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STOCKHOLDERS’ EQUITY
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
STOCKHOLDERS’ EQUITY
9. STOCKHOLDERS’ EQUITY

The Company may from time to time issue and sell shares of its common stock through public or “at the market” offerings. During the six months ended June 30, 2025, the Company issued and sold the following shares of common stock:


Issuances of Common Stock		Number of Shares IssuedGross ProceedsUnderwriting Fees/Offering ExpensesNet ProceedsAverage Offering Price Per Share(1)
“At the market” offerings32.0$709.4 $7.5 $701.9 $22.14 
Total32.0$709.4 $7.5 $701.9 
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(1)    Represents the gross offering price per share before deducting underwriting discounts and commissions and offering expenses.

During the six months ended June 30, 2024, the Company issued and sold the following shares of common stock:


Issuances of Common Stock		Number of Shares IssuedGross ProceedsUnderwriting Fees/Offering ExpensesNet ProceedsAverage Offering Price Per Share(1)
“At the market” offerings25.9$538.7 $5.9 $532.8 $20.83 
Total25.9$538.7 $5.9 $532.8 
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(1)    Represents the gross offering price per share before deducting underwriting discounts and commissions and offering expenses.

“At the Market” Offerings

The Company is party to equity distribution agreements with several banks (the “Equity Distribution Agreements”). The Equity Distribution Agreements provide that the Company may from time to time issue and sell, by means of “at the market” offerings, up to $1,500 of its common stock. Subject to the terms and conditions of the Equity Distribution Agreements, sales of common stock, if any, may be made in transactions that are deemed to be “at the market” offerings as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. Under the Equity Distribution Agreements, common stock with an aggregate offering amount of $791 remained available for issuance as of June 30, 2025.

Conversion of the 2024 Convertible Notes

In March 2024, in connection with the repayment of the 2024 Convertible Notes, the Company issued approximately 20 shares of its common stock at a conversion price of $20.12 per share for a total value of $407. See Note 5 for more information relating to the repayment of the 2024 Convertible Notes.

Dividend Reinvestment Plan

See Note 11 for information regarding shares of common stock issued or purchased in accordance with the Company’s dividend reinvestment plan.

Stock Repurchase Program

The Company is authorized under its stock repurchase program to purchase up to $1,000 in the aggregate of its outstanding common stock in the open market at certain thresholds below its net asset value per share, in accordance with the guidelines specified in Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing, manner, price and amount of any share repurchases will be determined by the Company, in its sole discretion, based upon an evaluation of economic and market conditions, stock price, applicable legal and regulatory requirements and other factors. The stock repurchase program does not require the Company to repurchase any specific number of shares of common stock or any shares of common stock at all. Consequently, the Company cannot assure stockholders that any specific number of shares of common stock, if any, will be repurchased under the stock repurchase program. As of June 30, 2025, the expiration date of the stock
repurchase program was February 15, 2026. The program may be suspended, extended, modified or discontinued at any time. As of June 30, 2025, there was $1,000 available for repurchases under the stock repurchase program.
During the six months ended June 30, 2025 and 2024, the Company did not repurchase any shares of the Company’s common stock under the stock repurchase program.