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        
Total investment income $ 40,022,289 $ 51,464,997 $ 82,605,368 $ 107,353,912
Operating expenses        
Interest and other debt expenses 14,995,567 17,087,833 31,044,015 34,172,466
Management fees 4,235,490 5,461,118 8,891,551 10,944,962
Professional fees 762,127 947,452 2,243,187 1,814,899
Administrative expenses 409,939 509,930 909,733 1,151,394
Insurance expense 210,692 218,463 421,383 436,926
Director fees 182,500 192,500 375,000 385,000
Custody fees 74,243 91,348 166,199 184,533
Other operating expenses 1,009,353 1,182,050 1,935,027 2,114,708
Total operating expenses, before management fee waiver 21,879,911 25,690,694 45,986,095 51,204,888
Management fee waiver (Note 3) 0 (1,820,372) 0 (3,648,320)
Total operating expenses, after management fee waiver 21,879,911 23,870,322 45,986,095 47,556,568
Net investment income 18,142,378 27,594,675 36,619,273 59,797,344
Net realized gain (loss):        
Net realized gain (loss) (14,753,910) (66,297,375) (47,484,759) (107,214,713)
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) 1,258,675 22,796,116 (789,259) 52,405,373
Net realized and unrealized gain (loss) (13,495,235) (43,501,259) (48,274,018) (54,809,340)
Realized loss on extinguishment of debt (2,897,355) 0 (2,897,355) 0
Net increase (decrease) in net assets resulting from operations $ 1,749,788 $ (15,906,584) $ (14,552,100) $ 4,988,004
Basic earnings (loss) per share $ 0.02 $ (0.19) $ (0.17) $ 0.06
Diluted earnings (loss) per share $ 0.02 $ (0.19) $ (0.17) $ 0.06
Basic weighted average common shares outstanding 83,915,423 85,042,931 84,124,040 85,060,179
Diluted weighted average common shares outstanding 83,915,423 85,042,931 84,124,040 85,060,179
Non-Controlled, Non-Affiliated Investments        
Investment income        
Interest income (excluding PIK) $ 32,485,660 $ 41,609,217 $ 67,540,767 $ 85,065,954
PIK interest income 2,625,720 5,449,424 5,465,634 11,238,339
Dividend income 510,223 449,575 1,003,276 885,526
Other income 4,890 1,399 5,877 1,965
Net realized gain (loss):        
Net realized gain (loss) (4,783,556) (66,287,884) (26,052,389) (107,205,222)
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) (4,900,616) 40,313,699 (17,079,205) 66,868,692
Non-Controlled, Affiliated Investments        
Investment income        
Interest income (excluding PIK) 445,963 338,648 905,445 676,647
PIK interest income 402,924 0 748,701 0
Dividend income 0 213,493 0 1,222,550
Net realized gain (loss):        
Net realized gain (loss) [1]     0  
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) (1,970,942) (3,203,412) (4,143,910) [1] (2,282,254)
Controlled Investments        
Investment income        
Interest income (excluding PIK) 1,846,909 2,270,542 3,906,047 4,579,811
PIK interest income 0 394,202 415,331 1,075,763
Dividend income 1,700,000 738,497 2,614,290 2,607,357
Net realized gain (loss):        
Net realized gain (loss) (9,970,354) 0 (21,432,370) [2] 0
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) 8,130,233 (14,296,084) 20,433,856 [2] (12,171,749)
Interest Rate Swap        
Net realized gain (loss):        
Net realized gain (loss) 0 (9,491) 0 (9,491)
Net change in unrealized appreciation (depreciation):        
Net change in unrealized appreciation (depreciation) $ 0 $ (18,087) $ 0 $ (9,316)
[1] The issuers of the securities listed on this schedule are considered non-controlled affiliates under the 1940 Act due to the ownership by the Company of 5% to 25% of the issuers’ voting securities.
[2] The issuers of the securities listed on this schedule are considered controlled affiliates under the 1940 Act due to the ownership by the Company of more than 25% of the issuers’ voting securities.