Company: GAINI
Filing Date: 2025-11-06
Form Type: 424B2
Source: 0001193125-25-269767
Chunk: 7

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-06
Form: 424B2
Chunk 7
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 categories of investments in private companies in the U.S.:

| • |     | Secured First Lien Debt Securities:We seek to invest a portion of our assets in secured first lien debt securities also known as senior loans, senior term loans, lines of credit and senior notes. Using its assets as collateral, the borrower typically uses secured first lien debt to cover a substantial portion of the funding needs of the business. These debt securities usually take the form of first priority liens on all, or substantially all, of the assets of the business. |

| • |     | Secured Second Lien Debt Securities:We seek to invest a portion of our assets in secured second lien debt securities, which may also be referred to as subordinated loans, subordinated notes and mezzanine loans. These secured second lien debt securities rank junior to the borrower’s secured first lien debt securities and may be secured by second priority liens on all or a portion of the assets of the business. Additionally, we may receive other yield enhancements in addition to or in lieu of success fees, suchas |

S-2

| warrants to buy common and preferred stock or limited liability interests, in connection with these secured second lien debt securities. |

| • |     | Preferred and Common Equity/Equivalents: We seek to invest a portion of our assets in equity securities, which consist of preferred and common equity, limited liability company interests, warrants or options to acquire such securities, and are generally in combination with our debt investment in a business. Additionally, we may receive equity investments derived from restructurings on some of our existing debt investments. In many cases, we will own a significant portion of the equity of the businesses in which we invest. |

Under the 1940 Act, we may not acquire any asset other than assets of the type listed in Section 55(a) of the 1940 Act, which are referred to as “qualifying assets” and generally include each of the investment types listed above, unless, at the time the acquisition is made, qualifying assets (other than certain assets related to our operations) represent at least 70.0% of our total assets. See “— Regulation as a BDC — Qualifying Assets” in our most recently filed Annual Report on Form 10-Kfor a discussion of the types of qualifying assets in which we are permitted to invest pursuant to Section 55(a) of the 1940 Act. We expect that most, if not all, of the debt securities we acquire will not