v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investment Income:    
Interest income $ 9,860 $ 981
Paid-in-kind interest income 2,190 0
Dividend income 64 52
Paid-in-kind dividend income 1,548 0
Other income 313 30
Total Investment Income 13,975 1,063
Expenses    
Interest expense 5,227 557
Administrative service expenses 606 846
Professional fees 633 552
Amortization of deferred offering costs 144 408
Other general and administrative expenses 410 208
Directors' fees 89 86
Management fees 846 42
Incentive fees on net investment income 602 0
Incentive fees on net capital gains (126) 0
Total Expenses 8,431 2,699
Less: Expenses waived by Advisor (Note 3) 0 (762)
Less: Expense Support (Note 3) 0 (1,313)
Reimbursement of expense support (Note 3) 2,772 464
Net Expenses 11,203 1,088
Net Investment Income (Loss) 2,772 (25)
Net change in unrealized gains (losses):    
Non-controlled, non-affiliated investments (9,725) (28)
Translation of assets and liabilities in foreign currencies 384 0
Total net change in unrealized gains (losses) (9,341) (28)
Realized gains (losses):    
Non-controlled, non-affiliated investments 0 0
Foreign currency transactions 93 0
Total net realized gains (losses) 93 0
Total Net Unrealized and Realized Gains (Losses) (9,248) (28)
Net Increase (Decrease) in Net Assets Resulting from Operations (6,476) (53)
Preferred Stock dividends (46) (46)
Net Increase (Decrease) in Net Assets Resulting from Operations applicable to Common Stock $ (6,522) $ (99)
Per Share Information - Basic and Diluted    
Net investment income (loss) per share of Common Stock (basic and diluted) [1],[2] $ 0.28 $ (0.02)
Earnings (losses) per share of Common Stock, basic [2] (0.66) (0.07)
Earnings (losses) per share of Common Stock, diluted [2] $ (0.66) $ (0.07)
Weighted average shares of Common Stock outstanding, basic 9,864,463 1,350,604
Weighted average shares of Common Stock outstanding, diluted 9,864,463 1,350,604
[1] Per share amounts are calculated based on the weighted average shares outstanding during the period.
[2] Net investment income (loss) per share of Common Stock (basic and diluted) and earnings (losses) per share of Common Stock (basic and diluted) may not recalculate due to rounding.