| Schedule of Basic and Diluted Earnings Per Share |
Shares used in the computation of the Company’s basic and diluted earnings per share are as follows:
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| (in thousands, except per share data) |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
| Numerator |
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| Net increase (decrease) in net assets resulting from operations |
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$ |
78,887 |
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$ |
41,852 |
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$ |
129,224 |
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$ |
132,816 |
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| Less: Total distributions declared |
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(83,083) |
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(77,894) |
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(164,467) |
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(153,925) |
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| Total Earnings (loss), net of total distributions |
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(4,196) |
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(36,042) |
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(35,243) |
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(21,109) |
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| Earnings (loss), net of distributions attributable to common shares |
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(4,196) |
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(36,042) |
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(35,244) |
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(21,110) |
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| Add: Distributions declared attributable to common shares |
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82,381 |
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77,157 |
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162,997 |
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152,387 |
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| Numerator for basic change in net assets per common share |
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78,185 |
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41,115 |
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127,753 |
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131,277 |
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| Add: Income impact of assumed conversion of 2028 Convertible Notes |
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4,076 |
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— |
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4,980 |
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— |
| Numerator for diluted change in net assets per common share |
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$ |
82,261 |
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$ |
41,115 |
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$ |
132,733 |
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$ |
131,277 |
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| Denominator |
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| Basic weighted average common shares outstanding |
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176,809 |
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160,748 |
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173,231 |
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159,096 |
| Incremental shares from assumed conversion of 2028 Convertible Notes |
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13,387 |
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— |
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8,329 |
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— |
| Common shares issuable |
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581 |
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561 |
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599 |
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518 |
| Weighted average common shares outstanding assuming dilution |
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190,777 |
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161,309 |
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182,159 |
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159,614 |
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| Change in net assets per common share: |
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| Basic |
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$ |
0.44 |
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$ |
0.26 |
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$ |
0.74 |
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$ |
0.83 |
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| Diluted |
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$ |
0.43 |
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$ |
0.25 |
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$ |
0.73 |
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$ |
0.82 |
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| Schedule of Number of Anti-diluted Shares as Calculated Based on Weighted Average Closing Price of Common Stock |
The calculation of change in net assets resulting from operations per common share assuming dilution, excludes all anti-dilutive shares. For the three and six months ended June 30, 2025 and 2024, the number of anti-dilutive shares, as calculated based on the weighted average closing price of the Company’s common stock for the periods, are as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
| Anti-dilutive Securities |
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2025 |
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2024 |
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2025 |
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2024 |
| Unvested common stock options |
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148 |
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798 |
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1,061 |
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1,401 |
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| Unvested restricted stock awards |
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3,260 |
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147 |
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1,642 |
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521 |
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