v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Assets    
Non-controlled, non-affiliated investments at fair value (amortized cost $663,527 and $450,797, respectively) $ 655,446,000 $ 452,442,000
Cash and cash equivalents 67,221,000 137,048,000
Restricted cash and cash equivalents 4,625,000 1,982,000
Deferred offering costs 508,000 386,000
Deferred financing costs 5,698,000 5,394,000
Interest receivable 2,901,000 4,262,000
Dividend receivable 28,000 39,000
Other assets 260,000 198,000
Total Assets 736,687,000 601,751,000
Liabilities    
Due to affiliate 5,041,000 2,722,000
Interest payable 1,695,000 2,067,000
Management fees payable 846,000 589,000
Incentive fees on net investment income payable 602,000 413,000
Incentive fees on net capital gains accrued 0 126,000
Distribution payable 0 1,937,000
Excise tax payable 0 151,000
Accrued expenses and other liabilities 655,000 472,000
Total Liabilities 442,917,000 360,445,000
Commitments and contingencies (Note 7)
Net Assets    
Preferred Stock, $0.001 par value; 1,000,000 shares authorized; 515 and 515 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively; liquidation preference of $3,000 per share [1] 0 0
Common Stock, $0.001 par value; 5,000,000,000 shares authorized; 11,984,588 and 9,498,642 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 12,000 9,000
Distributable earnings (Accumulated losses) (5,527,000) 2,857,000
Total Net Assets 293,770,000 [2] 241,306,000
Total Liabilities and Net Assets $ 736,687,000 $ 601,751,000
Net Asset Value Per Share of Common Stock [3] $ 24.38 $ 25.24
U.S. Bank National Association [Member]    
Liabilities    
Credit Facility $ 218,078,000 $ 181,968,000
Ally Bank [Member]    
Liabilities    
Credit Facility 216,000,000 170,000,000
Common Stock [Member]    
Net Assets    
Additional paid-in capital 297,740,000 236,895,000
Preferred Stock [Member]    
Net Assets    
Additional paid-in capital $ 1,545,000 $ 1,545,000
[1]

(1) The par amount of Preferred Stock at March 31, 2026 and December 31, 2025 is zero due to rounding.
[2] The par amounts of Preferred Stock are zero due to rounding.
[3]

(2) Net asset value per share of Common Stock may not recalculate due to rounding.