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Net Assets | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Net Assets | 9. NET ASSETS At-the-market (“ATM”) Offering The Company may, from time to time, issue and sell shares of its common stock through public or ATM offerings. During the three and six months ended June 30, 2026, there was no equity distribution agreement in effect. On November 15, 2023, the Company entered into an equity distribution agreement (the “2023 Equity Distribution Agreement”) by and among the Company, GSAM and Truist Securities Inc. (“Truist”). On and effective June 5, 2025, the Company terminated the 2023 Equity Distribution Agreement in accordance with its terms. The 2023 Equity Distribution Agreement provided that the Company could, from time to time, issue and sell shares of its common stock, par value $0.001 per share, having an aggregate offering price of up to $200,000, through Truist, or to Truist as principal for its own account. Sales of the shares, if any, were made in negotiated transactions or transactions that were deemed to be an ATM offering as defined in Rule 415(a)(4) under the Securities Act including sales made directly on or through the New York Stock Exchange or a similar securities exchange, sales made to or through a market maker other than on an exchange, at market prices related to prevailing market prices or negotiated prices, sales made through any other existing trading market or electronic communications network, or by any other method permitted by law, including but not limited to privately negotiated transactions, which may have included block trades, as the Company and Truist agreed. Truist received a commission from the Company of up to 1.00% of the gross sales price of any shares sold through or to Truist under the 2023 Equity Distribution Agreement. During the three and six months ended June 30, 2025, the Company did not issue or sell any shares of common stock through ATM offerings. Distributions The Company has adopted a DRIP that provides for the automatic reinvestment of all cash distributions declared by the Board of Directors unless a stockholder elects to “opt out” of the DRIP. As a result, if the Board of Directors declares a cash distribution, then the stockholders who have not “opted out” of the DRIP will have their cash distributions automatically reinvested in additional shares of common stock, rather than receiving the cash distribution. The shares distributed by the Transfer Agent in the Company’s DRIP are either through (i) newly issued shares or (ii) acquired by the Transfer Agent through the purchase of outstanding shares on the open market. If, on the payment date for any distribution, the most recently computed NAV per share as of the DRIP is equal to or less than the closing market price plus estimated per share fees, the Transfer Agent will invest the distribution amount in newly issued shares. Otherwise, the Transfer Agent will invest the dividend amount in shares acquired by purchasing shares on the open market. The following table summarizes the distributions declared on shares of the Company’s common stock and shares distributed pursuant to the DRIP to stockholders who had not opted out of the DRIP:
Date Declared |  | Record Date |  | Payment Date |  | Amount Per Share |  |  | Shares |  |
For the Six Months Ended June 30, 2026 |  |  |  |  |  |  |  |  |
February 25, 2026 (Supplemental) |  | March 9, 2026 |  | March 20, 2026 |  | $ | 0.03 |  |  |  | 15,967 |  | *
February 25, 2026 (Base) |  | March 31, 2026 |  | April 28, 2026 |  | $ | 0.32 |  |  |  | 156,728 |  | *
May 6, 2026 (Base) |  | June 30, 2026 |  | July 28, 2026 |  | $ | 0.32 |  |  |  | 150,971 |  | *
For the Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
February 26, 2025 (Base) |  | March 31, 2025 |  | April 28, 2025 |  | $ | 0.32 |  |  |  | 131,367 |  | *
February 26, 2025 (Special) |  | March 31, 2025 |  | April 28, 2025 |  | $ | 0.16 |  |  |  | 65,684 |  | *
May 7, 2025 (Supplemental) |  | May 30, 2025 |  | June 13, 2025 |  | $ | 0.05 |  |  |  | 20,996 |  | *
May 7, 2025 (Base) |  | June 30, 2025 |  | July 28, 2025 |  | $ | 0.32 |  |  |  | 102,019 |  | *
May 7, 2025 (Special) |  | June 30, 2025 |  | July 28, 2025 |  | $ | 0.16 |  |  |  | 51,010 |  | *
* In accor dance with the Company’s DRIP, shares were purchased in the open market. Common Stock Repurchase Plan 2025 Stock Repurchase Program On August 8, 2024, the Board of Directors approved and authorized a 10b5-1 stock repurchase program which allows the Company to repurchase up to $75,000 of shares of the Company’s common stock if the stock trades below the most recently announced quarter-end NAV per share, subject to certain limitations. On June 13, 2025, the Company entered into a 10b5-1 stock repurchase plan (the “2025 10b5-1 Plan”) with Georgeson Securities Corporation (“Georgeson”) for repurchases of the Company’s common stock during the period from June 16, 2025 through June 13, 2026. On and effective June 13, 2026, the 2025 10b5-1 Plan expired in accordance with its terms. Under the 2025 10b5-1 Plan, no purchases were permitted to be made if such purchases would have caused the Company’s Debt/Equity Ratio to exceed the lower of (a) 1.20 or (b) the Maximum Debt/Equity Ratio. In the 2025 10b5-1 Plan, “Debt/Equity Ratio” meant the sum of debt on the Consolidated Statements of Assets and Liabilities less cash and investments in affiliated money market funds divided by net assets, as of the most recent reported financial statement end date, and “Maximum Debt/Equity Ratio” meant the sum of debt on the Consolidated Statements of Assets and Liabilities and committed uncalled debt less cash and investments in affiliated money market funds divided by net assets, as of the most recent reported financial statement end date. Purchases under the 2025 10b5-1 Plan were required to be conducted on a programmatic basis in accordance with Rules 10b5-1 and 10b-18 under the Exchange Act and other applicable securities laws. For the three and six months ended June 30, 2026, the Company did not repurchase any of its shares under the 2025 10b5-1 plan. For the three and six months ended June 30, 2025, the shares of common stock repurchased under the 2025 10b5-1 Plan were as follows:
Period | Total Number of Shares Repurchased |  | Average Price Paid per Share (including commissions) |  | Approximate Dollar Value of Shares that have been Purchased Under the Plan |  | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan |
January |  | — |  | $ | — |  | $ | — |  | $ | — |
February |  | — |  |  | — |  |  | — |  |  | — |
March |  | — |  |  | — |  |  | — |  |  | — |
April |  | — |  |  | — |  |  | — |  |  | — |
May |  | — |  |  | — |  |  | — |  |  | — |
June |  | 1,047,183 |  | $ | 11.55 |  | $ | 12,095 |  |  | 62,905 |
Total |  | 1,047,183 |  |  |  | $ | 12,095 |  |  |
For the three months ended June 30, 2025, the weighted average discount of cost of repurchase to net asset of shares repurchased was 12.6%. 2026 Stock Repurchase Program On May 6, 2026, the Board of Directors approved and authorized a 10b5-1 stock repurchase program, which allows the Company to enter into a 10b5-1 stock repurchase plan (the “2026 10b5-1 Plan”) to repurchase up to $75,000 of shares of the Company’s common stock if the stock trades below the most recently announced quarter-end NAV per share, subject to certain limitations. During the three months ended June 30, 2026, the Company did not enter into the 2026 10b5-1 Plan and therefore did not repurchase any of its shares thereunder. Any repurchase by the Company of its common stock under any 10b5-1 plan or otherwise may result in the price of the Company’s common stock being higher than the price that otherwise might have existed in the open market.

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