{"id":871962,"date":"2025-08-06T18:33:58","date_gmt":"2025-08-06T22:33:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/stellus-capital-investment-corporation-reports-results-for-its-second-fiscal-quarter-ended-june-30-2025\/"},"modified":"2025-08-06T18:33:58","modified_gmt":"2025-08-06T22:33:58","slug":"stellus-capital-investment-corporation-reports-results-for-its-second-fiscal-quarter-ended-june-30-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/stellus-capital-investment-corporation-reports-results-for-its-second-fiscal-quarter-ended-june-30-2025\/","title":{"rendered":"Stellus Capital Investment Corporation Reports Results for its Second Fiscal Quarter Ended June 30, 2025"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n HOUSTON<\/span>
\n <\/span>, Aug. 6, 2025<\/span><\/span> \/PRNewswire\/ —\u00a0Stellus Capital Investment Corporation (NYSE:SCM) (“Stellus”, “we”, or the “Company”) today announced financial results for its fiscal quarter ended June 30, 2025<\/span>.<\/p>\n

\n

\n
\n \"\"
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n Robert T. Ladd<\/span>, Chief Executive Officer of Stellus, stated, “I am pleased to report solid operating results for the quarter ended June 30, 2025<\/span>, in which we earned U.S. GAAP net investment income of $0.34<\/span> per share and core net investment income of $0.35<\/span> per share. During the quarter, we funded $23 million<\/span> of investments and received $32 million<\/span> of repayments, resulting in a total portfolio of $986 million<\/span> at fair value. We raised an additional $4 million<\/span> of equity during the quarter under the at-the-market equity program. I’m also pleased to report that our investors have received a total of $306 million<\/span> in distributions, equivalent to $17.35<\/span> per share, since we began operations.”<\/p>\n

\n
\n FINANCIAL HIGHLIGHTS
<\/u>
\n <\/b>($ in millions, except data relating to per share amounts and shares outstanding)<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Amount<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Amount<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Amount<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Amount<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n

\n $9.56<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $11.79<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.48<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $19.35<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.69<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $22.03<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.90<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Core net investment income(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 9.99<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.35<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12.37<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.50<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20.28<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.72<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22.97<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.94<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized (loss) gain on investments<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.86)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.03)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.99<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.07<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6.83)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.24)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (18.39)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.75)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translation<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.02)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.03)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.05)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.05)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total realized income(2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $8.68<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.31<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $13.75<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.55<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $12.47<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.45<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $3.59<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.15<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions<\/span>\n <\/p>\n<\/td>\n

\n

\n (11.36)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.40)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (10.05)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.41)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (22.45)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.80)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (19.70)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.81)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net unrealized change in appreciation (depreciation) on investments<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.44<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.05<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5.58)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.22)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.63<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.09<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 17.92<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.73<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net unrealized change in appreciation (depreciation) on foreign currency translation<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.03<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.01)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.04<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.01)<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Benefit for taxes on unrealized depreciation on investments in taxable subsidiaries<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.38<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.02<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.19<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.01<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net increase in net assets resulting from operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $10.15<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.36<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $8.54<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.35<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $15.14<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.54<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $21.69<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.89<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Weighted average shares outstanding<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,412,849<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,733,966<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 28,009,969<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,429,804<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n Core net investment income, as presented, excludes the impact of capital gains incentive fees (reversal) and income taxes, the majority of which are excise taxes. The Company believes presenting core net investment income and the related per share amount is a useful supplemental disclosure for analyzing its financial performance. However, core net investment income is a\u00a0non-U.S. GAAP measure and should not be considered as a replacement for net investment income and other earnings measures presented in accordance with U.S. GAAP. A reconciliation of net investment income in accordance with U.S. GAAP to core net investment income is presented in the table below the financial statements.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n Total realized income is the sum of net investment income, net realized gains (losses) on investments, net realized gains (losses) on foreign currency, and losses on debt extinguishment, all U.S. GAAP measures.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n
\n PORTFOLIO ACTIVITY
<\/u>
\n <\/b>($ in millions, except data relating to per share amounts, shares outstanding, and number of portfolio companies)<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n As of<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n As of<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n December\u00a031,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Investments at fair value<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $985.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $953.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Total assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $1,034.8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $980.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $375.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $369.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Shares outstanding<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,416,148<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,481,118<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net asset value per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $13.21<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $13.46<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $22.8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $66.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $78.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $94.9<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Repayments of investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (31.6)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (40.7)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (46.6)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (71.8)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net activity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n ($8.8)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $25.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $31.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $23.1<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n As of<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n As of<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n December\u00a031,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Number of portfolio company investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 112<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 105<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Number of debt investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 98<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 92<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Weighted average yield of debt and other income producing investments (3)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9.5\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Payment-in-kind (“PIK”)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.5\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Fee amortization<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Total<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10.2\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Weighted average yield of total investments(4)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8.7\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8.9\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n PIK<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.5\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Fee amortization<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Total<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9.6\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9.7\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n The dollar-weighted average annualized effective yield is computed using the effective interest rate for our debt investments and other income producing investments, including cash and PIK interest, as well as the accretion of deferred fees. The individual investment yields are then weighted by the respective cost of the investments (as of the date presented) in calculating the weighted average effective yield of the portfolio. The dollar-weighted average annualized yield on the Company’s investments for a given period will generally be higher than what investors in the Company’s common stock would realize in a return over the same period because the dollar-weighted average annualized yield does not reflect the Company’s expenses or any sales load that may be paid by investors.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (4)<\/span>\n <\/p>\n<\/td>\n

\n

\n The dollar-weighted average yield on total investments takes the same yields as calculated in the footnote above but weights them to determine the weighted average effective yield as a percentage of the Company’s total investments, including non-income producing equity positions and debt investments on non-accrual status.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Results of Operations<\/i>\n <\/p>\n

Investment income for the three months ended June\u00a030,\u00a02025 and 2024 totaled $25.7 million<\/span> and $26.6 million<\/span>, respectively, most of which was interest income from portfolio investments.<\/p>\n

Gross operating expenses for the three months ended June\u00a030,\u00a02025 and 2024 totaled $17.1 million<\/span> and $16.5 million<\/span>, respectively. For the same respective periods, base management fees totaled $4.3 million<\/span> and $3.9 million<\/span>, income incentive fees totaled $2.2 million<\/span> and $2.6 million<\/span>, fees and expenses related to our borrowings totaled $8.7 million<\/span> and $8.1 million<\/span> (including interest and amortization of deferred financing costs), administrative expenses totaled $0.5 million<\/span> and $0.5 million<\/span>, income tax totaled $0.4 million<\/span> and $0.6 million<\/span> and other expenses totaled $1.0 million<\/span> and $0.8 million<\/span>. The Company waived $1.0 million<\/span> and $1.7 million<\/span> of income incentive fees due to the total return limitation contained in the Investment Advisory Agreement between the Company and the Advisor (as defined below) for the three months ended June 30, 2025<\/span> and 2024, respectively, for net operating expenses of $16.1 million<\/span> and $14.8 million<\/span>, respectively.<\/p>\n

Net investment income was $9.6 million<\/span> and $11.8 million<\/span>, or $0.34<\/span> and $0.48<\/span> per common share based on \u00a028,412,849 and 24,733,966 weighted average common shares outstanding for the three months ended June\u00a030,\u00a02025 and 2024, respectively. Core net investment income, which is a non-U.S. GAAP measure that excludes capital gains incentive fees (reversals) and income tax expense accruals, for the three months ended June\u00a030,\u00a02025 and 2024 was $10.0 million<\/span> and $12.4 million<\/span>, or $0.35<\/span> and $0.50<\/span> per share, respectively.<\/p>\n

For the three months ended June\u00a030,\u00a02025 and 2024, the Company’s investment portfolio had a net change in unrealized appreciation (depreciation) of $1.4 million<\/span> and ($5.6) million<\/span>, respectively, and the Company had net realized (losses) gains of ($0.9) million<\/span> and $2.0 million<\/span>, respectively.<\/p>\n

Net increase in net assets resulting from operations totaled $10.1 million<\/span> and $8.5 million<\/span>, or $0.36<\/span> and $0.35<\/span> per common share, based on 28,412,849 and 24,733,966 weighted average common shares outstanding for the three months ended June\u00a030,\u00a02025 and 2024, respectively.<\/p>\n

\n Liquidity and Capital Resources<\/i>\n <\/p>\n

As of June 30, 2025<\/span>, the Company’s amended senior secured revolving credit agreement with certain bank lenders and Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent (as amended from time to time, the “Credit Facility”) provided for borrowings in an aggregate amount of up to $315.0 million<\/span> on a committed basis. As of June 30, 2025<\/span> and December 31, 2024<\/span>, the Credit Facility had an accordion feature which allowed for potential future expansion of the facility size up to $350.0 million<\/span>.<\/p>\n

As of June 30, 2025<\/span> and December 31, 2024<\/span>, the Company had $163.1 million<\/span> and $175.4 million<\/span> in outstanding borrowings under the Credit Facility, respectively.<\/p>\n

The Company issued 278,945 shares during the three months ended June\u00a030,\u00a02025 under the at-the-market program (“ATM Program”) for gross proceeds of $3.9 million<\/span>. The average per share offering price of shares issued under the ATM Program during the three months ended June\u00a030,\u00a02025 was $13.97<\/span>. Stellus Capital Management, LLC, the Company’s investment adviser (the “Advisor”), has agreed to reimburse the Company for underwriting fees to the extent the per share price of the shares to the public, less underwriting fees, was less than net asset value per share.<\/p>\n

\n Distributions<\/i>\n <\/p>\n

For both the three months ended June\u00a030,\u00a02025 and 2024, the Company declared aggregate distributions of $0.40<\/span> per share for both periods ($11.4 million<\/span> and $10.0 million<\/span> in the aggregate, respectively). Tax characteristics of all distributions will be reported to stockholders on Form 1099-DIV after the end of the calendar year. None of these dividends are expected to include a return of capital.<\/p>\n

\n Recent Portfolio Activity<\/i>\n <\/p>\n

The Company invested in the following portfolio companies during the three months ended June\u00a030,\u00a02025:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Activity Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Name<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Description<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Investment Amount<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n \u00a0Instrument Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n April 8, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n TriplePoint Acquisition Holdings LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of HVAC, plumbing, and other mechanical and industrial services<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,773,809<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n April 25, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Elliott Aviation, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of maintenance, repair, and overhaul and fixed-base operator services to the business aviation sector<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 57,899<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 105<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n April 30, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Gourmet Specialty Foods, LLC<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of ready-to-cook value-added proteins to grocery retailers <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,270,705<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,847,136<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Delayed Draw Term Loan Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 100,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Revolver Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 240,595<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n May 5, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n FairWave Holdings, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Specialty coffee platform<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 19,336<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n May 8, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Unicat Catalyst Holdings, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Manufacturer and distributor of catalysts and other industrial products<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 13,961<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n May 21, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n The Hardenbergh Group, Inc. *<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of temporary professional staffing of medical services professionals, external peer review, consulting and physician leadership solutions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 243,044<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n May 30, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n WER Holdings, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Regional provider of commercial landscaping services<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 426,885<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,366,945<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Delayed Draw Term Loan Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n June 3, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n International Cybernetics Company, LP<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of road condition assessment services and equipment’<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,748,003<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,561,003<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Delayed Draw Term Loan Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 100,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Revolver Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 105,113<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n June 4, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Eskola LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of commercial re-roofing services<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 56,349<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n June 6, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Solid Surface Care Holdings, Inc.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n National commercial surface care and restoration company<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,694,273<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,270,705<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Delayed Draw Term Loan Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 100,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Revolver Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 377,437<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n June 27, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Monitorus Holding, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of media monitoring and evaluation services<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,722,767<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n
\n

\n ________________________________<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n *Existing portfolio company<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

The Company realized investments in the following portfolio companies during the three months ended June\u00a030,\u00a02025:<\/p>\n

\n\n\n\n\n\n\n\n\n
\n

\n
\n Activity Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Name<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Description<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Proceeds Received<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Realized Gain (Loss)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n \u00a0Instrument Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Full Repayment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n April 8, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Florachem Corporation<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Distiller and supplier of natural citrus, pine, and specialty inputs<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 9,725,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 53,078<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Delayed Draw Term Loan Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 100,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Revolver Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Full Realization<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 514,107<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 151,674<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Restructured Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n April 9, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n J.R. Watkins, LLC<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Manufacturer and distributor of home and personal care products<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,132,576)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Full Repayment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n May 29, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Anne Lewis Strategies, LLC<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of tech-enabled donor targeting and strategic digital fundraising services for non-profit and political organizations.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,801,341<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n
\n

\n ________________________________<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n *Existing portfolio company<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Events Subsequent to June 30, 2025<\/span><\/i>\n <\/p>\n

The Company’s management has evaluated subsequent events through August 6, 2025<\/span>. There have been no subsequent events that require recognition or disclosure except for the following described below.<\/p>\n

\n Investment Portfolio<\/i>\n <\/p>\n

The Company invested in the following portfolio companies subsequent to June 30, 2025<\/span>:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Activity Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Name<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Description<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Investment Amount<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n \u00a0Instrument Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n July 1, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Bart & Associates, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of content, information, tech-enabled services, and hosts competitions for the U.S. equine industry<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 303,740<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n July 28, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equine Network, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Hosts competitions and provides services for the U.S. equine industry<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,067,538<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n July 31, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n The Millennium Alliance, LLC <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Facilitator of peer-to-peer events connecting companies with technology solution providers<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,500,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 100,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Revolver Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 515,556<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n July 31, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Project EC**<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of homecare services<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 7,785,007<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,500,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Delayed Draw Term Loan Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 100,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Revolver Commitment<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 910,966<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Equity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Add-On Investment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n May 5, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n MedLearning Group, LLC*<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Provider of continuing medical education services<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,981,213<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n\n
\n

\n ________________________________<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n *Existing portfolio company<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n ** The name of this portfolio company is not disclosed at this time due to confidentiality restrictions. The name of this portfolio company will be disclosed in the Company’s quarterly report for the quarter ending September 30, 2025.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

The Company realized investments in the following portfolio companies subsequent to June 30, 2025<\/span>:<\/p>\n

\n\n\n\n
\n

\n
\n Activity Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Name<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Company Description<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Proceeds Received<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n \u00a0Instrument Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Full Repayment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n July 31, 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Rogers Mechanical Contractors, LLC<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n HVAC and plumbing designer, installer, and service provider for new\/existing data centers, fulfilment sortation facilities, and warehouses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 8,272,652<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Senior Secured\u2009\u2013\u2009First Lien<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Credit Facility <\/i>\n <\/p>\n

The outstanding balance under the Credit Facility as of August 6, 2025<\/span> was $162.2 million<\/span>.<\/p>\n

\n Distributions Declared<\/i>\n <\/p>\n

On July 2, 2025<\/span>, the Board of Directors of the Company declared a regular monthly dividend for each of July 2025<\/span>, August 2025<\/span>, and September 2025<\/span> as follows:<\/p>\n

\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Ex-Dividend<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Record<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Payment<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Amount\u00a0per<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Declared<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Date<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 7\/2\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7\/31\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7\/31\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8\/15\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.1333<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 7\/2\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8\/29\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8\/29\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9\/15\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.1333<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 7\/2\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9\/30\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9\/30\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10\/15\/2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.1333<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n
\n Conference Call Information<\/i>
\n <\/b>\n <\/p>\n

Stellus Capital Investment Corporation will host a conference call to discuss these results on Thursday, August 7, 2025<\/span> at 10:00 AM, Central Time<\/span>. The conference call will be led by Robert T. Ladd<\/span>, Chief Executive Officer, and W. Todd Huskinson<\/span>, Chief Financial Officer, Chief Compliance Officer, Treasurer, and Secretary.<\/p>\n

For those wishing to participate by telephone, please dial (888) 506-0062. Use passcode 398771. Starting approximately two hours after the conclusion of the call, a replay will be available through Thursday, August 21, 2025<\/span> by dialing (877) 481-4010 and entering passcode 52804. The replay will also be available on the Company’s website.<\/p>\n

For those wishing to participate via Live Webcast, connect via the Public (SCIC) section of our website at www.stelluscapital.com<\/a>, under the Events tab. A replay of the conference will be available on our website for approximately 90 days.<\/p>\n

\n About Stellus Capital Investment Corporation<\/i>\n <\/p>\n

The Company is an externally managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private lower middle-market companies (typically those with $5.0 million<\/span> to $50.0 million<\/span> of EBITDA (earnings before interest, taxes, depreciation and amortization)) with a focus on investing through first lien (including unitranche) loans, often with a corresponding equity investment. The Company’s investment activities are managed by its investment adviser, Stellus Capital Management. To learn more about Stellus Capital Investment Corporation, visit www.stelluscapital.com<\/a> under the “Public (SCIC)” tab.<\/p>\n

\n Forward-Looking Statements<\/i>\n <\/p>\n

\n Statements included herein may contain “forward-looking statements” which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.<\/i>\n <\/p>\n

\n Contacts<\/i>\n <\/p>\n

Stellus Capital Investment Corporation
W. Todd Huskinson<\/span>, Chief Financial Officer
(713) 292-5414
thuskinson@stelluscapital.com<\/a><\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n STELLUS CAPITAL INVESTMENT CORPORATION<\/b>
\n <\/span>\n <\/p>\n

\n
\n CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n December\u00a031,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ASSETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Controlled investments at fair value (amortized cost of $32,732,016 and $17,934,808, respectively)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 13,046,041<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 7,652,436<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-controlled, non-affiliated investments, at fair value (amortized cost of $957,687,672 and $943,853,898, respectively)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 972,839,633<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 945,845,252<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 39,991,690<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 20,058,594<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Receivable for sales and repayments of investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 399,106<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 335,689<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,869,109<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4,947,765<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income tax receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,045,697<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,301,965<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other receivables<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 17,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 87,995<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Related party receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,687<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred offering costs<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 109,059<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Prepaid expenses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 447,891<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 666,866<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,034,765,726<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 980,900,249<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n LIABILITIES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Notes Payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 172,310,201<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 99,444,355<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Credit Facility payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 160,622,440<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 172,314,315<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n SBA-guaranteed debentures<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 305,373,199<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 321,251,939<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Dividends payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,787,873<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,663,233<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Management fees payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4,279,441<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4,034,109<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income incentive fees payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,052,194<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,109,560<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 6,529,422<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,281,343<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Related party payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,088,287<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Unearned revenue<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 676,290<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 548,626<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Administrative services payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 415,810<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 393,513<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other accrued expenses and liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,259,679<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 937,316<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Liabilities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 659,394,836<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 610,978,309<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Commitments and contingencies (Note 7)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Net Assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 375,370,890<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 369,921,940<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n NET ASSETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Common stock, par value $0.001 per share (100,000,000 shares authorized; 28,416,148 and 27,481,118 shares issued and outstanding, respectively)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 28,416<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 27,481<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Paid-in capital<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 392,309,339<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 379,549,272<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total distributable loss<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (16,966,865)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (9,654,813)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 375,370,890<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 369,921,940<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Liabilities and Net Assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,034,765,726<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 980,900,249<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Asset Value Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.21<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.46<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n STELLUS CAPITAL INVESTMENT CORPORATION<\/b>
\n <\/span>\n <\/p>\n

\n
\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/b>
\n (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n For the three months ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n For the six months ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n INVESTMENT INCOME<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n From controlled investments:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Interest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 81,636<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n From non-controlled, non-affiliated investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Interest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,654,205<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 25,164,944<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 48,781,321<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 50,121,795<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,042,397<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,461,255<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,866,939<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,419,517<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Investment Income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 25,696,602<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 26,626,199<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 50,648,260<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 52,622,948<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n OPERATING EXPENSES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Management fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,279,441<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,852,233<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 8,334,167<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 7,704,466<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Valuation fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 38,507<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 35,711<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 196,396<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 192,218<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Administrative services expenses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 474,284<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 481,261<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 923,582<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 972,162<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income incentive fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,158,075<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,542,530<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4,294,566<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,051,640<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Professional fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 312,808<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 196,205<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 730,839<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 535,832<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Directors’ fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 93,250<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 114,250<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 204,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 222,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Insurance expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 98,668<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 125,489<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 195,758<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 250,478<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest expense and other fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,680,015<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,116,497<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 16,943,034<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 15,884,070<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income tax expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 428,951<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 574,037<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 928,498<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 944,756<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other general and administrative expenses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 500,302<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 417,867<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 718,653<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 663,142<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Operating Expenses<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 17,064,301<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 16,456,080<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 33,469,993<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 32,421,264<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income incentive fee waiver<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (928,926)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,622,542)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (2,171,769)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,826,893)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total Operating Expenses, net of fee waivers<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 16,135,375<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,833,538<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 31,298,224<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 30,594,371<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Investment Income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 9,561,227<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,792,661<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 19,350,036<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 22,028,577<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on controlled investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,132,576)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,132,576)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized gain (loss) on non-controlled, non-affiliated investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 272,549<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,992,482<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,694,672)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (18,392,249)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (20,003)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (29,789)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (49,658)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (54,895)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation on controlled investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,290,491<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 138,189<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,345,767<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 674,759<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation (depreciation) on non-controlled, non-affiliated investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 143,176<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,724,870)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,281,193<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 17,257,150<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation (depreciation) on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 30,546<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,887)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 38,865<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (9,489)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Benefit for taxes on net unrealized depreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 381,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 188,893<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Increase in Net Assets Resulting from Operations<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 10,145,410<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 8,544,286<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 15,138,955<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 21,692,746<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Investment Income Per Share\u2014basic and diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.48<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.69<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.90<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Increase in Net Assets Resulting from Operations Per Share\u2009\u2013\u2009basic and diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.36<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.35<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.54<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.89<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Weighted Average Shares of Common Stock Outstanding\u2014basic and diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 28,412,849<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,733,966<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 28,009,969<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,429,804<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Distributions Per Share\u2014basic and diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.40<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.41<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.80<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.81<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n STELLUS CAPITAL INVESTMENT CORPORATION<\/b>
\n <\/span>\n <\/p>\n

\n
\n CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Common\u00a0Stock<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Total<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Number<\/b>\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Par<\/b>\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Paid-in<\/b>\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n distributable<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n of\u00a0shares<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n value<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n capital<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (loss) <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Net\u00a0Assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Balances at December\u00a031,\u00a02023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,125,642<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 24,125<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 335,918,984<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (16,003,321)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 319,939,788<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 10,235,916<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 10,235,916<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (20,384,731)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (20,384,731)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (25,106)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (25,106)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 23,518,590<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 23,518,590<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized depreciation on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (3,602)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (3,602)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for taxes on unrealized appreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (192,607)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (192,607)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions from net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (9,647,844)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (9,647,844)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Balances at March 31,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,125,642<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 24,125<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 335,918,984<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (12,502,705)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 323,440,404<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 11,792,661<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 11,792,661<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized gain on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,992,482<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,992,482<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (29,789)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (29,789)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized depreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,586,681)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,586,681)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized depreciation on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,887)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,887)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Benefit for taxes on unrealized depreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 381,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 381,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions from net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (10,049,073)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (10,049,073)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Issuance of common stock, net of offering costs(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,855,356<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,856<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 25,248,020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 25,249,876<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Balances at June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,980,998<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 25,981<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 361,167,004<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (14,007,492)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 347,185,493<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Balances at December\u00a031,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,481,118<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 27,481<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 379,549,272<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (9,654,813)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 369,921,940<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 9,788,809<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 9,788,809<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,967,221)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (5,967,221)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (29,655)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (29,655)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,193,293<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,193,293<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized depreciation on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,319<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,319<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions from net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (11,087,389)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (11,087,389)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Issuance of common stock, net of offering costs(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 656,085<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 656<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,937,430<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,938,086<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Balances at March 31,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,137,203<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 28,137<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 388,486,702<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (15,748,657)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 372,766,182<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 9,561,227<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 9,561,227<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (860,027)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (860,027)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (20,003)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (20,003)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,433,667<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,433,667<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 30,546<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 30,546<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions from net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (11,363,618)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (11,363,618)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Issuance of common stock, net of offering costs(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 278,945<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 279<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,822,637<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,822,916<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Balances at June 30,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,416,148<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 28,416<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 392,309,339<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (16,966,865)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 375,370,890<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n STELLUS CAPITAL INVESTMENT CORPORATION<\/b>
\n <\/span>\n <\/p>\n

\n
\n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b>
\n (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n For the six months ended <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash Flows from Operating Activities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net increase in net assets resulting from operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 15,138,955<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 21,692,746<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Purchases of investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (78,230,159)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (94,854,139)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Proceeds from sales and repayments of investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 46,638,287<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 71,824,905<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized appreciation on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (2,626,960)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (17,931,909)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in unrealized (appreciation) depreciation on foreign currency translations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (38,865)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 9,490<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in investments due to PIK<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (2,492,551)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,555,868)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Amortization of premium and accretion of discount, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,437,223)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,383,624)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred tax benefit<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (188,893)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Amortization of loan structure fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 634,745<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 544,379<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Amortization of deferred financing costs<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 303,468<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 222,747<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Amortization of discount on Notes Payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 31,434<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Amortization of loan fees on SBA-guaranteed debentures<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 371,260<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 550,059<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 6,827,248<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 18,392,249<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Changes in other assets and liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Increase in interest receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (921,344)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (2,780,809)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in income tax receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (743,732)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (585,741)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Decrease (increase) in other receivables<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 70,495<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (92,671)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Decrease in related party receivables<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,687<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Decrease in prepaid expenses <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 218,975<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 193,937<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase (decrease) in management fees payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 245,332<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (2,066,303)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Decrease in income incentive fees payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,057,366)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,450,096)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in administrative services payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 22,297<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,023<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in interest payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,248,079<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 7,256<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in related party payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,088,287<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 337,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in unearned revenue<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 127,664<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 174,518<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in other accrued expenses and liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,322,363<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 268,894<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Cash Used in Operating Activities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (13,255,624)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n (8,647,350)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash Flows from Financing Activities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Proceeds from the issuance of common stock<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 13,153,366<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 25,777,185<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Sales load for common stock issued<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (197,464)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (386,987)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Offering costs paid for common stock issued<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (303,959)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (133,010)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Stockholder distributions paid<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (22,326,367)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (16,233,650)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Proceeds from issuance of Notes Payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 75,000,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Discount from issuance of Notes Payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (770,250)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Financing costs paid on Notes Payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (1,698,806)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Repayments of SBA-guaranteed debentures<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (16,250,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Financing costs paid on Credit Facility<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n \u2014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (66,348)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Borrowings under Credit Facility<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 104,400,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 104,400,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Repayments of Credit Facility<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (117,817,800)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (94,967,800)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Cash Provided by Financing Activities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 33,188,720<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 18,389,390<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Increase in Cash and Cash Equivalents<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 19,933,096<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 9,742,040<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash and Cash Equivalents Balance at Beginning of Period<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 20,058,594<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 26,125,741<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash and Cash Equivalents Balance at End of Period<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 39,991,690<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 35,867,781<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Supplemental and Non-Cash Activities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash paid for interest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,354,048<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,559,629<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income and excise tax paid<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,672,230<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,530,497<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase in distributions payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 124,640<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,463,267<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Increase (decrease) in deferred offering costs<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 109,059<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n (7,312)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Exchange of investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,663,301<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,256,411<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Reconciliation of Core Net Investment Income<\/b>
\n
\n
\n (1)<\/sup>
\n <\/span>
\n <\/b>
\n <\/span>\n <\/p>\n

\n (Unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $9,561,227<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $11,792,661<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $19,350,036<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $22,028,577<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income tax expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 428,951<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 574,037<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 928,498<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 944,756<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Core net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $9,990,178<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $12,366,698<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $20,278,534<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $22,973,333<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Per share amounts:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net investment income per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.48<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.69<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.90<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Core net investment income per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.35<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.50<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.72<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.94<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Reconciliation of Realized Net Investment Income<\/b>
\n
\n
\n (2)<\/sup>
\n <\/span>
\n <\/b>
\n <\/span>\n <\/p>\n

\n (Unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six Months Ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n June\u00a030,\u00a02024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $9,561,227<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $11,792,661<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $19,350,036<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $22,028,577<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (860,027)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,992,482<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6,827,248)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (18,392,249)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net realized loss on foreign currency translation<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (20,003)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (29,789)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (49,658)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (54,895)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total realized net investment income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $8,681,197<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $13,755,354<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $12,473,130<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $3,581,433<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Per share amounts:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net investment income per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.48<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.69<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.90<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Realized net investment income per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.31<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.55<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.45<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $0.15<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/stellus-capital-investment-corporation-reports-results-for-its-second-fiscal-quarter-ended-june-30-2025-302523620.html<\/a><\/p>\n

SOURCE Stellus Capital Investment Corporation<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire HOUSTON , Aug. 6, 2025 \/PRNewswire\/ —\u00a0Stellus Capital Investment Corporation (NYSE:SCM) (“Stellus”, “we”, or the “Company”) today announced financial results for its fiscal quarter ended June 30, 2025. Robert T. Ladd, Chief Executive Officer of Stellus, stated, “I am pleased to report solid operating results for the quarter ended June 30, 2025, in which we earned U.S. GAAP net investment income of $0.34 per share and core net investment income of $0.35 per share. During the quarter, we funded $23 million of investments and received $32 million of repayments, resulting in a total portfolio of $986 million at fair value. We raised an additional $4 million of equity during the quarter under the at-the-market equity program. I’m also … <\/p>\n

Continue reading “Stellus Capital Investment Corporation Reports Results for its Second Fiscal Quarter Ended June 30, 2025”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-871962","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nStellus Capital Investment Corporation Reports Results for its Second Fiscal Quarter Ended June 30, 2025 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/stellus-capital-investment-corporation-reports-results-for-its-second-fiscal-quarter-ended-june-30-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stellus Capital Investment Corporation Reports Results for its Second Fiscal Quarter Ended June 30, 2025 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HOUSTON , Aug. 6, 2025 \/PRNewswire\/ —\u00a0Stellus Capital Investment Corporation (NYSE:SCM) (“Stellus”, “we”, or the “Company”) today announced financial results for its fiscal quarter ended June 30, 2025. Robert T. Ladd, Chief Executive Officer of Stellus, stated, “I am pleased to report solid operating results for the quarter ended June 30, 2025, in which we earned U.S. GAAP net investment income of $0.34 per share and core net investment income of $0.35 per share. During the quarter, we funded $23 million of investments and received $32 million of repayments, resulting in a total portfolio of $986 million at fair value. We raised an additional $4 million of equity during the quarter under the at-the-market equity program. 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