Company: GAINI
Filing Date: 2025-08-12
Form Type: 40-APP/A
Source: 0001193125-25-178985
Chunk: 1

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 40-APP/A
Chunk 1
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 the Act (“GALT”);      |

| • | Gladstone Capital Corporation, a                                                                                      
 closed-end management investment company that has elected to be regulated as a business development company (“GLAD”); |

| • | Gladstone Investment Corporation, a                                                                                                                   
 closed-end management investment company that has elected to be regulated as a business development company (“GAIN” and, together with GALT and GLAD, 
 the “Existing Regulated Funds”);                                                                                                                      |

| • | Certain vehicles (as identified on Schedule A hereto) (the “Existing Wholly-Owned                                                                                              
 Subsidiaries”), each of which is a separate and distinct legal entity and each of which is a Wholly-Owned Investment Sub (as defined below) of an Existing Regulated Fund; and |

| 1 | Unless otherwise indicated, all section and rule references herein are to the 1940 Act and rules promulgated 
 thereunder.                                                                                                  |

| 2 | Gladstone Capital Corporation, et al. (File No. 812-13878), Release No. IC-30125 (June 29, 2012) (notice), Release No. IC-30154 (July 26, 2012) (order). |

| C. | GAIN |

GAIN was organized as a corporation under the Delaware General Corporation Law on February 18, 2005 and completed an initial public offering on June 22, 2005. GAIN is an externally managed, non-diversified, closed-end managementinvestment company that has elected to be regulated as a BDC, under the Act. GAIN intends to qualify annually as a regulated investment company under Sub-ChapterM of the Internal Revenue Code of 1986, as amended. GAIN’s principal place of business is 1521 Westbranch Drive, Suite 100, McLean, Virginia 22102. GAIN’s investment objectives are to: (i) achieve and grow current income by investing in debt securities of established businesses that GAIN believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on GAIN’s outstanding indebtedness and make distributions to stockholders that grow over time, and (ii) provide GAIN’s stockholders with long-term capital appreciation in the value of GAIN’s assets by investing in equity securities of established businesses, generally in combination with the aforementioned debt securities, that GAIN believes can grow over time to permit it to sell its equity investments for capital gains. GAIN has a seven