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LRFC Acquisition (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination [Abstract]

Summary of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the LRFC Acquisition immediately prior to consummation:


($ in thousands)		July 15, 2025
Common stock issued by the Company (net of offering costs of $404)(1)		$	49,596
Cash paid for fractional shares			0
Transaction costs			3,192
Total purchase consideration			52,788
Assets acquired:
Investments, at fair value (amortized cost of $153,392)			174,274
Cash and cash equivalents			7,085
Interest receivable			1,601
Other assets			1,644
Total assets acquired			184,604
Liabilities assumed:
Debt			103,181
Other liabilities			7,754
Total liabilities assumed			110,935
Net assets acquired			73,669
Total purchase discount		$	(20,881	)

(1) Based on the share price defined in the LRFC Merger Agreement of $12.55 and the approximate 3,984,078 shares of common stock issued by the Company in connection with the LRFC Acquisition, net of offering costs of $0.4 million.