Total Q4 2025 Investments: $3,250,000
New investment of $3.25 million
(Term loan at 13% and warrants for a 12% ownership interest)
Total Q3 2025 Investments: $2,900,000
New investment of $2.5 million
($2.25 million term loan at 14% plus 1% PIK interest and a $250,000 equity investment)
Funded follow-on debt investment of $400,000
Total debt & equity investment in FSS had a fair value of $4.3 million at quarter-end
Total Q2 2025 Investments: $35,000
Funded follow-on equity investment of $35,000
Total equity investment in Carolina Skiff had a fair value of $800,000
Total Q1 2025 Investments: $375,000
Funded follow-on debt investment of $375 thousand
Total debt and equity investments at a fair value of $2.0 million