v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investment income    
Payment-in-kind (“PIK”) interest income $ 1,278 $ 285
Total investment income 24,079 24,516
Expenses    
Interest expense 8,179 8,681
Base management fee (Note 3) 3,120 3,180
Performance based incentive fee (Note 3) 1,765 0
Administrative fee (Note 3) 640 406
Professional fees 757 725
General and administrative 380 427
Total expenses 14,841 13,419
Net investment income before excise tax 9,238 11,097
Provision for excise tax 267 378
Net investment income 8,971 10,719
Net realized and unrealized loss    
Net realized (loss) gain on investments (161) 1
Net realized loss on extinguishment of debt (1,432) 0
Net realized (loss) gain (1,593) 1
Net unrealized depreciation on non-affiliate investments (4,600) (32,156)
Net realized and unrealized loss (6,193) (32,155)
Net increase (decrease) in net assets resulting from operations $ 2,778 $ (21,436)
Net investment income per common share - basic (in dollars per share) $ 0.19 $ 0.27
Net investment income per common share - diluted (in dollars per share) 0.19 0.27
Net increase (decrease) in net assets resulting from operations per common share - basic (in dollars per share) 0.06 (0.53)
Net increase (decrease) in net assets resulting from operations per common share - diluted (1) (in dollars per share) [1] $ 0.06 $ (0.53)
Weighted average shares outstanding - basic (in shares) 47,316,637 40,223,393
Weighted average shares outstanding - diluted (in shares) 47,316,637 40,223,393
Distributions declared per share (in dollars per share) $ 0.18 $ 0.33
Investment, Unaffiliated Issuer [Member]    
Investment income    
Interest income $ 21,073 $ 23,438
Payment-in-kind (“PIK”) interest income 437 77
Fee income 997 1,062
Net realized and unrealized loss    
Net realized (loss) gain on investments (161) 1
Net unrealized depreciation on non-affiliate investments (4,750) (12,037)
Investment, Affiliated Issuer, Noncontrolled [Member]    
Investment income    
Interest income 731 0
Payment-in-kind (“PIK”) interest income 841 0
Net realized and unrealized loss    
Net realized (loss) gain on investments 0 0
Net unrealized depreciation on non-affiliate investments 150 (2)
Investment, Affiliated Issuer, Controlled [Member]    
Investment income    
Payment-in-kind (“PIK”) interest income 0 208
Interest reversal 0 (269)
Net realized and unrealized loss    
Net realized (loss) gain on investments   0
Net unrealized depreciation on non-affiliate investments $ 0 $ (20,117)
[1] For the three months ended March 31, 2026 and 2025, the impact of the hypothetical conversion of Convertible Notes would have been antidilutive to net increase (decrease) in net assets resulting from operations per common share (Note 11).