v3.26.1
STOCKHOLDERS' EQUITY
6 Months Ended
Jun. 30, 2026
STOCKHOLDERS' EQUITY  
STOCKHOLDERS' EQUITY

NOTE 9 - STOCKHOLDERS’ EQUITY

On March 31, 2023, the Company launched an “at-the-market” offering (the “ATM Program”) by entering into an Equity Distribution Agreement with B. Riley Securities, Inc. pursuant to which the Company may offer and sell, from time to time, through B. Riley Securities, Inc., as the sales agent, shares of its common stock having an aggregate offering amount of up to $35,000.

No shares were issued pursuant to the ATM program during the three and six months ended June 30, 2026 and 2025, respectively.

In October 2025, the Company’s board of directors authorized the Repurchase Program for the purpose of repurchasing up to an aggregate of $15,000 of its common stock on the open market or in privately negotiated purchases at prices below the then-current net asset value per share, in each case in accordance with the guidelines specified in Rule 10b-18 under the Securities Exchange Act of 1934 Repurchase Program. The timing, manner, price and amount of any share repurchases will be determined by the Company, in its sole discretion, based upon an evaluation of economic and market conditions, stock price, applicable legal and regulatory requirements and other factors. The Repurchase Program does not require the Company to repurchase any specific number of shares of common stock or any shares of common stock at all and there can be no assurance that any shares of common stock will be repurchased under the Repurchase Program. The timing and amount of any common stock repurchased depend on the terms and conditions of the Repurchase Program, the market price of the common stock and trading volumes. The Repurchase Program may be suspended, extended, modified or discontinued at any time. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints.

On February 26, 2026, the Company’s board of directors approved a $7,500 increase in the authorized amount available for repurchases under the Repurchase Program up to $22,500.

For the six months ended June 30, 2026, shares purchased under the Repurchase Program, net of commissions paid, were as follows:

Monthly Period ($ in thousands, except share and per share data)

Total Number Of Shares Repurchased

Average Price Paid Per Share

Approximate Dollar Value of Shares Purchased Under the Plan

Approximate Dollar Value of Shares that May Yet be Purchased Under the Plan

January 1, 2026 to January 31, 2026

$

$

$

7,578

February 1, 2026 to February 28, 2026

15,078

March 1, 2026 to March 31, 2026

412,620

7.31

3,016

12,062

April 1, 2026 to April 30, 2026

189,630

7.52

1,426

10,636

May 1, 2026 to May 31, 2026

155,324

7.29

1,132

9,504

June 1, 2026 to June 30, 2026

9,504

Total

757,574

$

7.36

$

5,574

For the year ended December 31, 2025, shares purchased under the Repurchase Program, net of commissions paid, were as follows:

Monthly Period ($ in thousands, except share and per share data)

Total Number Of Shares Repurchased

Average Price Paid Per Share

Approximate Dollar Value of Shares Purchased Under the Plan

Approximate Dollar Value of Shares that May Yet be Purchased Under the Plan

November 1, 2025 to November 30, 2025

261,612

$

7.21

$

1,887

$

13,113

December 1, 2025 to December 31, 2025

747,431

7.40

5,535

7,578

Total

1,009,043

$

7.35

$

7,422