v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities:    
Net increase (decrease) in net assets resulting from operations $ (8,389,211) $ 22,880,140
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:    
Net realized (gains)/losses on investments 5,894,493 1,736,331
Net change in unrealized (gains)/losses on investments 15,407,869 (8,298,242)
Net accretion of discount on investments (598,188) (578,578)
Payment-in-kind interest (507,850) 0
Purchases of short-term investments (127,649,840) (295,848,981)
Purchases of portfolio investments (104,323,107) (346,482,823)
Proceeds from sale of short-term investments 140,223,941 295,534,623
Proceeds from sale of portfolio investments 144,369,364 69,556,336
Amortization of deferred financing cost 424,712 289,630
Increase/(decrease) in operating assets and liabilities:    
(Increase)/decrease in receivable for sales of investments (6,363,093) 12,884
(Increase)/decrease in interest and dividends receivable 1,509,133 (1,693,612)
(Increase)/decrease in due from investment adviser (214,725) 1,634,333
(Increase)/decrease in receivable for paydowns of investments 501,065 (106,269)
(Increase)/decrease in prepaid expenses and other assets (30,014) (55,417)
Increase/(decrease) in interest payable on credit facilities (428,607) (1,308,707)
Increase/(decrease) in payable for investments purchased (12,631,927) 22,873,570
Increase/(decrease) in management fees payable (80,123) 164,164
Increase/(decrease) in incentive fee payable (306,426) 1,924,752
Increase/(decrease) in directors fee payable 0 0
Increase/(decrease) in accrued other general and administrative expenses (394,115) (123,527)
Net cash provided by (used in) operating activities 46,413,351 (237,889,393)
Cash Flows from Financing Activities:    
Borrowings on the credit facilities 26,600,000 158,000,000
Payments on the credit facilities (56,300,000) 0
Payments of debt issuance costs 0 (3,625,000)
Distributions paid in cash (15,649,925) 0
Proceeds from issuance of common shares, net of change in subscriptions receivable 0 89,652,500
Purchase of common shares for dividend reinvestment plan 514,649 0
Repurchase of common shares (1,472,064) 0
Net cash provided by (used in) financing activities (46,307,340) 244,027,500
Net increase/(decrease) in cash and cash equivalents 106,011 6,138,107
Cash and cash equivalents, beginning of period 2,766,409 2,117,109
Cash and cash equivalents, end of period 2,872,420 8,255,216
Supplemental and Non-Cash Information:    
Interest paid during the period 13,398,364 14,487,537
Distributions declared during the period 12,691,089 15,950,869
Reinvestment of distributions during the period 0 0
Distributions payable $ 12,691,089 $ 15,950,869