v3.25.2
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Investment income        
PIK interest income     $ 3,044,897 $ 3,383,424
Total investment income $ 26,451,572 $ 30,685,111 53,689,498 61,115,026
Expenses:        
Interest and financing expenses [1] 7,022,807 8,949,837 14,274,818 17,868,932
Management fee (Note 3) 1,466,705 1,029,670 2,496,375 2,059,340
Income incentive compensation (Note 3) 2,133,102 2,873,609 4,719,363 5,709,726
Incentive compensation clawback (Note 3) (741,019) (825,832) (1,522,386) (714,206)
Professional fees 1,119,633 711,954 1,667,158 1,321,235
Administration fees 548,271 558,437 953,564 1,116,874
Trustee Fees 88,699 87,022 175,000 174,043
Other general and administrative expenses 476,682 480,598 946,869 1,110,856
Total expenses 12,114,880 13,865,295 23,710,761 28,646,800
Management fee waiver (Note 3) (224,696) 0 (224,696) 0
Net expenses 11,890,184 13,865,295 23,486,065 28,646,800
Net investment income 14,561,388 16,819,816 30,203,433 32,468,226
Net gain (loss):        
Net realized gains (losses)     (11,236,508) 6,202,129
Gain (loss) on sale of derivatives (1,609,921) 627,081 (2,173,455) 878,555
Total net realized gain (loss) (10,973,406) 8,367,274 (13,236,344) 6,936,942
Net change in unrealized appreciation (depreciation):        
Unrealized gain loss on investments     1,240,506 (12,019,467)
Unrealized gain loss on derivatives (597,668) (16,935) (1,186,714) 889,118
Total net change in unrealized appreciation (depreciation) 3,284,100 (13,583,241) 132,193 (11,097,441)
Net gain (loss) (7,689,306) (5,215,967) (13,104,151) (4,160,499)
Net increase (decrease) in net assets resulting from operations $ 6,872,082 $ 11,603,849 $ 17,099,282 $ 28,307,727
Net investment income per share, Basic $ 0.39 $ 0.46 $ 0.82 $ 0.88
Net investment income per share, Diluted 0.39 0.46 0.82 0.88
Earnings per share, Basic 0.19 0.31 0.46 0.77
Earnings per share, Diluted $ 0.19 $ 0.31 $ 0.46 $ 0.77
Basic weighted average shares outstanding 37,072,574 36,907,451 37,001,807 36,907,451
Diluted weighted average shares outstanding 37,072,574 36,907,451 37,001,807 36,907,451
Translation Of Assets And Liabilities In Foreign Currencies        
Net change in unrealized appreciation (depreciation):        
Unrealized foreign currency transactions $ (8,040) $ (24,040) $ 78,401 $ 32,908
Foreign Currency Transactions        
Net gain (loss):        
Foreign currency transactions 155,774 (49,422) 173,619 (143,742)
Foreign Currency Forward Contracts        
Net gain (loss):        
Gain (loss) on sale of derivatives (1,614,978) 483,594 (2,183,731) 382,879
Net change in unrealized appreciation (depreciation):        
Unrealized gain loss on derivatives (546,035) (144,668) (932,058) 827,421
Interest Rate Swaps        
Net gain (loss):        
Gain (loss) on sale of derivatives 5,057 143,487 10,276 495,676
Net change in unrealized appreciation (depreciation):        
Unrealized gain loss on derivatives (51,633) 127,733 (254,656) 61,697
Non-controlled, non-affiliated investments        
Investment income        
Interest income (excluding PIK interest) 24,501,747 28,314,093 50,008,865 56,338,439
PIK interest income 1,354,905 1,500,442 2,511,006 3,042,454
Other income 11,251 13,378 30,094 26,472
Net gain (loss):        
Net realized gains (losses) (9,642,346) 7,789,615 (11,450,247) 6,404,536
Net change in unrealized appreciation (depreciation):        
Unrealized gain loss on investments 3,160,710 (11,603,046) 1,742,695 (8,291,854)
Non-controlled/affiliated investments        
Investment income        
Interest income (excluding PIK interest) 98,814 360,517 284,789 721,188
PIK interest income 335,343 155,385 480,557 294,323
Net gain (loss):        
Net realized gains (losses) 123,087 0 213,739 0
Net change in unrealized appreciation (depreciation):        
Unrealized gain loss on investments 2,800,616 754,786 2,891,995 (19,226)
Controlled investments        
Investment income        
Interest income (excluding PIK interest) 122,249 317,426 320,853 645,503
PIK interest income 27,263 23,870 53,334 46,647
Net gain (loss):        
Net realized gains (losses) 0 0 0 (202,407)
Net change in unrealized appreciation (depreciation):        
Unrealized gain loss on investments $ (2,071,518) $ (2,694,006) $ (3,394,184) $ (3,708,387)
[1] Interest expense includes the portion of the facility agent fee applicable to the drawn portion of the Revolving Credit Facility and the unfunded fee includes the portion of the facility agent fee applicable to the undrawn portion of the Revolving Credit Facility (see table above for details of the Fund's borrowings).