Company: GAINI
Filing Date: 2025-05-20
Form Type: 40-APP
Source: 0001193125-25-123227
Chunk: 5

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-20
Form: 40-APP
Chunk 5
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 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-member board (the “ GAIN Board” and, together with the GALT Board and the GLAD Board, the “ Board”), of which five members are not “interested” persons of GAIN within the meaning of Section 2(a)(19) of the Act.

| D. | GMC |

GMC serves as the investment adviser of the Existing Regulated Funds, and either it or another Adviser will serve as the investment adviser to any Future Regulated Fund. GMC is a Delaware corporation and is a registered investment adviser with the Commission under the Advisers Act. On the date of this Application, GMC’s sole clients that intend to rely on the Order are GALT, GAIN and GLAD. GMC is a leading alternative asset manager providing services to funds that invest in a diverse range of alternative strategies, including private debt, private equity, real estate and natural resource real assets. The firm is headquartered in McClean, Virginia and has offices in other states. Under the terms of an investment advisory agreement with each Existing Regulated Fund, GMC will, among other things, manage the investment portfolio, direct purchases and sales of portfolio securities and report thereon to each Existing Regulated Fund’s officers and directors/trustees regularly.

| III. | ORDER REQUESTED |

The Applicants request an Order of the