
Financial Highlights (in thousands, except per share data)	For the Six Months Ended June 30,
	2025			2024
Per Share Data(1)
Net asset value at beginning of period	$	8.61		$	9.21
Changes in net asset value due to:
Net investment income	0.55			0.74
Net realized gains (losses) on investments	0.06			(0.72)
Net change in unrealized gains (losses) on investments	0.03			0.39
Net increase (decrease) from capital share transactions(1)	—			0.01

Distributions from net investment income	(0.60)			(0.80)


Net asset value at end of period	$	8.65		$	8.83

Net investment income per share	$	0.55		$	0.74
Net increase (decrease) in net assets resulting from operations per share	$	0.64		$	0.43
Weighted average shares of common stock outstanding for period	40,186			38,189
Shares of common stock outstanding at end of period	40,324			39,953

Ratios / Supplemental Data
Net asset value at beginning of period	$	345,687		$	346,306
Net asset value at end of period	$	348,677		$	352,977
Average net asset value	$	348,250		$	348,353
Stock price at end of period	$	7.01		$	8.03

Total return based on net asset value per share(2)	9.7		%	5.6		%
Total return based on stock price(3)	3.8		%	(18.7)		%

Net investment income to average net asset value(4)(5)	12.7		%	16.2		%
Net increase (decrease) in net assets to average net asset value(4)(5)	15.0		%	9.6		%
Ratio of expenses to average net asset value(4)(5)	13.7		%	16.3		%
Operating expenses excluding incentive fees to average net asset value(4)(5)	13.7		%	16.3		%
Income incentive fees to average net asset value(4)(5)	—		%	—		%
Capital gains incentive fees to average net asset value(4)	—		%	—		%

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(2)Total return based on NAV is the change in ending NAV per share plus distributions per share paid during the period assuming participation in the Company’s dividend reinvestment plan divided by the beginning NAV per share. Total return does not reflect sales charges that may be incurred by stockholders. The total return is for the period shown and is not annualized.

(3)Total return based on stock price is the change in the ending stock price of the Company’s common stock plus distributions paid during the period assuming participation in the Company’s dividend reinvestment plan divided by the beginning stock price of the Company’s common stock. Total return does not reflect sales charges that may be incurred by stockholders. The total return is for the period shown and is not annualized.

(5)For the six months ended June 30, 2025, excluding the income incentive fee waiver, the ratios of net investment income, net increase in net assets, ratio of expenses, operating expenses excluding incentive fees, and income incentive fees to average net asset value were 12.0%, 14.2%, 14.5%, 13.7% and 0.7%, respectively.


Ratios (Percentages, on an annualized basis)(1)	For the Six Months Ended June 30,
	2025		2024
Weighted average portfolio yield on debt investments(2)	14.5	%	15.6	%
Coupon income	11.5	%	11.9	%
Accretion of discount	1.0	%	0.9	%
Accretion of end-of-term payments	1.3	%	1.5	%
Impact of prepayments during the period	0.7	%	1.3	%

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(1)Weighted average portfolio yields on debt investments for periods shown are the annualized rates of interest income recognized during the period divided by the average amortized cost of debt investments in the portfolio during the period. The calculation of weighted average portfolio yields on debt investments excludes any non-income producing debt investments, but includes debt investments on non-accrual status. The weighted average yields reported for these periods are annualized and reflect the weighted average yields to maturities.