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Financial Highlights (Tables)
 3 Months Ended
Mar. 31, 2024
Investment Company, Financial Highlights [Abstract]  
Schedule of Financial Highlights of the Company

Below is the schedule of financial highlights of the Company:

 

 

For the Three Months Ended March 31,

 

 

2024

 

 

2023

 

 

Per Share Data:(1)

 

 

 

 

 

 

 

Net asset value, beginning of period

 

$

12.99

 

 

$

11.16

 

 

Net investment income

 

 

0.37

 

 

 

0.37

 

 

Net realized gains (loss)

 

 

0.27

 

 

 

0.24

 

 

Net change in unrealized appreciation (depreciation)

 

 

(0.69

)

 

 

0.46

 

 

Net increase (decrease) in net assets resulting from operations

 

 

(0.05

)

 

 

1.07

 

 

Issuance of common stock

 

 

(0.02

)

 

 

0.00

 

 

Distributions declared from net investment income(2)

 

 

(0.35

)

 

 

(0.35

)

 

Net decrease resulting from distributions to common stockholders

 

 

(0.37

)

 

 

(0.35

)

 

Net asset value, end of period

 

$

12.57

 

 

$

11.88

 

 

Per share market value, end of period

 

$

11.06

 

 

$

9.00

 

 

 

 

 

 

 

 

 

 

Shares outstanding, end of period

 

 

9,452,382

 

 

 

7,601,958

 

 

Total return based on net asset value(3)

 

 

(0.53

)%

 

 

9.59

%

 

Total return based on market value(3)

 

 

7.14

%

 

 

12.79

%

 

 

 

 

 

 

 

 

 

Ratio/Supplemental Data:

 

 

 

 

 

 

 

Net assets, end of period

 

 

118,795

 

 

 

90,308

 

 

Ratio of total expenses to average net assets before waiver (4),(5)

 

 

18.51

%

 

 

22.96

%

 

Ratio of total expenses to average net assets after waiver (4),(5),(6)

 

 

18.51

%

 

 

22.96

%

 

Ratio of incentive fees to average net assets(4)

 

 

0.72

%

 

 

0.80

%

 

Ratio of net investment income to average net assets(4),(5),(6)

 

 

13.71

%

 

 

15.38

%

 

Portfolio turnover

 

 

12

%

 

 

24

%

 
(1)
The per share data was derived by using the weighted average shares outstanding during the period, except where such calculations deviate from those specified under the instructions to Form N-2.
(2)
The per share data for distributions declared reflects the actual amount of distributions of record per share for the period.
(3)
Total return based on net asset value is calculated as the change in net asset value per share, assuming the Company’s distributions were reinvested through its dividend reinvestment plan. Total return based on market value is calculated as the change in market value per share, assuming the Company’s distributions were reinvested through its dividend reinvestment plan. Total return does not include any estimate of a sales load or commission paid to acquire shares.
(4)
Average net assets used in ratio calculations is calculated using monthly ending net assets for the period presented. For the three months ended March 31, 2024 and 2023 average net assets were $110,908 and $88,957, respectively.
(5)
Annualized for periods less than one year.
(6)
Ratio for the three months ended March 31, 2023 reflects the impact of the incentive fee waiver described in Note 3.