v3.26.1
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES (unaudited)
Mar. 31, 2026
USD ($)
$ / shares
Assets  
Non-controlled, non-affiliated investments at fair value (cost of $345,918,978) $ 279,237,624 [1],[2],[3]
Cash and cash equivalents 112,730,935
Interest receivable 1,290,660
Prepaid expenses and other assets 1,617,704
Total assets 394,876,923
Liabilities  
Accrued interest 2,065,620
Distribution payable 1,176,442
Management fee payable 739,247
Income based incentive fee payable 1,023,725
Accrued direct administrative expenses 717,039
Director fees payable 63,750
Accounts payable and other liabilities 823,992
Senior notes payable, net 76,448,216
Total liabilities 209,058,031
Commitments and contingencies (Note 8)
Net assets  
Common stock, par value $0.01 per share, 50,000,000 shares authorized; 23,528,844 shares issued and outstanding at March 31, 2026 235,288
Additional paid-in capital 258,694,609
Distributable (loss) earnings (73,111,005)
Total net assets 185,818,892
Total liabilities and net assets $ 394,876,923
Net asset value per share (in dollars per share) | $ / shares $ 7.90
Nonrelated Party  
Liabilities  
Line of credit payable $ 106,000,000
Related Party  
Liabilities  
Line of credit payable $ 20,000,000
[1] All debt investments are income producing unless otherwise indicated.
[2] The Company’s investments are all first lien senior term loans that are geographically located in the United States.
[3] Refer to Note 5.