Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 68

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 the average balance of net assets at the end of each month of the reporting period.(H)Ratio of net expenses to average net assets is computed using total expenses, net of any non-contractual, unconditional, and irrevocable credits of fees from the Adviser. Had we not received any non-contractual, unconditional, and irrevocable credits of fees from the Adviser, the ratio of expenses to average net assets - annualized would have been 22.12% and 14.70% for the three months 

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ended December 31, 2024 and 2023, respectively, and 23.77% and 17.27% for the nine months ended December 31, 2024 and 2023, respectively.(I)Had we not received any non-contractual, unconditional, and irrevocable credits of fees from the Adviser, the ratio of net investment (loss) income to average net assets - annualized would have been (3.56)% and 4.73% for the three months ended December 31, 2024 and 2023, respectively, and 4.18% and 1.32% for the nine months ended December 31, 2024 and 2023, respectively.

NOTE 11.  UNCONSOLIDATED SIGNIFICANT SUBSIDIARIES

In accordance with the SEC’s Regulation S-X, we do not consolidate portfolio company investments. Further, in accordance with ASC 946, we are precluded from consolidating any entity other than another investment company, except that ASC 946 provides for the consolidation of a controlled operating company that provides substantially all of its services to the investment company or its consolidated subsidiaries. We did not have any unconsolidated subsidiaries that met any of the significance conditions under Rule 1-02(w) of the SEC’s Regulation S-X as of or during the nine months ended December 31, 2024 and 2023. 

NOTE 12.  SUBSEQUENT EVENTS

Distributions and Dividends•In January 2025, our Board of Directors declared the following monthly distributions to common stockholders:Record DatePayment DateDistribution per Common ShareJanuary 24, 2025January 31, 2025$0.08 February 19, 2025February 28, 20250.08 March 19, 2025March 31, 20250.08 Total for the Quarter:$