| COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES In the ordinary course of its business, the Company enters into contracts or agreements that contain indemnifications or warranties. While future events could occur that might lead to the enforcement of these provisions against the Company, the Company believes that the likelihood of such an event is remote; however, the maximum potential exposure is unknown. No accrual has been made in the consolidated financial statements as of June 30, 2026 and December 31, 2025 for any such exposure. As of June 30, 2026 and December 31, 2025, the Company had the following unfunded investment commitments: | | | | | | | | | | | | | | | | | | Portfolio Company | | June 30, 2026 | | December 31, 2025 | | | | 360 Holdco, Inc. (360 Training) - Delayed Draw Loan | | $ | 1,157 | | | $ | 3,093 | | | | | AB Centers Acquisition Corporation (Action Behavior Centers) - Delayed Draw Loan | | 1,438 | | | 1,822 | | | | | ACP Maverick Holdings, Inc. - Delayed Draw Loan | | 683 | | | 683 | | | | | All4 Buyer, LLC - Delayed Draw Loan | | 1,502 | | | 1,812 | | | | | Alta Buyer, LLC - Revolving Loan | | 2,209 | | | — | | | | | AmerCareRoyal, LLC - Delayed Draw Loan | | — | | | 165 | | | | | Anne Arundel Dermatology Management, LLC - Delayed Draw Loan | | 366 | | | 366 | | | | | Apex Service Partners, LLC - Revolving Loan | | 30 | | | 41 | | | | | Aprio Advisory Group, LLC - Delayed Draw Loan | | 85 | | | 92 | | | | | Aprio Advisory Group, LLC - Revolving Loan | | 8 | | | 8 | | | | | ARC Health OPCO, LLC - Delayed Draw Loan | | 1,222 | | | 1,222 | | | | | Archer Acquisition, LLC (ARMstrong) - Delayed Draw Loan | | — | | | 305 | | | | | Arctiq, Inc. - Delayed Draw Loan | | 1,315 | | | — | | | | | Ascend Partner Services LLC - Delayed Draw Loan | | — | | | 379 | | | | | Astra Service Partners, LLC - Delayed Draw Loan | | 12 | | | 25 | | | | | Athlete Buyer, LLC (Allstar Holdings) - Delayed Draw Loan | | 2,510 | | | 2,510 | | | | | Bells Parent, Inc. - Revolving Loan | | 13 | | | — | | | | | Big Apple Advisory, LLC - Delayed Draw Loan | | 3,152 | | | 3,324 | | | | | Big Apple Advisory, LLC - Revolving Loan | | 1,740 | | | 1,740 | | | | | Bluebird PM Buyer, Inc. - Delayed Draw Loan | | 1,153 | | | 1,153 | | | | | Bradford Soap International, Inc. - Delayed Draw Loan | | 1,000 | | | 1,000 | | | | | Bridges Consumer Healthcare Intermediate LLC - Delayed Draw Loan | | 5,374 | | | 5,374 | | | | | Canopy Service Partners, LLC - Delayed Draw Loan | | 1,279 | | | — | | | | | CLS Management Services, LLC (Contract Land Staff) - Delayed Draw Loan | | 500 | | | 500 | | | | | CMP Ren Partners I-A LP (LMI Consulting, LLC) | | 15 | | | 15 | | | | | Cobalt Service Partners, LLC - Delayed Draw Loan | | 5,585 | | | 1,617 | | | | | Coding Solutions Acquisition, Inc. - Delayed Draw Loan | | 521 | | | 521 | | | | | Coding Solutions Acquisition, Inc. - Revolving Loan | | 1,246 | | | 1,246 | | | | | Cohen Advisory, LLC - Delayed Draw Loan | | 4,608 | | | 4,608 | | | | | Columbia Home Services LLC - Delayed Draw Loan | | 22 | | | 22 | | | | | CPL Consultants, LLC - Delayed Draw Loan | | 4,263 | | | — | | | | | CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc) - Delayed Draw Loan | | 1,466 | | | 2,615 | | | | | CRCI Longhorn Holdings, Inc. (CRCI Holdings Inc) - Revolving Loan | | 1,925 | | | 1,925 | | | | | Davidson Hotel Company LLC - Delayed Draw Loan | | 715 | | | 1,010 | | | | | Delphi Infrastructure Group LLC (f/k/a Safety Infrastructure Services Intermediate LLC) - Delayed Draw Loan | | — | | | 2,914 | | | | | DH United Holdings, LLC (D&H United Fueling Solutions) - Delayed Draw Loan | | 800 | | | 800 | | | | | Element 78 Partners, LLC (E78) - Delayed Draw Loan | | 15,518 | | | 15,518 | | | | | Emburse, Inc. - Delayed Draw Loan | | 13 | | | 13 | | | | | Emburse, Inc. - Revolving Loan | | 14 | | | 14 | | | | | Env Automation Acquisition, LLC - Delayed Draw Loan | | 28 | | | 33 | | | |
| | | | | | | | | | | | | | | | | | Portfolio Company | | June 30, 2026 | | December 31, 2025 | | | | Environ Energy, LLC - Delayed Draw Loan | | 643 | | | 1,481 | | | | | EVDR Purchaser, Inc. (Alternative Logistics Technologies Buyer, LLC) - Delayed Draw Loan | | 3,040 | | | 3,040 | | | | | Excel Fitness Consolidator LLC - Delayed Draw Loan | | — | | | 1,897 | | | | | FirstCall Mechanical Group, LLC - Delayed Draw Loan | | — | | | 4,400 | | | | | Firstline Road Solutions, LLC - Delayed Draw Loan | | 36 | | | — | | | | | FoodScience, LLC - Delayed Draw Loan | | 4,228 | | | 4,228 | | | | | Force Electrical Buyerco, LLC - Delayed Draw Loan | | 50 | | | 62 | | | | | Gannett Fleming, Inc. - Revolving Loan | | 853 | | | 2,131 | | | | | GNX HBS PARENT, LLC - Delayed Draw Loan | | — | | | 1,481 | | | | | GreyLion TGNL Holdings | | 153 | | | 153 | | | | | Heartland Paving Partners, LLC - Delayed Draw Loan | | 621 | | | 621 | | | | | HLSG Intermediate, LLC - Delayed Draw Loan | | 2 | | | — | | | | | HMN Acquirer Corp. - Delayed Draw Loan | | 1,771 | | | 2,426 | | | | | Impact Advisors, LLC - Delayed Draw Loan | | 6,186 | | | 7,143 | | | | | Industrial Air Flow Dynamics, Inc. - Delayed Draw Loan | | 21 | | | 21 | | | | | Integrated Power Services Holdings, Inc. - Delayed Draw Loan | | — | | | 1,866 | | | | | Kenco PPC Buyer LLC - Delayed Draw Loan | | — | | | 4,111 | | | | | Knight AcquireCo, LLC - Delayed Draw Loan | | 1,250 | | | 1,250 | | | | | KRIV Acquisition, Inc. (Riveron) - Delayed Draw Loan | | 4,884 | | | — | | | | | KRIV Acquisition, Inc. (Riveron) - Revolving Loan | | 266 | | | — | | | | | L.A. Specialty Produce Co., LLC - Delayed Draw Loan | | 20 | | | — | | | | | Lavie Group, Inc. - Delayed Draw Loan | | 276 | | | 276 | | | | | Legacy Service Partners, LLC - Delayed Draw Loan | | 103 | | | 147 | | | | | LH Equity Investors, L.P. | | 56 | | | 56 | | | | | Low Voltage Holdings Inc. - Delayed Draw Loan | | 383 | | | 517 | | | | | Low Voltage Holdings Inc. - Revolving Loan | | 308 | | | 352 | | | | | M&S Holdings Buyer, Inc. - Delayed Draw Loan | | 769 | | | 769 | | | | | MacKay Sposito, LLC - Delayed Draw Loan | | 93 | | | — | | | | | MEI Buyer LLC - Delayed Draw Loan | | 1,574 | | | 1,574 | | | | | Mobile Communications America, Inc. - Delayed Draw Loan | | 1,293 | | | 1,444 | | | | | National Renovations LLC - Delayed Draw Loan | | — | | | 643 | | | | | Naturpak PPC Buyer LLC - Delayed Draw Loan | | 867 | | | 1,111 | | | | | Nellson Nutraceutical, LLC - Delayed Draw Loan | | 72 | | | 72 | | | | | North Haven Fairway Buyer, LLC (Fairway Lawns) - Delayed Draw Loan | | 311 | | | 1,068 | | | | | Online Labels Group, LLC - Delayed Draw Loan | | 605 | | | 605 | | | | | Orion Group FM Holdings, LLC (Leo Facilities) - Delayed Draw Loan | | 7,614 | | | 11,933 | | | | | Ovation Holdings, Inc - Delayed Draw Loan | | — | | | 421 | | | | | Perennial Services Group, LLC - Delayed Draw Loan | | 2,711 | | | 5,288 | | | | | Pinnacle Supply Partners, LLC - Delayed Draw Loan | | 1,636 | | | 1,636 | | | | | PN Buyer, Inc. - Delayed Draw Loan | | 1,111 | | | 1,111 | | | | | RailPros Parent, LLC - Delayed Draw Loan | | 15 | | | 21 | | | | | RailPros Parent, LLC - Revolving Loan | | 11 | | | 11 | | | | | Randys Holdings, Inc. (Randy's Worldwide Automotive) - Delayed Draw Loan | | 36 | | | 692 | | | | | Razor Light, Inc. - Delayed Draw Loan | | 1,435 | | | — | | | | | Razor Light, Inc. - Revolving Loan | | 1,037 | | | — | | | | | Real Chemistry Intermediate III, Inc. - Delayed Draw Loan | | 1,085 | | | 1,496 | | | | | Real Chemistry Intermediate III, Inc. - Revolving Loan | | 1,780 | | | 1,780 | | | |
| | | | | | | | | | | | | | | | | | Portfolio Company | | June 30, 2026 | | December 31, 2025 | | | | Redwood Services Group, LLC (Evergreen Services Group) - Delayed Draw Loan | | — | | | 542 | | | | | REP RO Coinvest IV-A, LP (RoadOne) | | 235 | | | 235 | | | | | Repipe Aggregator, LLC (Repipe Specialists) | | 17 | | | 17 | | | | | Ridge Trail US Bidco, Inc. (Options IT) - Delayed Draw Loan | | 203 | | | 236 | | | | | Ridge Trail US Bidco, Inc. (Options IT) - Revolving Loan | | 79 | | | 57 | | | | | RMS Energy Borrower LLC - Delayed Draw Loan | | 105 | | | 1,231 | | | | | Rose Paving, LLC - Delayed Draw Loan | | — | | | 191 | | | | | Royal Holdco Corporation (RMA Companies) - Delayed Draw Loan | | 855 | | | 2,710 | | | | | SCIC Buyer, Inc. - Delayed Draw Loan | | 2,628 | | | 2,628 | | | | | SEKO Global Logistics Network, LLC - Delayed Draw Loan | | 16 | | | 73 | | | | | SI Solutions, LLC - Delayed Draw Loan | | 4,481 | | | 4,481 | | | | | SkyMark Refuelers, LLC - Delayed Draw Loan | | 1,662 | | | 1,662 | | | | | Smart Wave Technologies, Inc. - Delayed Draw Loan | | 653 | | | — | | | | | Smith & Howard Advisory LLC - Delayed Draw Loan | | — | | | 112 | | | | | Specialty Manufacturing Holdings, LLC - Delayed Draw Loan | | 17 | | | — | | | | | Swoop Intermediate III, Inc. - Delayed Draw Loan | | 1,643 | | | 4,928 | | | | | Swoop Intermediate III, Inc. - Revolving Loan | | 1,776 | | | 1,776 | | | | | Syndigo LLC - Revolving Loan | | 498 | | | 592 | | | | | Tau Buyer, LLC - Delayed Draw Loan | | — | | | 1,165 | | | | | Tau Buyer, LLC - Revolving Loan | | 1,055 | | | 1,445 | | | | | TBRS, Inc. - Delayed Draw Loan | | 1,074 | | | 1,074 | | | | | TBRS, Inc. - Revolving Loan | | 1,294 | | | 1,406 | | | | | Thompson Safety LLC - Delayed Draw Loan | | 77 | | | 81 | | | | | Thompson Safety LLC - Revolving Loan | | 8 | | | 9 | | | | | USA Industries Holdings LLC - Delayed Draw Loan | | 36 | | | 36 | | | | | USA Water Intermediate Holdings, LLC - Delayed Draw Loan | | 571 | | | 996 | | | | | Vensure Employer Services, Inc. - Delayed Draw Loan | | — | | | 52 | | | | | Venture Buyer, LLC (Velosio) - Delayed Draw Loan | | 1,059 | | | 1,059 | | | | | Vessco Midco Holdings, LLC - Delayed Draw Loan | | 76 | | | 792 | | | | | Vessco Midco Holdings, LLC - Revolving Loan | | 1,726 | | | 1,726 | | | | | Waldo Buyer, LLC - Delayed Draw Loan | | 19 | | | — | | | | | Waldo Buyer, LLC - Revolving Loan | | 13 | | | — | | | | | Watermill Express, LLC - Delayed Draw Loan | | 1,880 | | | 1,880 | | | | | WCI-Momentum Bidco, LLC - Delayed Draw Loan | | 17 | | | 17 | | | | | Yard-Nique, Inc. - Delayed Draw Loan | | 161 | | | — | | | | Total unfunded commitments (1) | | $ | 136,626 | | | $ | 161,028 | | | |
_______________ (1)Represents the full amount of the Company's commitments to fund investments as of such date. Commitments may be subject to limitations on borrowings set forth in the agreements between the Company and the applicable portfolio company. As a result, portfolio companies may not be eligible to borrow the full commitment amount on such date.
The Company seeks to carefully consider its unfunded investment commitments for the purpose of planning its ongoing liquidity. As of June 30, 2026, the Company had adequate financial resources to satisfy its unfunded investment commitments.
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