v3.26.1
Share Transactions
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Share Transactions

Note 11. Share Transactions

The following table summarizes the total shares issued and repurchased for the three months ended March 31, 2026 and 2025:

 

Three Months Ended March 31,

 

2026

 

2025

 

 

Shares

 

Amount

 

Shares

 

Amount

Balance at beginning of period

 

14,432,472

 

$205,930,804

 

14,406,244

 

$205,859,495

Issuance of common shares

 

—

 

—

 

—

 

—

Reinvestments of stockholder distributions

 

—

 

—

 

7,789

 

22,715

Share repurchases

 

—

 

—

 

—

 

—

Balance at end of period

 

14,432,472

 

$205,930,804

 

14,414,033

 

$205,882,210

 

 

On August 7, 2025, the Board authorized a new share repurchase program of up to $5 million (the "2025 Stock Repurchase Program") for a one-year period, effective August 7, 2025 and terminating on August 7, 2026. The 2025 Stock Repurchase Program may be suspended or discontinued at any time. Subject to these restrictions, the Company will selectively pursue opportunities to repurchase shares which are accretive to net asset value per share. During the twelve months ended December 31, 2025, the Company repurchased 13,627 shares at an average price per share of $2.84. As of December 31, 2025, all repurchased shares were retired. No shares were repurchased under the share repurchase program during the three months ended March 31, 2026.