Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 37

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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— — Preferred equity— — Common equity/equivalents— — Total Control Investments770 343 Total investments at fair value using Level 3 inputs$1,125,784 $974,345 

23

In accordance with ASC 820, the following table provides quantitative information about our investments valued using Level 3 fair value measurements as of September 30, 2025 and March 31, 2025. The table below is not intended to be all-inclusive, but rather provides information on the significant Level 3 inputs as they relate to our fair value measurements. The weighted-average calculations in the table below are based on the principal balances for all debt-related calculations and on the cost basis for all equity-related calculations for the particular input.Quantitative Information about Level 3 Fair Value MeasurementsFair Value as ofValuationTechnique/MethodologyUnobservableInputRange / Weighted-Average as ofSeptember 30, 2025March 31, 2025September 30, 2025March 31, 2025Secured first lien debt$593,979 $514,334 TEVEBITDA multiple3.5x – 8.0x / 6.2x3.7x – 7.9x / 6.0xEBITDA$538 – $23,126 /$11,372$1,208 – $25,038 / $12,162Revenue multiple0.3x – 0.6x / 0.5x0.3x – 0.6x / 0.4xRevenue$21,649 – $104,790 /$65,258$6,690 – $102,791 / $72,303Secured second lien debt90,633 90,956 TEVEBITDA multiple5.0x – 7.3x / 6.6x6.1x – 7.2x / 6.8xEBITDA$5,130 – $31,248 /$20,921$3,637 – $24,234 / $16,900— 12,624 Yield AnalysisDiscount RateN/A20.7% – 20.7% / 20.7%Preferred equity365,278 302,163 TEVEBITDA multiple3.5x – 8.0x / 6.2x3.7x – 7.9