SUBSEQUENT EVENTS |
3 Months Ended |
|---|---|
Mar. 31, 2023 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On May 1, 2023, the Company sold 255,754 shares of its common stock to Main Street at $7.82 per share, the
price at which the Company issued new shares in connection with reinvestments of the May 1, 2023 dividend pursuant
to the DRIP, for total proceeds to the Company of $2.0 million. The issuance and sale were made pursuant to the exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and was unanimously approved by the Board, including each director who is not an “interested person,” as such term is defined in
Section 2(a)(19) of the 1940 Act, of the Company or the Adviser.
On May 1, 2023, the Company repurchased 558,444 shares of its common stock validly tendered and not withdrawn on the terms set forth in the tender offer statement on Schedule TO and Offer to Purchase filed with the SEC on May 4, 2023. The shares were repurchased at a price of $7.67 per share, which was the Company’s NAV per share as of May 1, 2023, for an aggregate purchase price of $4.3 million (an amount equal to 90% of the proceeds the Company received from the issuance of shares under the Company’s DRIP from the May 1, 2023 dividend payment).
On May 11, 2023, the Board of Directors declared a quarterly cash dividend of $0.175 per share payable August 1, 2023 to stockholders of record as of June 30, 2023.
|