v3.26.1
Borrowings (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The following table shows the Company’s outstanding debt as of June 30, 2026 and December 31, 2025:
Liability
(in thousands)		June 30, 2026December 31, 2025
Total CommitmentBalance OutstandingUnused CommitmentTotal CommitmentBalance OutstandingUnused Commitment
Revolving Credit Facility$300,000 $195,000 $105,000 $300,000 $95,000 $205,000 
2026 Notes— — — 200,000 200,000 — 
2027 Notes125,000 125,000 — 125,000 125,000 — 
8.11% 2028 Notes
50,000 50,000 — 50,000 50,000 — 
7.50% 2028 Notes
75,000 75,000 — — — — 
Total before deferred financing and issuance costs550,000 445,000 105,000 675,000 470,000 205,000 
Unamortized deferred financing and issuance costs— (4,801)— — (5,563)— 
Total borrowings outstanding, net of deferred financing and issuance costs$550,000 $440,199 $105,000 $675,000 $464,437 $205,000 
Schedule of Interest Expense and Amortization of Fees
Interest expense on these borrowings includes the interest cost charged on borrowings, the unused fee on the Credit Facility (as defined below), paying and administrative agent fees, and the amortization of deferred Credit Facility fees and expenses and costs and fees relating to the Company’s unsecured notes outstanding. These expenses are shown in the table below:
Interest Expense and Amortization of Fees
(in thousands)		For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
Revolving Credit Facility
Interest cost$3,311 $687 $5,478 $784 
Unused fee125 341 336 711 
Amortization of costs and other fees578 636 1,148 1,263 
Revolving Credit Facility Total$4,014 $1,664 $6,962 $2,758 
2025 Notes
Interest cost$— $— $— $674 
Amortization of costs and other fees— — — 52 
2025 Notes Total$— $— $— $726 
2026 Notes
Interest cost$— $2,250 $1,500 $4,500 
Amortization of costs and other fees— 112 75 222 
2026 Notes Total$— $2,362 $1,575 $4,722 
2027 Notes
Interest cost$1,562 $1,562 $3,125 $3,125 
Amortization of costs and other fees70 70 141 140 
2027 Notes Total$1,632 $1,632 $3,266 $3,265 
8.11% 2028 Notes
Interest cost$1,139 $1,014 $2,277 $1,543 
Amortization of costs and other fees61 60 122 89 
8.11% 2028 Notes Total
$1,200 $1,074 $2,399 $1,632 
7.50% 2028 Notes
Interest cost$1,406 $— $1,906 $— 
Amortization of costs and other fees36 — 41 — 
7.50% 2028 Notes Total
$1,442 $— $1,947 $— 
Total interest expense and amortization of fees$8,288 $6,732 $16,149 $13,103 
Schedule of Fair Value, Liabilities Measured on Recurring Basis
The following table shows additional information about the level in the fair value hierarchy of the Company’s liabilities as of June 30, 2026 and December 31, 2025:
Liability
(in thousands)		June 30, 2026December 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Revolving Credit Facility$— $— $195,000 $195,000 $— $— $95,000 $95,000 
2026 Notes, net(1)
— — — — — — 202,017 202,017 
2027 Notes, net(2)
— — 124,669 124,669 — — 123,832 123,832 
8.11% 2028 Notes, net(3)
— — 51,276 51,276 — — 51,964 51,964 
7.50% 2028 Notes, net(4)
— — 74,855 74,855 — — — — 
Total$— $— $445,800 $445,800 $— $— $472,813 $472,813 
_______________
(1)Net of debt issuance costs as of June 30, 2026 and December 31, 2025 of $0.0 million and $0.1 million, respectively.
(2)Net of debt issuance costs as of June 30, 2026 and December 31, 2025 of $0.2 million and $0.3 million, respectively.
(3)Net of debt issuance costs as of June 30, 2026 and December 31, 2025 of $0.4 million and $0.5 million, respectively.
(4)Net of debt issuance costs as of June 30, 2026 of $0.2 million.