Company: GAINI
Filing Date: 2025-08-13
Form Type: 40-APP/A
Source: 0001193125-25-179356
Chunk: 1

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-13
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 |

| 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). |

defined below) of an Existing Regulated Fund; and

| • | Gladstone Management Corporation, the investment adviser to GALT, GLAD and GAIN (“GMC”                           
 and, together with the Existing Regulated Funds and the Existing Wholly-Owned Subsidiaries, the “Applicants”); 3 |

The relief requested in this application for the Order (the “ Application”) would allow a Regulated Fund 4and one or more Affiliated Entities 5to engage in Co-Investment Transactions 6subject to the terms and conditions described

| 3 | All existing entities that currently intend to rely upon the requested Order have been named as Applicants. Any                     
 other existing or future entity that subsequently relies on the Order will comply with the terms and conditions of the Application. |

| 4 | “Regulated Fund” means the Existing Regulated Funds and any Future Regulated Funds.                                                                                                                                                                                                                                 
 “Future Regulated Fund” means an entity (a) that is a closed-end management investment company registered under the 1940 Act, or a                                                                                                                                                                                  
 closed-end management investment company that has elected to be regulated as a business development company under the 1940 Act, (b) whose (1) primary investment adviser or                                                                                                                                         
 (2) sub-adviser is an Adviser (as defined below