v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment Income:        
Interest income $ 12,772,000 $ 2,658,000 $ 22,632,000 $ 3,640,000
Paid-in-kind interest income 2,080,000 0 4,270,000 0
Dividend income 41,000 98,000 105,000 149,000
Paid-in-kind dividend income 1,591,000 0 3,139,000 0
Other Income 347,000 155,000 660,000 185,000
Total Investment Income 16,831,000 2,911,000 30,806,000 3,974,000
Expenses        
Interest expense 5,956,000 1,037,000 11,183,000 1,594,000
Administrative service expenses 635,000 741,000 1,241,000 1,587,000
Professional fees 823,000 492,000 1,456,000 1,045,000
Amortization of deferred offering costs 174,000 432,000 318,000 840,000
Other general and administrative expenses 350,000 206,000 760,000 414,000
Directors' fees 89,000 90,000 178,000 176,000
Management fees 1,035,000 143,000 1,881,000 185,000
Incentive fees on net investment income 768,000 0 1,370,000 0
Incentive fees on net capital gains 0 0 (126,000) 0
Total Expenses 9,830,000 3,141,000 18,261,000 5,841,000
Less: Expenses waived by Advisor (Note 3) 0 0 0 (762,000)
Less: Expense Support (Note 3) 0 (1,935,000) 0 (3,248,000)
Reimbursement of expense support (Note 3) 1,071,000 1,615,000 3,843,000 2,078,000
Net Expenses 10,901,000 2,821,000 22,104,000 3,909,000
Net Investment Income (Loss) Before Income Taxes 5,930,000 90,000 8,702,000 65,000
Income taxes, including excise taxes 61,000 0 61,000 0
Net Investment Income (Loss) 5,869,000 90,000 8,641,000 65,000
Net change in unrealized gains (losses):        
Non-controlled, non-affiliated investments (7,037,000) (140,000) (16,762,000) (168,000)
Translation of assets and liabilities in foreign currencies 1,449,000 0 1,833,000 0
Total net change in unrealized gains (losses) (5,588,000) (140,000) (14,929,000) (168,000)
Realized gains (losses):        
Non-controlled, non-affiliated investments (1,000) 0 (1,000) 0
Foreign currency transactions (4,000) 0 90,000 0
Total net realized gains (losses) (5,000) 0 89,000 0
Total Net Unrealized and Realized Gains (Losses) (5,593,000) (140,000) (14,840,000) (168,000)
Net Increase (Decrease) in Net Assets Resulting from Operations 276,000 (50,000) (6,199,000) (103,000)
Preferred Stock dividends (46,000) (46,000) (93,000) (93,000)
Net Increase (Decrease) in Net Assets Resulting from Operations applicable to Common Stock $ 230,000 $ (96,000) $ (6,292,000) $ (196,000)
Per Share Information - Basic and Diluted        
Net investment income (loss) per share of Common Stock (basic and diluted) [1] $ 0.49 $ 0.03 $ 0.79 [2] $ 0.03 [2]
Earnings (losses) per share of Common Stock, basic 0.02 [1] (0.03) [1] (0.57) (0.09)
Earnings (losses) per share of Common Stock, diluted $ 0.02 [1] $ (0.03) [1] $ (0.57) $ (0.09)
Weighted average shares of Common Stock outstanding, basic 12,018,505 2,968,286 10,947,434 2,163,914
Weighted average shares of Common Stock outstanding, diluted 12,018,505 2,968,286 10,947,434 2,163,914
[1] Net investment income (loss) per share of Common Stock (basic and diluted) and earnings (losses) per share of Common Stock (basic and diluted) may not recalculate due to rounding.
[2] Per share amounts are calculated based on the weighted average shares outstanding during the period.