v3.25.2
Share Transactions
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Share Transactions Share Transactions
Below is a summary of transactions with respect to shares of the Company’s common stock during the six months ended June 30, 2025 and 2024:
 Six Months Ended June 30,
 20252024
 SharesAmountSharesAmount
Share Repurchase Program— — — — 
Net Proceeds from Share Transactions— — — — 
During the six months ended June 30, 2025, the administrator for the Company’s distribution reinvestment plan, or DRP, purchased 351,873 shares of common stock in the open market at an average price per share of $21.03 (totaling $7) pursuant to the DRP, and distributed such shares to participants in the DRP. During the six months ended June 30, 2024, the administrator for the Company’s DRP purchased 1,628,448 shares of common stock in the open market at an average price per share of $19.95 (totaling $32) pursuant to the DRP, and distributed such shares to participants in the DRP. During the period from July 1, 2025 to July 31, 2025, the administrator for the DRP purchased 343,451 shares of common stock in the open market at an average price per share of $21.36 (totaling $7) pursuant to the DRP, and distributed such shares to participants in the DRP. For additional information regarding the terms of the DRP, see Note 5.
“At the Market” Offering
On May 9, 2025, the Company entered into equity distribution agreements, or the Equity Distribution Agreements, by and among the Company and the Adviser, and each of Truist Securities, Inc., RBC Capital Markets, LLC, KKR Capital Markets LLC, and SMBC Nikko Securities America, Inc., or the Sales Agents. The Equity Distribution Agreements provide that the Company may, from time to time, issue and sell shares of its common stock, par value $0.001 per share, having an aggregate offering price of up to $750, through the Sales Agents or to them as principals for their own respective accounts, in an “at the market offering,” as defined in Rule 415 under the Securities Act of 1933, as amended, or the Securities Act.
Sales of shares, if any, may be made in negotiated transactions or transactions that are deemed to be “at the market,” as defined in Rule 415 under the Securities Act, including sales made directly on The New York Stock Exchange or a similar securities exchange or sales made to or through a market maker other than on an exchange and by any other method permitted by law, which may include block trades, at prices related to prevailing market prices or negotiated prices.
The Sales Agents will receive a commission from the Company of up to 1.5% of the gross sales price of any shares sold through such Sales Agent under the Equity Distribution Agreements. The offering price per share of shares less commissions payable under the Equity Distribution Agreements and discounts, if any, will not be less than the net asset value per share of the Company’s common stock at the time of such sale, provided, that the Adviser may, but is not obligated to, from time to time, in its sole discretion, pay some or all of the commissions payable under the Equity Distribution Agreements or make additional supplemental payments to ensure that the sales price per share of any shares sold in the offering will not be less than the Company’s then-current net asset value per share. Any such payments made by the Adviser will not be subject to reimbursement by the Company.
During the three and six months ended June 30, 2025, the Company did not issue or sell shares of its common stock under the Equity Distribution Agreements.