Note 14. Subsequent Events

The Company has evaluated subsequent events through March 20, 2026, the date of which the consolidated financial statements were issued. Other than the items discussed below, the Company has concluded there are no material items that warrant disclosure. Subsequent to December 31, 2025 through March 20, 2026, the Company invested $11,911,101 at cost in 84 different portfolio companies.

On December 18, 2025, the Company delivered a drawdown notice to one if its investors relating to the sale of 1,685,393 shares of Common Stock, for an aggregate offering price of $15.0 million. The sale closed on January 2, 2026.

On January 13, 2026, the Company issued a Tender Offer to repurchase $15.0 million worth of Common Stock. The Offer was accepted on February 10, 2026.

The sale of Common Stock was made pursuant to a subscription agreement entered into by the Company and the investor. Under the terms of the subscription agreement, the investor is required to fund drawdowns to purchase shares of Common Stock up to the amount of its capital commitment on an as-needed basis with a minimum of 10 calendar days’ prior notice.

The issuance of the Common Stock is exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof. The Company has not engaged in general solicitation or advertising with regard to the issuance and sale of the Common Stock and has not offered securities to the public in connection with such issuance and sale.