v3.25.2
Merger with BlackRock Capital Investment Corporation - summary of allocation of the consideration paid to the assets acquired and liabilities (Details) - BlackRock Capital Investment Corporation (Details) - BlackRock Capital Investment Corporation - USD ($)
Mar. 18, 2024
Dec. 31, 2024
Business Acquisition [Line Items]    
Common stock issued by the Company [1] $ 280,464,610  
Transaction costs 2,366,408  
Total purchase price 282,831,018  
Assets acquired:    
Investments 586,983,708 [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.