v3.26.1
Condensed Consolidated Statements of Assets and Liabilities - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Investments at fair value:    
Total Investments (cost of $245,124,890 and $240,825,785, respectively) $ 388,534,651 $ 225,511,505
Cash 43,315,750 49,034,154
Restricted cash 38,741
Interest and dividends receivable 126,244 118,710
Deferred financing costs 500,275 508,310
Prepaid expenses and other assets [1] 789,236 807,302
Total Assets 433,266,156 276,018,722
LIABILITIES    
6.00% Notes due December 30, 2026 [2] 35,688,549 35,642,149
6.50% Convertible Notes due August 14, 2029 [3] 34,190,631 34,131,509
Accounts payable and accrued expenses [1] 1,534,603 627,522
Dividends payable 300,791 301,291
Total Liabilities 71,714,574 70,702,471
Commitments and contingencies (Notes 7 and 10)
Net Assets 361,551,582 205,316,251
NET ASSETS    
Common stock, par value $0.01 per share (100,000,000 authorized; 25,387,393 and 25,377,756 issued and outstanding, respectively) 253,874 253,778
Paid-in capital in excess of par 218,069,791 217,470,613
Accumulated net investment loss (7,946,424) (3,967,932)
Accumulated net realized gain on investments, net of distributions 7,764,584 6,874,070
Accumulated net unrealized appreciation/(depreciation) of investments 143,409,757 (15,314,278)
Net Assets $ 361,551,582 $ 205,316,251
Net Asset Value Per Share $ 14.24 $ 8.09
Non Controlled Non Affiliate Investments [Member]    
Investments at fair value:    
Total Investments (cost of $245,124,890 and $240,825,785, respectively) $ 381,596,305 $ 217,304,138
Non Controlled Affiliate Investments [Member]    
Investments at fair value:    
Total Investments (cost of $245,124,890 and $240,825,785, respectively) $ 6,938,346 $ 8,207,367
[1] This balance includes a right of use asset and corresponding operating lease liability, respectively. Refer to “Note 7—Commitments and Contingencies—Operating Leases and Related Deposits” for more detail.
[2] As of March 31, 2026, the 6.00% Notes due December 30, 2026 (the “6.00% Notes due 2026”) (effective interest rate of 6.43%) had a face value of $35,829,825. As of December 31, 2025, the 6.00% Notes due 2026 (effective interest rate of 7.08%) had a face value of $35,829,825. Refer to “Note 10—Debt Capital Activities” for a reconciliation of the carrying value to the face value.
[3] As of March 31, 2026, the 6.50% Convertible Notes due August 14, 2029 (the “6.50% Convertible Notes due 2029”) (effective interest rate of 7.17%) had a face value of $35,000,000. As of December 31, 2025, the 6.50% Convertible Notes due 2029 (effective interest rate of 7.17%) had a face value of $35,000,000. Refer to “Note 10—Debt Capital Activities” for a reconciliation of the carrying value to the face value.