Distributions	6 Months Ended
Jun. 30, 2026
Distributions [Abstract]
DISTRIBUTIONS	NOTE 9. DISTRIBUTIONS The Company intends to continue to operate so as to qualify to be taxed as a RIC under the Code and, as such, the Company would not be subject to federal income tax on the portion of its taxable income and gains distributed to stockholders. To qualify to be taxed as a RIC, the Company is required, among other requirements, to distribute at least 90% of its annual investment company taxable income, as defined by the Code. The amount to be paid out as a distribution each quarter is determined by the Board and is based upon the annual taxable income estimated by the management of the Company. Income calculated in accordance with U.S. federal income tax regulations differs substantially from GAAP income. To the extent that the Company’s cumulative undistributed taxable earnings fall below the amount of distributions declared, however, a portion of the total amount of the Company’s distributions for the fiscal year may be deemed a return of capital for tax purposes to the Company’s stockholders. The Company intends to comply with the applicable provisions of the Code pertaining to RICs to make distributions of taxable income sufficient to relieve it of substantially all federal income taxes. The Company, at its discretion, may carry forward taxable income in excess of calendar year distributions and pay a 4% excise tax on such income. The Company will accrue excise tax on estimated excess taxable income, if any, as required. The Company did not accrue any estimated excise tax payable for estimated 2025 and 2026 excise tax on undistributed taxable income as of June 30, 2026, as the Company estimates that there will be no excise tax for those periods. As such, the Company reversed approximately $419,000 of previously accrued excise tax related to estimated excess undistributed taxable income as of December 31, 2025. Additionally, the Company reversed approximately $105,000 of estimated 2026 excise tax on estimated undistributed taxable income accrued for the three months ended March 31, 2026. The Company has adopted an “opt out” distribution reinvestment plan for its common stockholders. As a result, if the Company makes a cash distribution, then stockholders’ cash distributions will be automatically reinvested in additional shares of common stock, unless they specifically “opt out” of the distribution reinvestment plan so as to receive cash distributions. During the three months ended June 30, 2026 and 2025, the Company issued 354,277 and 106,066 shares, respectively, of common stock for approximately $493,000 and $238,000, respectively, to stockholders in connection with the distribution reinvestment plan. During the six months ended June 30, 2026 and 2025, the Company issued 559,382 and 193,156 shares, respectively, of common stock for approximately $842,000 and $462,000, respectively, to stockholders in connection with the distribution reinvestment plan. For the three months ended June 30, 2026, the Company paid distributions of approximately $10.5 million, or $0.105 per share. For the six months ended June 30, 2026, the Company paid distributions of approximately $19.8 million, or $0.21 per share. For the year ended December 31, 2025, the Company paid distributions of approximately $32.1 million, or $0.42 per share. Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), the Company is permitted to carry forward capital losses incurred in taxable years beginning after the date of enactment for an unlimited period. However, any losses incurred during those future taxable years will be required to be utilized prior to the losses incurred in pre-enactment taxable years, which carry an expiration date. As a result of this ordering rule, pre-enactment capital loss carryforwards may be more likely to expire unused. Additionally, post-enactment capital losses that are carried forward will retain their character as either short-term or long-term losses rather than being considered all short-term as under previous law. For the six months ended June 30, 2026, the amounts and sources of distributions reported are only estimates (based on an average of the reported tax character historically) and are not being provided for U.S. federal income tax reporting purposes. The timing and character of distributions for U.S. federal income tax purposes (which are determined in accordance with the U.S. federal tax rules which may differ from GAAP) may be materially different than the historical information the Company used in providing the estimates herein. The final determination of the source of all distributions in 2026 will be made after year-end and the amounts represented may be materially different from the amounts disclosed in the final Form 1099-DIV notice. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Company’s investment performance and may be subject to change based on tax regulations.

Distributions

6 Months Ended

Jun. 30, 2026

NOTE 9. DISTRIBUTIONS

The Company intends to continue to operate so as to qualify to be taxed as a RIC under the Code and, as such, the Company would not be subject to federal income tax on the portion of its taxable income and gains distributed to stockholders. To qualify to be taxed as a RIC, the Company is required, among other requirements, to distribute at least 90% of its annual investment company taxable income, as defined by the Code. The amount to be paid out as a distribution each quarter is determined by the Board and is based upon the annual taxable income estimated by

the management of the Company. Income calculated in accordance with U.S. federal income tax regulations differs substantially from GAAP income. To the extent that the Company’s cumulative undistributed taxable earnings fall below the amount of distributions declared, however, a portion of the total amount of the Company’s distributions for the fiscal year may be deemed a return of capital for tax purposes to the Company’s stockholders.

The Company intends to comply with the applicable provisions of the Code pertaining to RICs to make distributions of taxable income sufficient to relieve it of substantially all federal income taxes. The Company, at its discretion, may carry forward taxable income in excess of calendar year distributions and pay a 4% excise tax on such income. The Company will accrue excise tax on estimated excess taxable income, if any, as required. The Company did not accrue any estimated excise tax payable for estimated 2025 and 2026 excise tax on undistributed taxable income as of June 30, 2026, as the Company estimates that there will be no excise tax for those periods. As such, the Company reversed approximately $419,000 of previously accrued excise tax related to estimated excess undistributed taxable income as of December 31, 2025. Additionally, the Company reversed approximately $105,000 of estimated 2026 excise tax on estimated undistributed taxable income accrued for the three months ended March 31, 2026.

The Company has adopted an “opt out” distribution reinvestment plan for its common stockholders. As a result, if the Company makes a cash distribution, then stockholders’ cash distributions will be automatically reinvested in additional shares of common stock, unless they specifically “opt out” of the distribution reinvestment plan so as to receive cash distributions. During the three months ended June 30, 2026 and 2025, the Company issued 354,277 and 106,066 shares, respectively, of common stock for approximately $493,000 and $238,000, respectively, to stockholders in connection with the distribution reinvestment plan. During the six months ended June 30, 2026 and 2025, the Company issued 559,382 and 193,156 shares, respectively, of common stock for approximately $842,000 and $462,000, respectively, to stockholders in connection with the distribution reinvestment plan. For the three months ended June 30, 2026, the Company paid distributions of approximately $10.5 million, or $0.105 per share. For the six months ended June 30, 2026, the Company paid distributions of approximately $19.8 million, or $0.21 per share. For the year ended December 31, 2025, the Company paid distributions of approximately $32.1 million, or $0.42 per share.

Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), the Company is permitted to carry forward capital losses incurred in taxable years beginning after the date of enactment for an unlimited period. However, any losses incurred during those future taxable years will be required to be utilized prior to the losses incurred in pre-enactment taxable years, which carry an expiration date. As a result of this ordering rule, pre-enactment capital loss carryforwards may be more likely to expire unused. Additionally, post-enactment capital losses that are carried forward will retain their character as either short-term or long-term losses rather than being considered all short-term as under previous law.

For the six months ended June 30, 2026, the amounts and sources of distributions reported are only estimates (based on an average of the reported tax character historically) and are not being provided for U.S. federal income tax reporting purposes. The timing and character of distributions for U.S. federal income tax purposes (which are determined in accordance with the U.S. federal tax rules which may differ from GAAP) may be materially different than the historical information the Company used in providing the estimates herein. The final determination of the source of all distributions in 2026 will be made after year-end and the amounts represented may be materially different from the amounts disclosed in the final Form 1099-DIV notice. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Company’s investment performance and may be subject to change based on tax regulations.