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Financial Highlights | 9 Months Ended
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Mar. 31, 2024
Investment Company, Financial Highlights [Abstract] |
Financial Highlights | Note 12. Financial Highlights The following represents the per share data and the ratios to average net assets for the Company:
| For the nine months ended March 31,
| 2024 |  | 2023
Per Share Data:(1) |  |  |  |  |  |  |
Net asset value, beginning of period | $ | 6.09 |  |  | $ | 6.50 |
Net investment income |  | 0.37 |  |  |  | 0.50 |
Net realized and unrealized gains (losses) |  | (0.52) |  |  |  | (0.42) |
Net increase (decrease) in net assets resulting from operations |  | (0.15) |  |  |  | 0.08 |
Capital transactions(2) |  |  |  |  |  |  |
Dividends from net investment income |  | (0.45) |  |  |  | (0.45) |
Distributions from net realized gains |  | — |  |  |  | — |
Net decrease in net assets resulting from capital transactions |  | (0.45) |  |  |  | (0.45) |
Offering costs |  | — |  |  |  | — |
Net asset value, end of period | $ | 5.49 |  |  | $ | 6.13 |
Market value per share, end of period | $ | 3.11 |  |  | $ | 3.65 |
Total return based on market value(3)(4) |  | (2.06) | % |  |  | (2.65) | %
Shares outstanding at end of period |  | 14,397,121 |  |  |  | 14,391,775 |
Ratio/Supplemental Data: |  |  |  |  |  |  |
Net assets, at end of period | $ | 79,100,965 |  |  | $ | 88,226,547 |
Ratio of total expenses to average net assets(5) |  | 22.74 | % |  |  | 19.27 | %
Ratio of net expenses to average net assets(5) |  | 22.25 | % |  |  | 18.83 | %
Ratio of interest expense and fees and amortization of deferred debt issuance costs to average net assets(5) |  | 11.68 | % |  |  | 9.73 | %
Ratio of net investment income before fee waiver to average net assets(5) |  | 8.24 | % |  |  | 11.03 | %
Ratio of net investment income after fee waiver to average net assets(5) |  | 8.72 | % |  |  | 10.60 | %
Total Borrowings | $ | 122,500,000 |  |  | $ | 146,900,000 |
Asset Coverage Ratio(6) |  | 1.65 |  |  |  | 1.60 |
Portfolio Turnover Rate(4) |  | 21 | % |  |  | 16 | %
(1) All per share data activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date. (2) The per share data for dividends and distributions declared reflects the actual amount of the dividends and distributions declared per share during the period. (3) Total returns are historical and are calculated by determining the percentage change in the market value with all dividends distributions, if any, reinvested. Dividends and distributions are assumed to be reinvested at prices obtained under the company’s dividend reinvestment plan. Total investment return does not reflect sales load. (4) Portfolio turnover rate is calculated using the lesser of year-to-date sales or year-to-date purchases over the average of the invested assets at fair value. Portfolio turnover rates that cover less than a full period are not annualized. (5) Annualized. (6) Asset coverage ratio is equal to (i) the sum of (A) net assets at the end of the period and (B) debt outstanding at the end of the period, divided by (ii) total debt outstanding at the end of the period. Total return is calculated based on a time-weighted rate of return methodology for the stockholders and is not annualized. Total return is reflected after all investment-related and operating expenses. An individual stockholder’s return may vary from these returns based on the timing of capital transactions. The ratios to average stockholders’ capital are calculated based on the monthly average stockholders’ capital during the period. Credit facility related expenses include interest expense and amortization of deferred debt issuance costs.

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