5 unchanged sentences
The following table summarizes the aggregate principal balance of variable rate investments and indebtedness as of:
−Removed: September 30, 2025
+Added: March 31, 2026
Variable rate investments $ 146,766,099
Variable rate debt $ 31,250,000
−Removed: The following table summarizes estimated changes in net investment income on our variable rate investments and indebtedness as of September 30, 2025 assuming hypothetical increases or decreases in Term SOFR or SOFR:
+Added: The following table summarizes estimated changes in net investment income on our variable rate investments and indebtedness as of March 31, 2026 assuming hypothetical increases or decreases in Term SOFR or SOFR:
1.00% Decrease 1.00% Increase
2 unchanged sentences
Net increase (decrease) in investment income from variable rate instruments $ (1,282,824) $ 1,288,189
+Added: _______________
+Added: (1) A 1.00% decrease in Term SOFR or SOFR had no impact on interest expense because the interest rate on the debt is subject to a floor.
We may hedge against interest rate fluctuations by using standard hedging instruments, such as futures, options and forward contracts.
While hedging activities may insulate us against adverse changes in interest rates, they may also limit our ability to participate in benefits of lower interest rates with respect to our portfolio of investments with fixed interest rates.
−Removed: For the nine months ended September 30, 2025 and 2024, we did not engage in interest rate hedging activities that qualify for hedge accounting.
+Added: For the three months ended March 31, 2026 and 2025, we did not engage in interest rate hedging activities that qualify for hedge accounting.
Prepayment Risks
22 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.