The company announced it has commenced a continuous public offering of up to 4,000,000 shares of its 6.00% Series AA Convertible Perpetual Preferred Stock and 6.00% Series AB Convertible Perpetual Preferred Stock (collectively, the “Preferred Stock”) at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $91 million after payment of estimated commissions and offering expenses if all shares of the Preferred Stock are sold. The Preferred Stock has a 6.00% annual dividend rate, paid monthly, and is rated ‘BBB’ by Egan-Jones Ratings Company, an independent rating agency. The Preferred Stock is perpetual and convertible by the holder into shares of the Company’s common stock or cash (as determined by the Company at its sole discretion), subject to certain conditions.
As of 2026-03-13, the Fund’s leverage was 31.7% and Collateralized Loan Obligation Group leverage was 33.1%.
