Subsequent Events	6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. There have been no subsequent events that require recognition or disclosure in these consolidated financial statements, except for the following: Distributions On July 13, 2026, the Company paid a distribution in the amount of $11,994,008, or $0.39 per share, to shareholders on record as of June 26, 2026. Bank of America Facility Downsize On July 1, 2026, the Company reduced the amount of aggregate commitments to $350 million from $525 million in accordance with and as permitted under the BoA Credit Facility. The other terms of the BoA Credit Facility were not changed. CLO Transaction Refinancing On June 18, 2026, the Company, through Palmer Square BDC CLO 1, Ltd., priced its refinancing of a $300.00 million term debt securitization (the “CLO Reset Transaction”). The CLO Reset Transaction closed on July 15, 2026 (the “Refinancing Date”). The notes offered in the CLO Reset Transaction were issued by the Issuer, and consist of (i) $228.00 million of AAA Class A-R Notes due 2039, which bear interest at the forward-looking term rate based on the secured overnight financing rate (“Term SOFR”) plus 1.27% (the “Class A-R Notes”); and (ii) $72.00 million of AA Class B-R Notes due 2039, which bear interest at Term SOFR plus 1.75% (the “Class B-R Notes” and, together with the Class A-R Notes, the “Secured Reset Notes”). The Company continues to retain 100% of the subordinated notes issued by the Issuer on the Closing Date of the initial CLO Transaction, which do not bear interest but are entitled to all of the principal and interest payments made on the loan portfolio held by the Issuer, net of interest and principal payments distributed to the holders of the Secured Reset Notes (together with the Secured Notes, the “Reset Notes”). The CLO Reset Transaction is backed by a diversified portfolio of senior secured loans or participation interests therein with the potential for investment in second lien loans or participation interests therein, corporate bonds or loans made to a debtor-in-possession pursuant to Section 364 of the Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the Bankruptcy Code and fully secured by senior liens or participation interests therein, which is managed by the Company as collateral manager pursuant to the Collateral Management Agreement entered into with the Issuer on the Closing Date of the initial CLO Transaction. The Company has agreed to irrevocably waive all collateral management fees payable to it so long as it is the collateral manager under the Collateral Management Agreement. The Reset Notes are scheduled to mature on July 15, 2039; however, the Reset Notes may be redeemed by the Issuer, at the written direction of (i) a majority of the Subordinated Notes (with the consent of the Company, in the case of the Secured Reset Notes) or (ii) the Company, in each case, on any business day on or after the Refinancing Date. The Secured Reset Notes are the secured obligations of the Issuer, the Subordinated Notes are the unsecured obligations of the Issuer, and the indenture governing the Reset Notes includes customary covenants and events of default. The Reset Notes have not been, and will not be, registered under the Securities Act, or any state securities or “blue sky” laws and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from registration. Unfunded Capital Commitments On July 1, 2026, $11,666.67 of the outstanding commitment to Vacation Rental Brands, LLC was funded. The balance of the remaining unfunded commitment was $1,531,000.00 as of such date. From July 9, 2026 to July 30, 2026, $41,507.60 in aggregate was paid down on the Radwell Parent, LLC facility. The balance of the remaining unfunded commitment was $224,140.95 as of such date. On July 17, 2026, $34,038.02 was paid down on the Galway Borrower LLC facility. The balance of the remaining unfunded commitment was $415,902.08 as of such date. On July 23, 2026, $391,935.48 of the outstanding commitment to CoreWeave Financing DDTL V LLC was funded. The balance of the remaining unfunded commitment was $3,832,258.07 as of such date. On July 24, 2026, $14,285.71 was paid down on the Deerfield Dakota Holding, LLC facility. The balance of the remaining unfunded commitment was $557,142.85 as of such date. On July 24, 2026, the Dwyer Instruments, LLC facility was paid down in full. No unfunded commitment remained as of such date. On July 31, 2026, $89,142.86 of the outstanding commitment to Trilon Group LLC was funded. The balance of the remaining unfunded commitment was $155,755.10 as of such date. On August 3, 2026, $28,235.29 of the outstanding commitment to Azuria Water Solutions, Inc. was funded. The balance of the remaining unfunded commitment was $254,117.65 as of such date. On August 4, 2026, $60,187.01 of the outstanding commitment to Radwell Parent, LLC. was funded. The balance of the remaining unfunded commitment was $1,218,787.03 as of such date. Company Rule 10b5-1 Stock Repurchase Plan From July 1, 2026 to August 4, 2026, the Company repurchased 91,860 shares of its common stock pursuant to the Extended Company Rule 10b5-1 Stock Repurchase Plan at an aggregate price of $924,887.

Subsequent Events

6 Months Ended

Jun. 30, 2026

Note 13. Subsequent Events

The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. There have been no subsequent events that require recognition or disclosure in these consolidated financial statements, except for the following:

Distributions

On July 13, 2026, the Company paid a distribution in the amount of $11,994,008, or $0.39 per share, to shareholders on record as of June 26, 2026.

Bank of America Facility Downsize

On July 1, 2026, the Company reduced the amount of aggregate commitments to $350 million from $525 million in accordance with and as permitted under the BoA Credit Facility. The other terms of the BoA Credit Facility were not changed.

CLO Transaction Refinancing

On June 18, 2026, the Company, through Palmer Square BDC CLO 1, Ltd., priced its refinancing of a $300.00 million term debt securitization (the “CLO Reset Transaction”). The CLO Reset Transaction closed on July 15, 2026 (the “Refinancing Date”).

The notes offered in the CLO Reset Transaction were issued by the Issuer, and consist of (i) $228.00 million of AAA Class A-R Notes due 2039, which bear interest at the forward-looking term rate based on the secured overnight financing rate (“Term SOFR”) plus 1.27% (the “Class A-R Notes”); and (ii) $72.00 million of AA Class B-R Notes due 2039, which bear interest at Term SOFR plus 1.75% (the “Class B-R Notes” and, together with the Class A-R Notes, the “Secured Reset Notes”). The Company continues to retain 100% of the subordinated notes issued by the Issuer on the Closing Date of the initial CLO Transaction, which do not bear interest but are entitled to all of the principal and interest payments made on the loan portfolio held by the Issuer, net of interest and principal payments distributed to the holders of the Secured Reset Notes (together with the Secured Notes, the “Reset Notes”).

The CLO Reset Transaction is backed by a diversified portfolio of senior secured loans or participation interests therein with the potential for investment in second lien loans or participation interests therein, corporate bonds or loans made to a debtor-in-possession pursuant to Section 364 of the Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the Bankruptcy Code and fully secured by senior liens or participation interests therein, which is managed by the Company as collateral manager pursuant to the Collateral Management Agreement entered into with the Issuer on the Closing Date of the initial CLO Transaction. The Company has agreed to irrevocably waive all collateral management fees payable to it so long as it is the collateral manager under the Collateral Management Agreement. The Reset Notes are scheduled to mature on July 15, 2039; however, the Reset Notes may be redeemed by the Issuer, at the written direction of (i) a majority of the Subordinated Notes (with the consent of the Company, in the case of the Secured Reset Notes) or (ii) the Company, in each case, on any business day on or after the Refinancing Date.

The Secured Reset Notes are the secured obligations of the Issuer, the Subordinated Notes are the unsecured obligations of the Issuer, and the indenture governing the Reset Notes includes customary covenants and events of default. The Reset Notes have not been, and will not be, registered under the Securities Act, or any state securities or “blue sky” laws and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from registration.

Unfunded Capital Commitments

On July 1, 2026, $11,666.67 of the outstanding commitment to Vacation Rental Brands, LLC was funded. The balance of the remaining unfunded commitment was $1,531,000.00 as of such date.

From July 9, 2026 to July 30, 2026, $41,507.60 in aggregate was paid down on the Radwell Parent, LLC facility. The balance of the remaining unfunded commitment was $224,140.95 as of such date.

On July 17, 2026, $34,038.02 was paid down on the Galway Borrower LLC facility. The balance of the remaining unfunded commitment was $415,902.08 as of such date.

On July 23, 2026, $391,935.48 of the outstanding commitment to CoreWeave Financing DDTL V LLC was funded. The balance of the remaining unfunded commitment was $3,832,258.07 as of such date.

On July 24, 2026, $14,285.71 was paid down on the Deerfield Dakota Holding, LLC facility. The balance of the remaining unfunded commitment was $557,142.85 as of such date.

On July 24, 2026, the Dwyer Instruments, LLC facility was paid down in full. No unfunded commitment remained as of such date.

On July 31, 2026, $89,142.86 of the outstanding commitment to Trilon Group LLC was funded. The balance of the remaining unfunded commitment was $155,755.10 as of such date.

On August 3, 2026, $28,235.29 of the outstanding commitment to Azuria Water Solutions, Inc. was funded. The balance of the remaining unfunded commitment was $254,117.65 as of such date.

On August 4, 2026, $60,187.01 of the outstanding commitment to Radwell Parent, LLC. was funded. The balance of the remaining unfunded commitment was $1,218,787.03 as of such date.

Company Rule 10b5-1 Stock Repurchase Plan

From July 1, 2026 to August 4, 2026, the Company repurchased 91,860 shares of its common stock pursuant to the Extended Company Rule 10b5-1 Stock Repurchase Plan at an aggregate price of $924,887.