Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 52

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 fee on the daily unused commitment amount of 0.50% per annum if the daily unused commitment amount is less than or equal to 50% of the total commitment amount, 0.75% per annum if the daily unused commitment amount is greater than 50% but less than or equal to 65% of the total commitment amount, and 1.00% per annum if the daily unused commitment amount is greater than 65% of the total commitment amount. 

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The following tables summarize noteworthy information related to our Credit Facility:As of September 30, 2025As of March 31, 2025Commitment amount$270,000$270,000Borrowings outstanding at cost$97,700$—Availability(A)$172,300$270,000For the Three Months Ended September 30,For the Six Months Ended September 30,2025202420252024Weighted-average borrowings outstanding$107,599 $60,808 $72,153 $62,766 Effective interest rate(B)8.9%11.0%10.2%10.9%Unused commitment fees incurred$328 $320 $920 $661 (A)Availability is subject to various constraints, characteristics and applicable advance rates based on collateral quality under our Credit Facility, which equated to an adjusted availability of $172.3 million and $270.0 million as of September 30, 2025 and March 31, 2025, respectively.(B)Excludes the impact of deferred financing costs and includes unused commitment fees.Among other things, our Credit Facility contains a performance guaranty that requires us to maintain: (i) a minimum net worth of the greater of $210.0 million or $210.0 million plus 50% of all equity and subordinated debt raised, minus 50% of any equity or subordinated debt redeemed or retired after November 16, 2016, which equated to $432.4 million as of September 30, 2025; (ii) asset coverage with respect to senior securities representing indebtedness of at least 150% (or such percentage as may be set forth in Section 18 of the 1940 Act, as modified by Section 61 of the 1940 Act); and (iii) our status as a BDC under the 1940 Act and as a RIC under the Code. As of September 30, 2025, and as