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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net increase (decrease) in net assets resulting from operations [1] $ 9,189,275 $ 6,643,763 [2]
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 3,912,978 (237,857)
Net change unrealized (appreciation) depreciation on derivative instruments 681,025 0
Net change unrealized (appreciation) depreciation on foreign currency and other transactions (156,820) 0
Net realized (gain) loss on investments (1,340,038) (1,046,710)
Net realized (gain) loss on derivative instruments 0 0
Net realized (gain) loss on foreign currency and other transactions 8,201 0
Payment-in-kind interest capitalized (1,273,897) (997,974)
Net accretion of discount and amortization of premium (2,073,574) (1,200,240)
Amortization of deferred financing costs 164,196 171,594
Amortization of offering costs 295,737 299,856
Purchases of investments (175,071,087) (113,795,687)
Proceeds from sale of investments and principal repayments 75,496,229 64,945,786
Changes in operating assets and liabilities:    
Interest receivable 184,687 (336,076)
Deferred offering costs 0 (241,422)
Receivable for investments sold 3,266,675 1,159,083
Due from Advisor (87,670) 161,150
Other assets (98,067) (64,530)
Payable for investments purchased 18,048,420 (4,773,135)
Due to Advisor and affiliates (35,124) (42,943)
Management fee payable 186,834 27,098
Income incentive fee payable 242,956 36,138
Accrued capital gains incentive fee (387,451) 31,878
Interest and credit facility fees payable (95,406) 692,998
Accrued expenses and other liabilities 757,814 225,139
Net cash provided by (used in) operating activities (68,184,107) (48,342,091)
Cash flows from financing activities:    
Proceeds from Secured Credit Facility 92,119,000 60,000,000
Repayment of Secured Credit Facility (77,700,000) 0
Distributions paid in cash (9,014,410) (4,689,880)
Deferred offering costs paid (5,871) 0
Proceeds from issuance of common shares 54,132,996 7,163,000
Redemptions paid in cash (14,875) 0
Net cash provided by (used in) financing activities 59,516,840 62,473,120
Net increase (decrease) in cash, cash equivalents and restricted cash (8,667,267) 14,131,029
Cash, cash equivalents and restricted cash, beginning of year 37,743,294 73,025,293
Cash, cash equivalents and restricted cash, end of year 29,076,027 87,156,322
Supplemental information and non-cash activities:    
Cash paid for interest 6,249,686 4,607,576
Reinvestment of distributions 18,553,467 7,764,317
Accrued but unpaid deferred offering cost $ 97,879 $ 0
[1] There were no Class S or Class D shares outstanding for each of the periods presented.
[2] Common Shares issued and outstanding as of March 31, 2024, were issued pursuant to the Private Offering. As part of the Public Offering effective June 24, 2024, the Common Shares issued pursuant to the Private Offering became Class I shares. Common Shares issued pursuant to the Private Offering are reclassified as Class I shares to conform with current period presentation.