Company: GAINI
Filing Date: 2025-05-13
Form Type: 10-K
Source: 0001321741-25-000010
Chunk: 182

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-13
Form: 10-K
Item: Item 5
Chunk 182
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including interest payable and guaranties). Asset coverage per unit is the asset coverage ratio expressed in terms of dollar amounts per one thousand dollars of indebtedness.(3)The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it.(4)Only applicable to our Term Preferred Stock and the Notes because the other senior securities are not registered for public trading. Average market value per unit is the average of the closing price of the shares on Nasdaq during the last 10 trading days of the period.(5)Our Series A Term Preferred Stock was issued in March 2012 and redeemed in September 2016.(6)Our Series B Term Preferred Stock was issued in November 2014 and redeemed in August 2018.(7)Our Series C Term Preferred Stock was issued in May 2015 and redeemed in August 2018.(8)Our Series D Term Preferred Stock was issued in September 2016 and redeemed in March 2021.(9)Our Series E Term Preferred Stock was issued in August 2018 and redeemed in August 2021.(10)Our 5.00% 2026 Notes were issued in March 2021.(11)Our 4.875% 2028 Notes were issued in August 2021.(12)Our 8.00% 2028 Notes were issued in May 2023.(13)Our 7.875% 2030 Notes were issued in December 2024.(14)In August 2012, we entered into a participation agreement with a third-party related to $5.0 million of our secured second lien term debt investment in Ginsey Home Solutions, Inc. (“Ginsey”). In May 2014, we amended the agreement with the third-party to include an additional $0.1 million. Accounting Standards Codification Topic 860, “Transfers and Servicing” requires us to treat the participation as a financing-type transaction. Specifically, the third-party has a senior claim to our remaining investment in the event of default by Ginsey which, in part, resulted in the loan participation bearing a rate of interest lower than the contractual rate established at origination. In conjunction with the August 2022 refinancing at Ginsey, the $5.1 million secured borrowing liability was extinguished.