SUBSEQUENT EVENTS |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Management has evaluated all known subsequent events through the date of issuance of these consolidated financial statements and notes the following: Distributions: On February 26, 2026, our Board of Directors declared a distribution for the month of April 2026, which reflects a targeted annualized distribution rate of 10.0% based on the net asset value per share for the second fiscal quarter ended December 31, 2025. The distribution has a record date as of the close of business of the last Friday of April 2026. The distribution will be payable to stockholders of record as of the monthly record date set forth below.
Issuance of Common Stock For the period beginning April 1, 2026 and ending May 11, 2026, the Company issued 222,751 shares of its Class A common stock pursuant to its distribution reinvestment plan in the amount of $841,997. Repurchase Offer On March 27, 2026, under our share repurchase program, we made a tender offer to purchase up to the number of shares of our issued and outstanding Class A and Class I common stock we could repurchase with the cash we retained during the quarter ended December 31, 2025 as a result of issuing shares through our distribution reinvestment plan to those shareholders who elected to receive their distributions in the form of additional shares rather than in cash. The total cash retained during the quarter ended December 31, 2025 as a result of issuing shares through our distribution reinvestment plan prior to this tender offer was approximately $858,697. The tender offer was for cash at a price equal to the net asset value per share as of April 30, 2026. The offer expired at 4:00 P.M., Eastern Time, on April 29, 2026 and a total of 57,531 Shares were validly tendered and not withdrawn pursuant to the Offer as of such date. In accordance with the terms of the Offer, the Company purchased all 57,531 Shares validly tendered and not withdrawn at a price equal to $3.83 per Share for an aggregate purchase price of approximately $220,342. OZK Credit Facility On April 23, 2026, the Company drew $3,100,000 on the OZK Credit Facility. On April 2, 2026 and April 17, 2026, the Company repaid $350,000 and $550,000, respectively, on the OZK Credit Facility. As of May 11, 2026, the outstanding balance on the OZK Credit Facility was $37,378,847. Investment Activity During the period beginning April 1, 2026 and ending May 11, 2026, the Company made two investments in a portfolio company totaling $3,100,000. During the period beginning April 1, 2026 and ending May 11, 2026, the Company did not sell investments in portfolio companies.
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