The newly issued notes will carry an interest rate of 6.750% per annum, with semi-annual payments slated for March 19 and September 19 each year, starting September 19, 2025. These notes are unsecured and will rank equally with Fidus's existing and future unsecured, unsubordinated debt. The notes are senior to any potential future preferred stock issuances and to any future subordinated debt but are subordinate to any existing or future secured debt. With a current total debt of $474.89 million and a healthy current ratio of 2.19, InvestingPro analysis indicates the company maintains strong liquidity to service its debt obligations. Proceeds from the note offering are intended to repay part of the outstanding borrowings under Fidus's senior secured revolving credit facility with ING Capital LLC. However, the company retains the flexibility to reborrow under the credit facility for investments in line with its strategic objectives or for general corporate purposes.