v3.25.4
SHARE TRANSACTIONS
 6 Months Ended
Dec. 31, 2025
Equity [Abstract]  
SHARE TRANSACTIONS SHARE TRANSACTIONS
Below is a summary of transactions with respect to shares of common stock of the Company during the three months ended December 31, 2025 and 2024 and the the six months ended December 31, 2025 and 2024. There were no shares transactions with Class I Common stock for the three and six months ended December 31, 2025.
Three Months Ended December 31, 2025Six Months Ended December 31, 2025
PFLOAT Class A Common StockPFLOAT Class A Common Stock
SharesAmountSharesAmount
Shares issued through reinvestment of distributions198,978 $875,207 363,604 $1,614,657 
Repurchase of common stock(52,522)(215,865)(118,362)(514,121)
Net increase/(decrease) from capital transactions146,456 $659,342 245,242 $1,100,536 
Three Months Ended December 31, 2024Six Months Ended December 31, 2024
PFLOAT Class A Common StockPFLOAT Class A Common Stock
SharesAmountSharesAmount
Shares issued— $— 2,096,436 $10,000,000 
Shares issued through reinvestment of distributions160,870 743,393 290,911 1,362,153 
Repurchase of common stock(102,793)(468,729)(150,638)(692,167)
Net increase/(decrease) from capital transactions58,077 $274,664 2,236,709 $10,669,986 
Three Months Ended December 31, 2024Six Months Ended December 31, 2024
PFLOAT Class I Common StockPFLOAT Class I Common Stock
SharesAmountSharesAmount
Shares issued2,237 $10,400 2,237 $10,400 
Shares issued through reinvestment of distributions— — — — 
Repurchase of common stock— — — — 
Net increase/(decrease) from capital transactions2,237 $10,400 2,237 $10,400 
On June 28, 2024, the Company accepted a subscription agreement from the Adviser for the sale of $10.0 million of the Company’s Class A common stock at a purchase price per Share equal to the Company’s net asset value per Share as of June 30, 2024. A total of 2,096,436 shares were issued on July 1, 2024. The offer and sale of these shares are exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

Share Repurchase Program
The Company may conduct quarterly tender offers pursuant to its share repurchase program. The Company’s Board of Directors will consider the following factors, among others, in making its determination regarding whether to cause the Company to offer to repurchase shares of common stock and under what terms:
•    the effect of such repurchases on the Company’s qualification as a RIC (including the consequences of any necessary asset sales);
•    the liquidity of the Company’s assets (including fees and costs associated with disposing of assets);
•    the Company’s investment plans and working capital requirements;
•    the relative economies of scale with respect to the Company’s size;
•    the Company’s history in repurchasing shares of common stock or portions thereof; and
•    the condition of the securities markets.
The Company currently intends to limit the number of shares of common stock to be repurchased during any calendar year to the number of shares of common stock it can repurchase with the cash retained as a result of issuing shares under its distribution reinvestment plan to those stockholders who have elected to receive their distributions in the form of additional shares rather than in cash. At the discretion of the Company’s Board of Directors, the Company may also use cash on hand, cash available from borrowings and cash from the liquidation of securities investments as of the end of the applicable period to repurchase shares of common stock. In addition, the Company will limit the number of shares of common stock to be repurchased in any calendar year to 10% of the weighted average number of shares of common stock outstanding in the prior calendar year, or 2.5% in each calendar quarter, though the actual number of shares of common stock that the Company offers to repurchase may be less in light of the limitations noted above.
Our Board of Directors reserves the right, in its sole discretion, to limit the number of shares to be repurchased for each class by applying the limitations on the number of shares to be repurchased, noted above, on a per class basis. We further anticipate that we will offer to repurchase such shares on each date of repurchase at a price equal to the net asset value per share on each date of repurchase. If the amount of repurchase requests exceeds the number of shares we seek to repurchase, we will repurchase shares on a pro-rata basis. As a result, we may repurchase less than the full amount of shares that stockholders submit for repurchase. If we do not repurchase the full amount of the shares that stockholders have requested to be repurchased, or we determine not to make repurchases of our shares, stockholders may not be able to dispose of their shares. Any periodic repurchase offers will be subject in part to our available cash and compliance with the 1940 Act.
Below is a summary of transactions with respect to shares of common stock during each tender offer:
Quarterly Offer Date Repurchase Effective DateClass A Shares
Repurchased		Class I Shares RepurchasedPercentage of Shares
Tendered That Were
Repurchased		Repurchase Price
Per Share		Aggregate
Consideration for
Repurchased Shares 
Six months ended December 31, 2025
September 30, 2025August 22, 202565,840 — 100 %$4.53 $298,256 
December 31, 2025November 18, 202552,522 — 100 %$4.11 $215,865 
Total for the six months ended December 31, 2025118,362 — 514,121 
Year ended June 30, 2025
September 30, 2024September 23, 202447,845 — 15 %$4.67 $223,438 
December 31, 2024November 25, 2024102,793 — 45 %$4.56 468,729 
March 31, 2025February 21, 2025151,171 — 100 %$4.61 696,902 
June 30, 2025May 20, 2025155,049 — 100 %$4.46 691,519 
Total for the year ended June 30, 2025456,858 — $2,080,588