Company: GAINI
Filing Date: 2025-11-06
Form Type: 424B2
Source: 0001193125-25-269767
Chunk: 21

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-06
Form: 424B2
Chunk 21
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 to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise, you are advised to consult any additional disclosures that we may make directly to you or through reports or other documents we have filed, or in the future may file, with the SEC, including subsequent annual reports on Form 10-K, quarterlyreports on Form 10-Q andcurrent reports on Form 8-K. Theforward-looking statements contained or incorporated by reference in this prospectus supplement and the accompanying prospectus are excluded from the safe harbor protection provided by the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act. S-1 3

USE OF PROCEEDS We estimate that net proceeds from the sale of $60.0 million aggregate principal amount of the Notes in this offering will be approximately $58.7 million after deducting estimated underwriting discounts and commissions and offering expenses of approximately $0.9 million and $0.4 million, respectively, payable by us. We intend to use the net proceeds from this offering to repay a portion of our outstanding indebtedness under the Credit Facility, to fund new investment opportunities, and for other general corporate purposes. As of November 5, 2025, we had approximately $96.9 million of debt outstanding under the Credit Facility, which has a revolving period end date of October 30, 2026 and maturity date of October 30, 2028. Advances under the Credit Facility generally bear interest at 30-dayTerm SOFR, subject to a floor of 0.35%, plus 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, in each case, with a SOFR credit spread adjustment of 10 basis points. We intend to re-borrowunder our Credit Facility to make investments in portfolio companies in accordance with our investment objectives depending on the availability of appropriate investment opportunities consistent with our investment objectives and market conditions and for other general corporate purposes. Pending such uses, we will invest a portion of the net proceeds of this offering in short-term investments, such as cash and cash equivalents, which we expect will earn yields substantially lower than the interest income that we anticipate receiving in respect of investments in accordance with our investment objectives. S-1 4

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