v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Operating activities          
Net increase (decrease) in net assets resulting from operations $ 1,749,788 $ (15,906,584) $ (14,552,100) $ 4,988,004  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Net realized (gain) loss     47,484,759 107,214,713  
Realized loss on extinguishment of debt 2,897,355 0 2,897,355 0  
Change in net unrealized (appreciation) depreciation of investments     789,259 (52,405,373)  
Net amortization of investment discounts and premiums     (5,107,513) (7,353,577)  
Amortization of original issue discount on debt     315,689 119,956  
Interest and dividend income paid in kind     (6,629,666) (12,314,102)  
Amortization of deferred debt issuance costs     1,917,572 2,618,207  
Changes in assets and liabilities:          
Purchases of investments     (39,990,344) (163,597,176)  
Proceeds from disposition of investments     247,076,742 132,596,189 $ 352,700,346
Decrease (increase) in interest, dividends and fees receivable     (3,006,670) (1,786,299)  
Decrease (increase) in due from broker     0 851,683  
Decrease (increase) in receivable for investments sold     26,313,406 (3,753,008)  
Decrease (increase) in prepaid expenses and other assets     852,682 1,222,443  
Increase (decrease) in payable for investments purchased     0 4,919,403  
Increase (decrease) in interest and debt related payables     (2,870,821) 209,673  
Increase (decrease) in Interest Rate Swap, at fair value     0 (774,861)  
Increase (decrease) in reimbursements due to the Advisor     (1,102,762) 463,576  
Increase (decrease) in management fees payable     731,186 (2,264,755)  
Increase (decrease) in accrued expenses and other liabilities     312,729 (312,467)  
Net cash provided by (used in) operating activities     255,431,503 10,642,229  
Financing activities          
Draws on credit facilities     342,656,976 137,000,000  
Repayments of credit facility draws     (547,860,458) (82,279,620)  
Proceeds from issuance of secured notes     405,412,200 0  
Repayment of unsecured notes     (325,033,026) 0  
Payments of debt issuance costs     (2,681,759) 0  
Dividends paid to shareholders     (28,582,421) (49,333,355)  
Repurchase of shares     (2,871,849) (301,378)  
Net cash provided by (used in) financing activities     (158,960,337) 5,085,647  
Net increase (decrease) in cash and cash equivalents (including restricted cash)     96,471,166 15,727,876  
Cash and cash equivalents (including restricted cash) at beginning of period     61,075,494 91,589,702 91,589,702
Cash and cash equivalents (including restricted cash) at end of period $ 157,546,660 $ 107,317,578 157,546,660 107,317,578 $ 61,075,494
Supplemental cash flow information          
Interest payments     31,550,361 30,489,695  
Excise tax payments     $ 683,619 $ 478,159