v3.25.1
Consolidated Statement of Cash Flows (Unaudited)
 1 Months Ended
Mar. 31, 2025
USD ($)
Cash flows from operating activities:  
Net increase (decrease) in net assets resulting from operations $ 411,660
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:  
Net change in unrealized (gain) loss on non-controlled / non-affiliated investments 11,309
Paid-in-kind interest income (1,516)
Amortization of deferred loan fees (35,935)
Accretion of warrant discount (139,374)
Amortization of deferred financing costs 21,252
Payments for purchases of investments in portfolio companies (13,000,000)
Proceeds from loan repayments on investments in portfolio companies 109,375
Proceeds from deferred loan fees 162,500
Changes in operating assets and liabilities:  
Cash received from Formation Transaction 27,586,601 [1]
(Increase) decrease in interest receivable 48,466
(Increase) decrease in prepaid expenses and other assets (58,899)
Increase (decrease) in base management fees payable (31,691)
Increase (decrease) in incentive fees payable (24,860)
Increase (decrease) in accrued audit and tax fees 3,000
Increase (decrease) in accrued Board of Trustees’ fees 38,000
Increase (decrease) in accrued expenses and other liabilities 244,204
Net cash provided by (used in) operating activities 15,344,092
Cash flows from financing activities:  
Repayment of line of credit (1,275,142)
Gross borrowings on line of credit 13,000,000
Distribution paid (832,648)
Net cash provided by (used in) financing activities 10,892,210
Net change in cash and cash equivalents 26,236,302
Cash and cash equivalents, beginning of period 25,000
Cash and cash equivalents, end of period 26,261,302
Supplemental Disclosure of Cash-Flow Information  
Distribution declared during the period 381,308
Cash paid for interest 23,074
Issuance of common shares in connection with the Formation Transaction $ 68,065,767 [1]
[1] On March 3, 2025, in connection with the Formation Transaction (as defined in Note 1 – Organization), the Company acquired net assets of $68,065,767 in exchange for common shares of the Company. For further details, refer to Note 1 – Organization and Note 8 – Net assets.