Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 130

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 2
Chunk 130
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96.4 million compared to net cash used in operating activities of $75.7 million for the nine months ended December 31, 2023. This change was primarily due to an increase in purchases of investments.

Purchases of investments were $207.2 million during the nine months ended December 31, 2024, compared to $183.0 million during the nine months ended December 31, 2023. Aggregate net proceeds from the sale and recapitalization of investments and principal repayments of investments totaled $82.0 million during the nine months ended December 31, 2024, compared to $79.7 million during the nine months ended December 31, 2023.

As of December 31, 2024, we had equity investments in and/or loans to 26 portfolio companies with an aggregate cost basis of $1.0 billion. As of December 31, 2023, we had equity investments in and/or loans to 25 portfolio companies with an aggregate cost basis of $868.5 million. 

The following table summarizes our total portfolio investment activity during the nine months ended December 31, 2024 and 2023:

Nine Months Ended December 31,20242023Beginning investment portfolio, at fair value$920,504 $753,543 New investments178,844 61,258 Disbursements to existing portfolio companies28,348 121,730 Unscheduled principal repayments(33,500)(27,500)Net proceeds from sale and recapitalization of investments(48,546)(52,228)Net realized gain on investments42,305 44,614 Net unrealized (depreciation) appreciation of investments22,299 45,050 Reversal of net unrealized depreciation (appreciation) of investments(38,024)(43,659)Ending investment portfolio, at fair value$1,072,230 $902,808 

The following table summarizes the contractual principal repayment and maturity of our investment portfolio by fiscal year, assuming no voluntary prepayments, as of December 31, 2024:

AmountFor the remaining three months ending March 31, 2025$49,060 For the fiscal years ending March 31:2026215,780 2027219,486 202866,231 2029100,394 Thereafter129,506 Total contractual repayments$780,457 Investments in equity