Company: GAINI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001321741-25-000018
Chunk: 33

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 Marketsfor Identical Assets(Level 1)SignificantOtherObservable Inputs(Level 2)Significant Unobservable Inputs(Level 3)Fair ValueAs of June 30, 2025:Secured first lien debt$— $— $557,057 $557,057 Secured second lien debt— — 93,340 93,340 Preferred equity— — 325,997 325,997 Common equity/equivalents— — 55,341 55,341 Total$— $— $1,031,735 $1,031,735 Investments measured at NAV (A)— — — 5,010 Total Investments as of June 30, 2025$— $— $1,031,735 $1,036,745 

21

Fair Value MeasurementsQuoted Prices in Active Markets for Identical Assets(Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)Fair ValueAs of March 31, 2025:Secured first lien debt$— $— $514,334 $514,334 Secured second lien debt— — 103,580 103,580 Preferred equity— — 302,163 302,163 Common equity/equivalents— — 54,268 54,268 Total$— $— $974,345 $974,345 Investments measured at NAV (A)— — — 4,975 Total Investments as of March 31, 2025$— $— $974,345 $979,320 (A)Includes our investment in Gladstone Alternative as of June 30, 2025 and March 31, 2025. Investments that are measured at fair value using NAV as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented elsewhere in this Quarterly Report.

The following table presents our investments, valued using Level 3 inputs within the ASC 820 fair value hierarchy, and carried at fair value as of June 30, 2025 and March 31, 2025, by caption on our accompanying Consolidated Statements of Assets and Liabilities, and by security type:Total Recurring Fair Value MeasurementsReported in Consolid