Consolidated Statements of Cash Flows (Unaudited) - USD ($) |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
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| Cash flows from operating activities | ||||||
| Net increase (decrease) in net assets resulting from operations | $ 2,741,278 | $ 1,081,133 | ||||
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||||||
| Net amortization/accretion of premium/discount on investments | (919,320) | (96,672) | ||||
| Amortization of deferred financing costs and debt issuance costs | 318,329 | 179,161 | ||||
| Amortization of deferred offering costs | 38,004 | 0 | ||||
| Payments for purchase of investments | (341,983,738) | (26,265,033) | ||||
| Proceeds from sales, paydowns and resolutions of investments | 60,909,963 | 5,674,870 | ||||
| Interest paid-in-kind | (193,823) | 0 | ||||
| Net realized (gain) loss from investments | (286,881) | 2,066 | ||||
| Net change in unrealized (appreciation) depreciation from investments | 6,396,379 | (171,835) | ||||
| Net (increase) decrease in operating assets and increase (decrease) in operating liabilities | ||||||
| Interest receivable | (2,051,269) | (141,312) | ||||
| Other assets | (5,436,920) | 6,088 | ||||
| Payable for unsettled transactions | (41,284,908) | (8,930,024) | ||||
| Interest payable | 507,255 | 1,157,027 | ||||
| Income incentive fee payable | 933,809 | 0 | ||||
| Administration fee payable | (207,737) | 203,321 | ||||
| Origination fee payable | 0 | (688,338) | ||||
| Other liabilities | 533,877 | 0 | ||||
| Accrued expenses | [1] | 151,271 | 39,364 | |||
| Net cash provided by (used in) operating activities | (319,834,431) | (27,950,184) | ||||
| Cash flows from financing activities | ||||||
| Proceeds from debt borrowings | 367,786,500 | 0 | ||||
| Principal debt payments | (213,800,000) | 0 | ||||
| Payment of deferred financing costs and debt issuance costs | (1,613,101) | (358,323) | ||||
| Issuance of common shares | 213,682,130 | 15,000,000 | ||||
| Proceeds from sell/buy-back agreements | 0 | 47,623,175 | ||||
| Repayments of sell/buy-back agreements | (5,146,231) | (24,640,110) | ||||
| Dividends paid in cash | (9,306,991) | 0 | ||||
| Net cash provided by (used in) financing activities | 351,602,307 | 37,624,742 | ||||
| Net increase (decrease) | 31,767,876 | 9,674,558 | ||||
| Beginning of period balance | [2] | 11,027,679 | 11,191,439 | |||
| End of period balance | [2] | 42,795,555 | 20,865,997 | |||
| Supplemental cash flow information | ||||||
| Cash paid during the period for interest | 2,775,043 | 67,948 | ||||
| Reinvestment of dividends during the period | 536,728 | 0 | ||||
| Dividends payable | 2,446,140 | 0 | ||||
| Deferred financing costs paid in current period but incurred in prior period | 0 | 358,323 | ||||
| Deferred offering costs incurred but not yet paid | 191,281 | 0 | ||||
| Unamortized deferred offering costs | $ 153,277 | $ 0 | ||||
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