Gladstone Investment Corporation Announces Pricing of 7.875% Notes

Gladstone Investment Corporation, listed on NASDAQ as GAIN, has announced the pricing of a public offering totaling $110 million in principal amount for 7.875% Notes due in 2030. These Notes are set to mature on February 1, 2030, with redemption options available starting February 1, 2027. The annual interest rate of 7.875% will be paid quarterly, commencing on February 1, 2025.

The company has granted underwriters a 30-day option to purchase an additional $16.5 million in Notes to address overallotments. It plans to list these Notes on the Nasdaq Global Select Market under the symbol "GAINI" within 30 days post-issuance. Oppenheimer & Co. Inc. is among the joint managers overseeing this offering.

The funds raised will primarily repay part of the revolving credit facility and finance new investments and general corporate purposes. The closing, expected on December 17, 2024, is contingent on customary conditions.