Equity |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Equity [Abstract] | |
| Equity | Equity For each of the years ended December 31, 2025 and 2024, the Company did not issue any shares of common stock through the Company’s private placement offerings. The Company had 23,689,363 shares of common stock outstanding as of each of December 31, 2025 and 2024. As of December 31, 2025, the Company had received capital commitments totaling $386.8 million, of which $354.7 million had been funded, with the Company’s stockholders released from funding obligations for any remaining undrawn capital commitments effective upon the expiration of the Company’s investment period in December 2023, subject to limited exceptions set forth in the stockholders’ Subscription Agreements with the Company. For the year ended December 31, 2023, the Company issued 3,392,163 shares of common stock at a weighted average price of $12.47 per share through its private placement offerings resulting in gross proceeds to the Company of $42.3 million. The Company had 23,689,363 shares of common stock outstanding as of December 31, 2023. On May 27, 2020, the Company sold 525 shares of the Company’s Series A preferred stock at a price of $1,000 per share, resulting in gross proceeds to the Company of $525,000. The Company’s Series A preferred stock is senior to all other classes and series of common stock and will rank on parity with any other class or series of preferred stock, whether such class or series is created in the future. The Company’s Series A preferred stock is subject to redemption at any time by notice of such redemption on a date selected by the Company. Shares of preferred stock are entitled to a liquidation preference of $1,000.00 per share (the “Liquidation Value”), plus any accrued but unpaid dividends and any applicable redemption premium. Dividends on each share of Series A preferred stock are payable semiannually on June 30 and December 31 of each year and accrue at a rate of 12.0% per annum on the Liquidation Value thereof plus all accumulated and unpaid dividends thereon. Holders of the shares of Series A preferred stock will not participate in any appreciation in the value of the Company. The Company had 525 shares of preferred stock outstanding as of each of December 31, 2025, December 31, 2024 and December 31, 2023.
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