Stock Issuances and Share Repurchase Program |
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| Stock Issuances and Share Repurchase Program | Stock Issuances and Share Repurchase Program Stock Issuances As of March 31, 2026, the total number of shares of all classes of capital stock that the Company has the authority to issue was 600,000,000 shares of common stock, par value $0.001 per share. The following tables summarize the issuance of shares during the three months ended March 31, 2026 and 2025:
(1)The Company began monthly closings for its private offering in October 2025, and as a result, the 2025 period reflects the share issuances at that time. During the three months ended March 31, 2026 and 2025, the Company also issued 2,939,723 and 2,292,918 shares, with an aggregate value of $28,951 and $23,777, respectively, under the DRIP as disclosed in Note 9. Share Repurchase Program During 2022, the Company commenced a quarterly share repurchase program pursuant to which the Company intends to repurchase, in each quarter, up to 5% of the shares of common stock outstanding as of the close of the previous calendar quarter (the “Share Repurchase Program”), subject to the discretion of the Board. Any such repurchases are subject to approval by the Board, in its discretion, and the availability of cash to fund such repurchases. The Board may amend, suspend or terminate the Share Repurchase Program if it deems such action to be in the Company’s best interest and the best interest of the Company’s stockholders. As a result, share repurchases may not be available each quarter. The Company intends to conduct such repurchase offers pursuant to tender offers in accordance with the requirements of Rule 13e-4 under the Securities Exchange Act of 1934 and the 1940 Act and subject to compliance with applicable covenants and restrictions under the Company’s financing arrangements. All shares repurchased by the Company pursuant to the terms of each tender offer will be redeemed and thereafter will be authorized and unissued shares. The following tables summarize the total shares repurchased that were validly tendered and not withdrawn in tender offers under the Share Repurchase Program during the three months ended March 31, 2026 and 2025:
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