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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
ASSETS      
Cash and cash equivalents $ 17,375 $ 31,840 $ 38,533
Securities, at fair value(1) [1] 754,241 683,915 773,548
Due from brokers 4,308 21,517 3,245
Financial derivatives–assets, at fair value 476 41,867 74,279
Reverse repurchase agreements 0 23,000 0
Receivable for securities sold 336 11,077 51,132
Interest and principal receivable 6,414 10,536 4,522
Other assets 407 340 431
Total Assets 783,557 824,092 945,690
LIABILITIES      
Repurchase agreements 517,538 562,974 729,543
Payable for securities purchased 27,439 1,997 12,139
Due to brokers 914 30,671 54,476
Financial derivatives–liabilities, at fair value 957 5,681 7,329
U.S. Treasury securities sold short, at fair value 0 22,578 0
Dividend payable 3,005 2,372 1,488
Accrued expenses and other liabilities 2,416 1,488 1,153
Management fee payable to affiliate 860 729 513
Interest payable 1,927 1,876 2,811
Total Liabilities 555,056 630,366 809,452
SHAREHOLDERS' EQUITY      
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0, 1,000, and 0 shares issued and outstanding, respectively) 0 1 0
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (37,559,195, 29,651,553, and 18,601,464 shares issued and outstanding, respectively) 376 297 186
Additional paid-in-capital 399,869 348,587 274,698
Accumulated deficit (171,744) (155,159) (138,646)
Total Shareholders' Equity 228,501 193,726 136,238
Total Liabilities and Shareholders' Equity $ 783,557 $ 824,092 $ 945,690
[1] Includes assets pledged as collateral to counterparties. See Note 6 for additional details on the Company's borrowings and related collateral.