v3.25.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
From non-controlled/non-affiliated investments:        
Interest income $ 39,040 $ 10,041 $ 72,120 $ 13,991
Dividend income 2,230 0 4,402 0
Fee income 40 18 67 18
Total investment income 41,310 10,059 76,589 14,009
Operating Expenses        
Interest expense 15,080 3,680 28,447 4,495
Management Fees 5,499 1,129 10,080 1,515
Income based Incentive Fees 3,163 794 5,775 1,317
Administrative services 712 434 1,316 929
Professional fees 356 345 850 790
Board of Trustees' fees 51 54 101 92
Other general and administrative 1,019 340 1,660 571
Amortization of deferred offering costs 4 199 26 377
Total Operating Expenses 25,884 6,975 48,255 10,086
Management Fees waived (2,749) (565) (5,040) (758)
Incentive Fees waived (3,163) (794) (5,775) (1,317)
Expense support 0 (900) 0 (2,875)
Net Operating Expenses 19,972 4,716 37,440 5,136
Net Investment Income before excise and other tax expense 21,338 5,343 39,149 8,873
Excise and other tax expense 207 0 558 0
Net investment income after excise and other tax expense 21,131 5,343 38,591 8,873
Net realized loss        
Net realized loss (2,192) 0 (1,482) 0
Net change in unrealized gain        
Net change in unrealized gain 1,252 1,968 10,018 2,552
Net Realized and Unrealized Gain (Loss) (940) 1,968 8,536 2,552
Net Increase in Net Assets Resulting from Operations 20,191 7,311 47,127 11,425
Series A Preferred Shares dividends 45 45 90 90
Net Increase in Net Assets Resulting from Operations Applicable to Common Shareholders $ 20,146 $ 7,266 $ 47,037 $ 11,335
Earnings per share, basic $ 0.69 $ 0.96 $ 1.77 $ 2.08
Earnings per share, diluted $ 0.69 $ 0.96 $ 1.77 $ 2.08
Weighted average shares of Common Shares outstanding, basic 29,172,014 7,567,551 26,583,939 5,441,161
Weighted average shares of Common Shares outstanding, diluted 29,172,014 7,567,551 26,583,939 5,441,161
Non-controlled/non-affiliated investments        
Net realized loss        
Net realized loss $ (2,192) $ 0 $ (1,482) $ 0
Net change in unrealized gain        
Net change in unrealized gain $ 1,252 $ 1,968 $ 10,018 $ 2,552