v3.26.1
Subsequent Events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company has evaluated subsequent events through May 8, 2026, the date on which the consolidated financial statements were issued.
Stock Issuances: On April 1, 2026, the Company sold 2,014,437 shares for aggregate consideration of $19,701. On May 1, 2026, the Company received proceeds of $11,480 related to an additional share issuance to bring the total consideration the Company has received for stock issuances subsequent to March 31, 2026 to $31,181.
Distributions: On April 20, 2026, the Board declared a distribution of $0.071 per share, which was paid on April 28, 2026 to stockholders of record as of April 21, 2026. The total distribution paid was $20,348, $8,944 of which was reinvested pursuant to the Second Amended and Restated DRIP at a NAV per share of $9.78.
Share Repurchases: On April 30, 2026, the Company commenced its normal course quarterly tender offer pursuant to the Share Repurchase Program. The Company offered to purchase up to 14,229,101 shares of its issued and outstanding common stock. This amount represents approximately 5.0% of the Company's common stock outstanding as of March 31, 2026. The tender offer is for a price per share equal to the net asset value per share of the Company's common stock on April 30, 2026. The tender offer will expire at 11:59 P.M., Eastern Time, on May 29, 2026, unless otherwise extended.
The Company has fulfilled all repurchase requests since inception. The Company feels comfortable with its current state of liquidity and its liquidity management program. Subsequent to March 31, 2026, the Company has had net capital inflows totaling $40,125, comprised of (i) the issuance of shares in connection with its private offerings of $31,181 and (ii) the issuances of shares under the DRIP of $8,944.
Asset Purchase: On April 14, 2026, the Company completed the previously announced purchase of the assets of MRCC. The Asset Purchase was completed pursuant to the terms of the Asset Purchase Agreement among the Company, MRCC and MC Advisors. Pursuant to the Asset Purchase Agreement, at the closing of the Asset Purchase, the Company delivered to MRCC an aggregate purchase price of approximately $335,275, equal to the fair value of the Purchased Assets (as defined in the Asset Purchase Agreement) as of April 11, 2026, at which time MRCC sold to the Company all of its investment assets and the Company assumed certain liabilities with respect to such assets.
The Asset Purchase was structured to comply with the safe harbor provision of Rule 17a-8 of the 1940 Act. The foregoing description of the Asset Purchase Agreement is a summary only and is qualified in its entirety by reference to the full text of the Asset Purchase Agreement, a copy of which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed on August 8, 2025.