Company: GAINI
Filing Date: 2025-05-13
Form Type: 10-K
Source: 0001321741-25-000010
Chunk: 12

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-13
Form: 10-K
Item: Item 8
Chunk 12
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ASH, AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF YEAR3,220 3,248 14,495 CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS, END OF YEAR$15,154 $3,220 $3,248 CASH PAID FOR INTEREST$25,431 $21,978 $14,103 

(A)Refer to Note 4 — Related Party Transactions in the accompanying Notes to Consolidated Financial Statements for additional information.

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS.77

Supplemental disclosures of non-cash operating activities:

For the year ended March 31, 2024:

•In March 2024, we recognized a $14.7 million realized loss on our preferred and common equity investments and related first and second lien debt investments in The Mountain Corporation ("The Mountain") upon its liquidation and dissolution.

For the year ended March 31, 2023:

•In August 2022, in conjunction with a refinancing at Ginsey Home Solutions, Inc. ("Ginsey"), there was a $5.1 million payment made by Ginsey to extinguish our secured borrowing liability.

•In December 2022, we replaced our previously outstanding secured second lien term loan and second lien delayed draw term loan to The Mountain with a total aggregate cost basis of $13.2 million with a new $3.2 million secured second lien term loan, which resulted in a realized loss of $10.0 million.

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS.78

Table of ContentsGLADSTONE INVESTMENT CORPORATIONCONSOLIDATED SCHEDULE OF INVESTMENTSMARCH 31, 2025(DOLLAR AMOUNTS IN THOUSANDS)

Company and Investment(A)(B)(D)(E)Principal/Shares/ Units(F)(H)CostFair ValueNON-CONTROL/NON-AFFILIATE INVESTMENTS(L) –130.0%Secured First Lien Debt – 60.3%Aerospace and Defense – 12.3%Ricardo Defense, Inc.(K) – Term Debt (SOFR+9.0%, 13.3% Cash, Due 12/2029)(J)$61