Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 120

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 2
Chunk 120
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 do not necessarily reflect amounts contractually due under the terms of the Advisory Agreement.

Interest expense decreased $0.1 million, or 2.1%, during the three months ended December 31, 2024, as compared to the prior year period, primarily due to decreased borrowings on the Credit Facility, partially offset by an increase in the effective interest rate. The weighted-average balance outstanding under the Credit Facility during the three months ended December 31, 2024 was $41.9 million, compared to $77.4 million in the prior year period. The effective interest rate on the Credit Facility, excluding the impact of deferred financing costs, during the three months ended December 31, 2024 was 11.8%, as compared to 9.2% in the prior year period. The increase in the effective interest rate on the Credit Facility was primarily a result of an increase in unused commitment fees on the undrawn portion of the Credit Facility, partially offset by lower interest rates on the drawn portion of the Credit Facility during the three months ended December 31, 2024.

51

Realized and Unrealized Gain (Loss)

The realized gains (losses) and unrealized appreciation (depreciation) across our investments for the three months ended December 31, 2024 and 2023 were as follows:

Three Months Ended December 31, 2024Portfolio CompanyRealized Gain (Loss)Unrealized Appreciation (Depreciation)Reversal of Unrealized (Appreciation) DepreciationNet Gain (Loss)Nocturne Luxury Villas, Inc.$— $13,680 $— $13,680 The E3 Company, LLC— 11,895 — 11,895 SFEG Holdings, Inc.— 8,445 — 8,445 Schylling, Inc.— 4,773 — 4,773 ImageWorks Display and Marketing Group, Inc.— 3,269 — 3,269 UPB Acquisition, Inc.— 2,063 — 2,063 J.R. Hobbs Co. - Atlanta, LLC— 1,635 — 1,635 Brunswick Bowling Products, Inc.— 1,488 — 1,488 Old World Christmas, Inc.— 1,350 — 1,350 Ginsey Home Solutions, Inc.— 1,189 — 1,189 The