73,025,293 10,000
Cash, cash equivalents and restricted cash, end of period 99,336,884 1,793,492
Supplemental information and non-cash activities:    
Cash paid for interest 10,230,126 0
Reinvestment of distributions 13,125,543 3,037,048
Accrued but unpaid deferred offering cost $ 145,282 $ 216,950