Financial Highlights

9 Months Ended

Sep. 30, 2023

The following is a schedule of financial highlights for the nine months ended September 30, 2023 and 2022:


	For the the nine months ended September 30,
	2023			2022
Per share data:
Net asset value attributable to common stock, beginning of period	$	15.13		$	15.46

Results of operations (1)
Net investment income (loss)	1.57			1.18
Net realized and unrealized gain (loss) on investments, net of change in deferred taxes	(0.10)			(0.36)
Net increase (decrease) in net assets resulting from operations attributable to common stockholders and participating securities	1.47			0.82

Accretion to redemption value of Series A redeemable convertible preferred stock (1)(8)	—			—
Accrual of Series A redeemable convertible preferred stock distributions (1)	(0.21)			(0.05)
Net increase (decrease) in net assets resulting from operations attributable to common stockholders	1.26			0.77

Stockholder distributions (2)
Common stockholder distributions from net investment income	(1.29)			(1.08)
Net decrease in net assets resulting from stockholder distributions	(1.29)			(1.08)


Net asset value attributable to common stock, end of period	$	15.10		$	15.15

Common shares outstanding at end of period	25,862,766			23,182,891
Total return (3)	8.57		%	5.06		%
Ratio/Supplemental data attributable to common stock:
Total net assets attributable to common stock, end of period	$	390,570		$	351,279

Ratio of net investment income to average net assets attributable to common stock (4)	13.90		%	9.83		%
Ratio of total expenses to average net assets attributable to common stock (4)(5)	12.33		%	9.08		%

Ratio of net expenses to average net assets attributable to common stock (4)(6)	10.77		%	8.13		%

Portfolio turnover rate (7)	5.95		%	5.97		%

—–—–—–—–—–

(1) The per share data was derived by using the weighted average common shares outstanding during the period.

(2) The per share data for distributions reflects the actual amount of distributions declared per share during the period.

(3) Total return is calculated assuming a purchase of shares of Common Stock at the current net asset value attributable to Common Stock on the first day and a sale at the current net asset value attributable to Common Stock on the last day of the periods reported. Common Stock distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the DRIP. Total return is not annualized.

(4) Ratios are annualized, except for incentive fees and waivers.

(5) Ratio of total expenses to average net assets attributable to common stock is calculated using total operating expenses, including income tax expense over average net assets attributable to common stock.

(6) Ratio of net expenses to average net assets attributable to common stock is calculated using total operating expenses, including income tax expense, less applicable waivers over average net assets attributable to common stock.

(7) Portfolio turnover rate is calculated using the lesser of year-to-date purchases or sales over the average of the invested

assets at fair value.

(8) Rounds to less than $0.01 per share.