Company: GAINI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001321741-25-000018
Chunk: 47

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 and March 31, 2025 were $0.1 million. These amounts are generally settled in the quarter subsequent to being incurred and have been included in Other assets, net on the accompanying Consolidated Statements of Assets and Liabilities.

NOTE 5.  BORROWINGS

Revolving Line of CreditAs of June 30, 2025, our Credit Facility had a total commitment amount of $270.0 million with an "accordion" feature that permits us to increase the size of the facility to $300.0 million. The Credit Facility has a revolving period end date of October 30, 2026 and a final maturity date of October 30, 2028 (at which time all principal and interest will be due and payable if the Credit Facility is not extended by the revolving period end date).Advances under the Credit Facility generally bear interest at 30-day Term SOFR, subject to a floor of 0.35%, with a SOFR credit spread adjustment of 10 basis points, plus a margin of 3.15% per annum until October 30, 2026, with the margin then increasing to 3.40% for the period from October 30, 2026 to October 30, 2027, and increasing further to 3.65% thereafter. The Credit Facility has an unused commitment 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 June 30, 2025As of March 31, 2025Commitment amount$270,000$270,000Borrowings outstanding at cost$62,000$—Availability(A)$208,000$270,000For the Three Months Ended June 30,20252024Weighted-average borrowings outstanding$36,318 $64,746 Effective interest rate(B)14.0%10.8%Unused commitment fees incurred$592 $342 (A)Availability is subject to various constraints, characteristics and applicable advance rates based on collateral quality under our Credit Facility