Company: GAINI
Filing Date: 2025-11-06
Form Type: 424B2
Source: 0001193125-25-269767
Chunk: 9

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-06
Form: 424B2
Chunk 9
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 and the more general description of our debt securities in the accompanying prospectus under the heading “Description of Our Securities—Debt Securities” before investing in the Notes.

| Issuer | Gladstone Investment Corporation |

| Title of the securities | 6.875% Notes due 2028 |

| Aggregate principal amount being offered | $60,000,000 |

| Public Offering Price | 100.000% |

| Principal payable at maturity | 100% of the aggregate principal amount. The outstanding principal amount of the Notes will be payable on the stated maturity date at the office of the trustee, paying agent and security registrar for the Notes or at such other office as we may designate. |

| No established trading market | We do not intend to list the Notes on any securities exchange or automated dealer quotation system. We cannot assure you that a liquid market for the Notes will develop or be maintained. |

| Interest rate | 6.875% per year |

| Yield to Maturity | 6.875% |

| Day count basis | 360-dayyear of twelve30-daymonths |

| Specified currency | U.S. Dollars |

| Ranking of Notes | The Notes will be our direct unsecured obligations and will rank: |

| • |     | pari passuwith our existing and future unsecured, unsubordinated indebtedness, including our Existing Notes; |

| • |     | senior to any series of preferred stock that we may issue in the future; |

| • |     | senior to any of our future indebtedness that expressly provides it is subordinated to the Notes; |

| • |     | effectively subordinated to any future secured indebtedness of Gladstone Investment Corporation (including indebtedness that is initially unsecured to which we subsequently grant security), to the extent of the value of theassetssecuring such indebtedness; and |

S-4

| • |     | structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries, including the approximately $96.9 million in borrowings outstanding as of November 5, 2025 under our Fifth Amended and Restated Credit Agreement with KeyBank National Association, as amended (the “Credit Facility”). |

| Denominations | We will issue the Notes in denominations of $1,000 and integral multiples of $1,000 in excess thereof. |

| Business day | Each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in New York City or the place of