Company: GAINI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001321741-25-000018
Chunk: 146

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 146
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 extended by the revolving period end date).Advances under the Credit Facility generally bear interest at 30-day Term SOFR, subject to a floor of 0.35%, with a SOFR credit spread adjustment of 10 basis points, plus a margin of 3.15% per annum until October 30, 2026, with the margin then increasing to 3.40% for the period from October 30, 2026 to October 30, 2027, and increasing further to 3.65% thereafter. The Credit Facility has an unused commitment fee on the daily unused commitment amount of 0.50% per annum if the daily unused commitment amount is less than or equal to 50% of the total commitment amount, 0.75% per annum if the daily unused commitment amount is greater than 50% but less than or equal to 65% of the total commitment amount, and 1.00% per annum if the daily unused commitment amount is greater than 65% of the total commitment amount. 

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The following tables summarize noteworthy information related to our Credit Facility:As of June 30, 2025As of March 31, 2025Commitment amount$270,000$270,000Borrowings outstanding at cost$62,000$—Availability(A)$208,000$270,000For the Three Months Ended June 30,20252024Weighted-average borrowings outstanding$36,318 $64,746 Effective interest rate(B)14.0%10.8%Unused commitment fees incurred$592 $342 (A)Availability is subject to various constraints, characteristics and applicable advance rates based on collateral quality under our Credit Facility, which equated to an adjusted availability of $208.0 million and $270.0 million as of June 30, 2025 and March 31, 2025, respectively.(B)Excludes the impact of deferred financing costs and includes unused commitment fees.Among other things, our Credit Facility contains a performance guaranty that requires us to maintain: (i) a minimum net worth of the greater of $210.0 million or $210.0 million plus 50% of all equity and subordinated debt raised, minus 50% of any equity or subordinated debt redeemed or retired after November 16, 2016, which equated to $416.6 million as of June 30, 2025; (ii) asset coverage with respect to