XML 45 R35.htm IDEA: XBRL DOCUMENT
v3.25.1

Financial Highlights (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2025
Investment Company, Financial Highlights [Abstract] |
Schedule of Financial Highlights | The following is a schedule of financial highlights for the six months ended March 31, 2025 and 2024:
|  | For the Six Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Per share data |  |  |  |  |  |
Net Asset Value per share at Beginning of Period |  | $ | 79.37 |  |  | $ | 70.75 |
Results of Operations: |  |  |  |  |  |  |  |
Net Investment Income/(Loss) |  |  | 1.28 |  |  |  | 1.11 |
Net Realized Gain/(Loss) on Investments |  |  | 0.05 |  |  |  | (0.76 | )
Net Unrealized Gain/(Loss) on Investments |  |  | (0.39 | ) |  |  | 4.46 |
Net loss on extinguishment of debt |  |  | - |  |  |  | - |
Deferred tax benefit (expense) |  |  | (0.16 | ) |  |  |  |
Net Increase (Decrease) in Net Assets Resulting from Operations |  |  | 0.78 |  |  |  | 4.81 |
Capital Share Transactions |  |  |  |  |  |  |  |
Distributions declared |  |  | (1.43 | ) |  |  | - |
Repurchase of common stock under stock repurchase program |  |  | - |  |  |  | 0.79 |
Net Increase (Decrease) Resulting from Capital Share Transactions |  |  | (1.43 | ) |  |  | 0.79 |
Net Asset Value per share at End of Period |  | $ | 78.72 |  |  | $ | 76.35 |
Net Assets at End of Period |  | $ | 158,987,514 |  |  | $ | 154,271,897 |
Shares Outstanding at End of Period |  |  | 2,019,778 |  |  |  | 2,020,490 |
Per share market value at end of period |  | $ | 54.00 |  |  | $ | 44.10 |
Total return based on market value(1) |  |  | 16.45 | % |  |  | 16.36 | %
Total return based on net asset value(2) |  |  | 0.98 | % |  |  | 5.16 | %
Portfolio turnover rate |  |  | 29.19 | % |  |  | 13.83 | %
Ratios: |  |  |  |  |  |
Ratio of net investment/(loss) income to average net assets after waivers, discounts and reimbursements(3) |  |  | 3.27 | % |  |  | 3.08 | %
Ratio of total expenses to average net assets(3) |  |  | 12.16 | % |  |  | 10.95 | %
Supplemental Data: |  |  |  |  |  |  |  |
Percentage of non-recurring fee income(4) |  |  | 0.33 | % |  |  | 0.76 | %
Average debt outstanding(5) |  | $ | 139,253,604 |  |  | $ | 85,941,941 |
Average debt outstanding per weighted average common share |  | $ | 68.95 |  |  | $ | 41.70 |
Asset coverage ratio per unit(6) |  | $ | 2,146 |  |  | $ | 2,795 |
Senior Securities Outstanding(7) |  |  |  |  |  |  |  |
2028 Notes |  | $ | 57,500,000 |  |  | $ | 57,500,000 |
2028 Promissory Note |  | $ | 1,661,498 |  |  | $ | - |
Credit Facility |  | $ | 79,600,000 |  |  | $ | 28,441,941 |
Average market value per unit: |  |  |  |  |  |  |  |
2028 Notes |  | $ | 22.57 |  |  | $ | 22.53 |
| (1) | Total return is historical and assumes changes in share price, reinvestments of all dividends and distributions at prices obtained under the Company’s dividend reinvestment plan, and no sales charge for the period. Calculation is not annualized.
| (2) | Total return is historical and assumes changes in NAV, reinvestments of all dividends at prices obtained under the Company's dividend reinvestment plan, and no sales charges for the period. Calculation is not annualized.
| (3) | Ratios are annualized during interim periods.
| (4) | Represents the impact of the non-recurring fees as a percentage of total investment income.
| (5) | Based on daily weighted average carrying value of debt outstanding during the period.
| (6) | Asset coverage per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness.
As of March 31, 2025, the Company’s asset coverage was 214.6% after giving effect to leverage and therefore the Company’s asset coverage was above 200%, the minimum asset coverage requirement under the 1940 Act.
| (7) | Total amount of each class of senior securities outstanding at the end of the period excluding debt issuance costs.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentCompanyFinancialHighlightsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial highlights. Includes, but is not limited to, per share information, income and expense ratios, total return, capital commitment and fee waiver. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 205 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478494/946-205-50-1 + Details
Name: | us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration