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SHAREHOLDERS' CAPITAL
 9 Months Ended
Sep. 30, 2026
SHAREHOLDERS’ CAPITAL [Abstract]  
SHAREHOLDERS' CAPITAL

(7)  SHAREHOLDERS’ CAPITAL

 

The following table summarizes the total Common Shares issued and proceeds received from the closings of the Company’s continuous private offerings that occurred for the nine months ended September 30, 2026.

 

Date Received  Shares Issued   Proceeds Received 
January 2, 2026   502,788   $12,625 
February 2, 2026   760,191    19,058 
March 2, 2026   1,149,666    28,592 
April 1, 2026   377,517    9,336 
May 1, 2026   102,024    2,520 
June 1, 2026   137,784    3,395 
July 1, 2026   263,174    6,503 
August 3, 2026   209,520    5,163 
September 1, 2026   565,990    13,946 
Total   4,068,654   $101,138 
         

The following table summarizes the total Common Shares issued and proceeds received from the closings of the Company’s continuous private offerings that occurred for the nine months ended September 30, 2025.

         
Date Received  Shares Issued   Proceeds Received 
February 12, 2025   
N/A
(1)    $7,500 
February 27, 2025   
N/A
(1)    14,300 
March 28, 2025   
N/A
(1)    15,000 
April 30, 2025   1,000,801    25,000 
June 30, 2025   796,178    20,000 
August 1, 2025   318,835    8,003 
September 2, 2025   199,203    5,000 
Total   2,315,017   $94,803 

 

(1) Prior to the Conversion Date, the Company did not issue shares.

 

As of September 30, 2026 and as of December 31, 2025, Lord Abbett and certain registered investment companies and other pooled vehicles advised by Lord Abbett collectively own approximately 60% and 100%, respectively, of the Company.

 

Distribution Reinvestment Plan

 

Shareholders whose Common Shares are registered with State Street Bank and Trust Company (the “Agent”) will automatically be enrolled (the “Participants”) in the Company’s Dividend Reinvestment Plan (the “DRIP”). The Company will declare its income dividends or capital gains or other distributions (“Distributions”) payable in Common Shares, or, at the option of shareholders, in cash. Therefore, each Participant will have all Distributions, net of any applicable U.S. withholding taxes, on his or her Common Shares automatically reinvested (net of applicable withholding tax) in additional Common Shares, unless such Participant elects to receive such Distributions in cash by contacting the Agent. An election to receive cash may be revoked or reinstated at the election of the shareholders. On the payment date for a Distribution, the Agent shall receive newly issued Common Shares (“Additional Shares”), including fractions, from the Company for each Participant’s account.The number of Additional Shares to be credited shall be determined by dividing the dollar amount of the Distribution by the net asset value per Common Share on the payment date. The net asset value per Common Share on a particular date shall be the amount calculated on that date (or if not calculated on such date, the amount most recently calculated) by or on behalf of the Company in accordance with the Company’s current private placement memorandum. It is contemplated that the Company will pay dividends at least quarterly. If, for any reason beyond the control of the Agent, reinvestment of the Distributions cannot be completed within thirty (30) days after the applicable payment date for such Distribution, funds held by the Agent on behalf of a Participant will be distributed to that Participant.

 

The following table summarizes the Company’s distributions declared, paid and payable for the nine months ended September 30, 2026:

 

Date Declared  Record Date  Payment Date  Per Share   Total Amount 
January 23, 2026  January 31, 2026  February 25, 2026  $0.19   $1,060 
February 24, 2026  February 28, 2026  March 26, 2026   0.19    1,203 
Date Declared  Record Date  Payment Date  Per Share   Total Amount 
March 23, 2026  March 31, 2026  April 29, 2026  $0.19   $1,423 
April 20, 2026  April 30, 2026  May 29, 2026   0.19    1,495 
May 26, 2026  May 31, 2026  June 26, 2026   0.19    1,516 
June 23, 2026  June 30, 2026  July 28, 2026   0.19    1,544 
July 21, 2026  July 31, 2026  August 27, 2026   0.19    1,595 
August 24, 2026  August 31, 2026  September 28, 2026   0.19    1,636 
September 21, 2026  September 30, 2026  October 29, 2026   0.19    1,746 
Total             $13,218 

 

The following table summarizes the amounts received and Common Shares issued to shareholders who have participated in the DRIP for the nine months ended September 30, 2026:

 

Payment Date  DRIP Shares Issued   Amount per Share   DRIP Shares Value 
February 25, 2026   189   $25.07   $5 
March 26, 2026   1,588    24.87    39 
April 29, 2026   4,807    24.73    119 
May 29, 2026   6,677    24.70    165 
June 26, 2026   7,017    24.64    175 
July 28, 2026   7,548    24.71    186 
August 27, 2026   8,488    24.64    209 
September 28, 2026   9,186    24.64    225 
Total   45,500        $1,123 

 

The following table summarizes the Company’s distributions declared and paid for the nine months ended September 30, 2025:

 

Date Declared  Record Date  Payment Date  Per Share   Total Amount 
March 28, 2025  March 28, 2025  March 28, 2025  $
  N/A(1)
   $984 
June 30, 2025  June 30, 2025  July 10, 2025   0.45    1,850 
July 24, 2025  July 31, 2025  August 27, 2025   0.21    914 
August 25, 2025  August 31, 2025  September 26, 2025   0.21    923 
September 23, 2025  September 30, 2025  October 28, 2025   0.19    873 
Total             $5,544 

 

(1) Prior to the Conversion Date, the Company had no shares outstanding.

 

Share Repurchase Program

 

The Company commenced a share repurchase program in which it intends to repurchase up to 5% of the Common Shares outstanding as of the close of the previous calendar quarter, at the discretion of the Board. The Board may amend, suspend or terminate the share repurchase program if in its reasonable judgment it deems such action to be in the Company’s best interest and the best interest of our shareholders. As a result, share repurchases may not be available each quarter. Should the Board suspend the share repurchase program, the Board will consider whether the continued suspension of the program is in the best interests of the Company and its shareholders on a quarterly basis. However, the Board is not required to authorize the recommencement of the share repurchase program within any specified period of time. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Exchange Act. All shares purchased by the Company pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued shares.

 

On April 30, 2026, under the Company’s share repurchase program, the Company made a tender offer to purchase up to 316,839.86 Common Shares, which represents approximately 5% of the Company’s outstanding shares as of February 28, 2026. The tender offer was for cash at a price equal to the net asset value per share as of June 30, 2026. The offer expired at 11:59 P.M., Eastern Time, on May 29, 2026. No shares were validly tendered prior to the expiration of the offer.

On July 30, 2026, under the Company’s share repurchase program, the Company made a tender offer to purchase up to 398,953.88 Common Shares, which represents approximately 5% of the Company’s outstanding shares as of May 31, 2026. The tender offer was for cash at a price equal to the net asset value per share as of September 30, 2026. The offer expired at 11:59 P.M., Eastern Time, on August 27, 2026. No shares were validly tendered prior to the expiration of the offer.