Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 161

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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observable Inputs(Level 3)As of December 31, 2024:Secured first lien debt$599,911 $— $— $599,911 Secured second lien debt108,743 — — 108,743 Preferred equity308,226 — — 308,226 Common equity/equivalents (A)50,350 — — 50,350 Total Investments as of December 31, 2024$1,067,230 $— $— $1,067,230 Fair Value MeasurementsFair ValueQuoted Prices in Active Markets for Identical Assets(Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)As of March 31, 2024:Secured first lien debt$474,856 $— $— $474,856 Secured second lien debt138,703 — — 138,703 Preferred equity213,480 — — 213,480 Common equity/equivalents93,465 — 18 (B)93,447 Total Investments as of March 31, 2024$920,504 $— $18 $920,486 (A)Excludes our investment in Gladstone Alternative with a fair value of $5.0 million as of December 31, 2024. Gladstone Alternative was valued using NAV as a practical expedient.(B)Fair value was determined based on the closing market price of shares of Funko, Inc. (our units in Funko could be converted into common shares of Funko, Inc.) at the reporting date less a discount for lack of marketability, as our investment was subject to certain restrictions.

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The following table presents our investments, valued using Level 3 inputs within the ASC 820 fair value hierarchy, and carried at fair value as of December 31, 2024 and March 31, 2024, by caption on our accompanying Consolidated Statements of Assets and Liabilities, and by security type:Total Recurring Fair Value MeasurementsReported in Consolidated Statementsof Assets and LiabilitiesValued Using Level 3 InputsDecember 31, 2024March 31, 2024Non-Control/Non-Affiliate InvestmentsSecured first lien debt$386,753 $324,348 Secured second lien debt92,854 93,340 Preferred equity