Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 38

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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x /6.1xEBITDA$538 – $23,126 /$9,778$2,153 – $25,038 / $11,029Revenue multiple0.3x – 0.6x / 0.4x0.3x – 0.6x / 0.4xRevenue$21,649 – $104,790 /$79,691$6,690 – $102,791 / $53,604Common equity/equivalents75,894 54,268 TEVEBITDA multiple5.0x – 7.3x / 6.9x5.5x – 7.2x / 6.8xEBITDA$714 – $31,248 / $22,994$1,208 – $24,234 / $18,562Total$1,125,784 $974,345 Fair value measurements can be sensitive to changes in one or more of the valuation inputs. Changes in discount rates, EBITDA or EBITDA multiples (or revenue or revenue multiples), each in isolation, may change the fair value of certain of our investments. Generally, an increase/(decrease) in market yields or discount rates or a (decrease)/increase in EBITDA or EBITDA multiples (or revenue or revenue multiples) may result in a (decrease)/increase in the fair value of certain of our investments.

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Changes in Level 3 Fair Value Measurements of InvestmentsThe following tables provide our portfolio’s changes in fair value, broken out by security type, during the three and six months ended September 30, 2025 and 2024 for all investments for which the Adviser determines fair value using unobservable (Level 3) inputs. Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Secured First LienDebtSecuredSecond LienDebtPreferredEquityCommonEquity/EquivalentsTotalThree Months Ended September 30, 2025:Fair value as of June 30, 2025$557,057 $93,340 $325,997 $55,341 $1,031,735 Total gain (loss):Net realized gain (loss)(A)(29,938)— — — (29,938)Net unrealized (depreciation) appreciation(B)(744)(2,707)18,181 20,553 35,283 Reversal