Merger with BlackRock Capital Investment Corporation (Tables)

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Summary Of Recognized Identified Assets Acquired And Liabilities Assumed

The following table summarizes the allocation of the consideration paid to the assets acquired and liabilities assumed as a result of the Merger:


Common stock issued by the Company (1)	$	280,464,610
Transaction costs		2,366,408
Total purchase price	$	282,831,018
Assets acquired:
Investments(2)	$	586,983,708
Cash and cash equivalents		11,670,610
Interest, dividends and fees receivable		10,373,421
Due from broker		2,048,141
Other assets		3,731,006
Total assets acquired		614,806,886
Liabilities assumed:
Debt		315,296,749
Dividends payable (3)		7,257,191
Management fees payable		1,888,664
Interest rate swap, at fair value		1,674,309
Incentive fees payable		1,363,625
Other liabilities		4,495,330
Total liabilities assumed		331,975,868
Net assets acquired	$	282,831,018

(1)

Based on the Company's market price of $10.08 and 27,823,870 shares of common stock issued by the Company at closing.

(2)

Investments acquired were recorded at fair value at the date of the acquisition, which is also the Company's initial cost basis in the investments, and reflects the impact of a $21,886,848 purchase discount.

(3)

Declared on March 4, 2024 by the BCIC Board of Directors for the benefit of former BCIC shareholders of record as of March 15, 2024 and paid on March 29, 2024 out of BCIC cash and cash equivalents acquired by the Company.