Note 12 - Subsequent Events

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Subsequent Events [Text Block]

12. Subsequent Events

Offerings

In July 2026, the Company’s board of directors approved new per share offering prices for each share class in the Private Offering. The new offering prices are effective as of July 31, 2026. The following table provides the new offering prices and applicable upfront selling commissions and dealer manager fees for each share class available in the Private Offering:

		Class FA				Class A				Class T				Class I
Effective July 31, 2026:
Offering Price, Per Share		$	24.99			$	27.31			$	26.24			$	24.99
Selling Commissions, Per Share			—				1.64				0.79				—
Dealer Manager Fees, Per Share			—				0.68				0.46				—

Capital Transactions

During the period July 1, 2026 through August 12, 2026, the Company received additional net proceeds from the Private Offering and distribution reinvestment plan of the following:

		*Proceeds from Private Offering*																*Distribution Reinvestment Plan*								*Total*
														*Net*								*Net*								*Net*				*Average*
														*Proceeds*								*Proceeds*								*Proceeds*				*Net*
						*Gross*				*Sales*				to								to								to				*Proceeds*
Share Class		*Shares*				*Proceeds*				*Load*				*Company*				*Shares*				*Company*				*Shares*				*Company*				*per Share*
Class E			11,600			$	290,000			$	—			$	290,000				—			$	—				11,600			$	290,000			$	25.00
Class FA			122,229				3,054,500				—				3,054,500				503				12,577				122,732				3,067,077			$	24.99
			133,829			$	3,344,500			$	—			$	3,344,500				503			$	12,577				134,332			$	3,357,077			$	24.99

Investments

In July and August 2026, the Company purchased $36,776,971 in residential mortgage whole loans.

Repurchase Agreement

In July and August 2026, Craftsman drew an additional $28,940,050 on the Repurchase Agreement to purchase additional securities.

On July 16, 2026, the Company and Goldman Sachs entered into a Guaranty Amendment which amends the Guaranty Agreement previously entered into by such parties to provide a guaranty to the Repurchase Agreement. The Guaranty Amendment extends the period during which the Company is required to maintain a lower cash liquidity covenant under the Guaranty Agreement to eleven months following January 30, 2026.

Forward Trades

In August 2026, Craftsman purchased all residential mortgage loans subject to forward trade contracts with Barclays outstanding as of June 30, 2026.