| Financial Highlights |
10. Financial Highlights
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Nine Months Ended September 30, |
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2026 |
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2025 |
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Per Common Share |
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Per share NAV at beginning of period |
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$ |
7.07 |
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$ |
9.23 |
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Investment operations: |
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Net investment income (1) |
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0.59 |
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1.02 |
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Net realized and unrealized gain (loss) (1) |
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(1.51 |
) |
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(0.67 |
) |
Total from investment operations |
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(0.92 |
) |
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0.35 |
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Repurchase of common stock |
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0.02 |
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0.00 |
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Loss on extinguishment of debt |
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(0.05 |
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— |
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Dividends to common shareholders |
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(0.51 |
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(0.87 |
) |
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Per share NAV at end of period |
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$ |
5.61 |
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$ |
8.71 |
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Per share market price at end of period |
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$ |
4.00 |
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$ |
6.20 |
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Total return based on market value (2) (3) |
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(17.6 |
)% |
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(18.8 |
)% |
Total return based on net asset value (2) (4) |
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(13.4 |
)% |
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3.8 |
% |
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Shares outstanding at end of period |
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83,902,775 |
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85,011,001 |
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Ratios to average common equity: (5) |
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Net investment income |
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11.9 |
% |
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15.0 |
% |
Expenses, before incentive fee, and management fee waiver |
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14.6 |
% |
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13.1 |
% |
Expenses, net of incentive fee, before management fee waiver |
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14.6 |
% |
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13.1 |
% |
Management fee waiver |
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— |
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(0.9 |
)% |
Expenses, net of incentive fee, and management fee waiver |
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14.6 |
% |
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12.2 |
% |
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Ending common shareholder equity |
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$ |
470,989,775 |
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$ |
740,023,663 |
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Portfolio turnover rate |
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4.4 |
% |
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13.5 |
% |
Weighted-average debt outstanding |
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$ |
829,939,871 |
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$ |
1,138,084,449 |
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Weighted-average interest rate on debt |
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6.0 |
% |
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5.4 |
% |
Weighted-average number of common shares |
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84,049,474 |
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85,051,475 |
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Weighted-average debt per share |
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$ |
9.87 |
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$ |
13.38 |
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(1)Amounts shown reflect the impact of the purchase discount recorded in connection with the Merger and were computed based on the actual amounts earned or incurred by the Company divided by the actual shares outstanding in the respective accounting periods before and after the closing of the Merger on March 18, 2024. (3)Total return based on market value equals the change in ending market value per share during the period plus declared dividends per share during the period, divided by the market value per share at the beginning of the period. (4)Total return based on net asset value equals the change in net asset value per share during the period plus declared dividends per share during the period, divided by the beginning net asset value per share. (5)Annualized, except for incentive fee, if any.
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