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Financial Highlights | 3 Months Ended
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Mar. 31, 2026
Investment Company, Financial Highlights [Abstract] |
FINANCIAL HIGHLIGHTS | NOTE 14. FINANCIAL HIGHLIGHTS Financial highlights for the three months ended March 31, 2026 and 2025, respectively, are as follows:
|  | Three Months Ended March 31, 2026 |  | Three Months Ended March 31, 2025
Per Share Data |  |  |  |  |  |  |  |
Net asset value at beginning of period |  | $ | 1.69 |  |  | $ | 2.30 |
Net investment income(1) |  |  | 0.05 |  |  |  | 0.09 |
Net realized and unrealized losses(2) |  |  | (0.31 | ) |  |  | (0.20 | )
Net decrease in net asset value from operations |  |  | (0.26 | ) |  |  | (0.11 | )
Distributions per share from net investment income |  |  | (0.11 | ) |  |  | (0.11 | )
Tax return of capital distributions(3) |  |  | — |  |  |  | — |
Total distributions |  |  | (0.11 | ) |  |  | (0.11 | )
Effect of shares issued |  |  | 0.00 |  |  |  | 0.01 |
Net asset value at end of period |  | $ | 1.32 |  |  | $ | 2.09 |
Per share market value at beginning of period |  | $ | 1.76 |  |  | $ | 2.44 |
Per share market value at end of period |  | $ | 1.77 |  |  | $ | 2.61 |
Total return based on market value(4) |  |  | 6.87 | % |  |  | 11.39 | %
Total return based on net asset value(5) |  |  | (15.68 | )% |  |  | (4.57 | )%
Shares outstanding at end of period |  |  | 93,449,336 |  |  |  | 71,187,166 |
Ratios/Supplemental Data |  |  |  |  |  |  |  |
Net assets at end of period (000’s) |  | $ | 123,265 |  |  | $ | 148,882 |
Average net assets (000’s) |  | $ | 131,833 |  |  | $ | 153,493 |
Ratio of expenses to average net assets(6) |  |  | 14.54 | % |  |  | 10.57 | %
Ratio of expenses, excluding interest expense to average net assets(6) |  |  | 6.07 | % |  |  | 5.47 | %
Ratio of net investment income to average net assets(6) |  |  | 12.59 | % |  |  | 15.91 | %
Portfolio turnover rate(7) |  |  | 0.16 | % |  |  | 6.26 | %
(1) Represents per share net investment income for the period, based upon weighted average shares outstanding. (2) Net realized and unrealized losses include rounding adjustments to reconcile change in net asset value per share. (3) Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that fiscal year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the fiscal year. The amounts and sources of distributions reported are only estimates (based on an average of the reported tax character historically) and are not being provided for U.S. tax reporting purposes. (4) Total return based on market value equals the increase or decrease of ending market value over beginning market value, plus distributions, divided by the beginning market value, assuming distribution reinvestment prices obtained under the Company’s distribution reinvestment plan. Total return is not annualized. (5) Total return based on net asset value equals the increase or decrease of ending net asset value over beginning net asset value, plus distributions, divided by the beginning net asset value. Total return is not annualized. (6) Annualized. (7) Portfolio turnover rate is calculated using the lesser of the year-to-date investment sales and debt repayments or year-to-date investment purchases over the average of the total investments at fair value.

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