Company: GAINI
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001321741-25-000005
Chunk: 162

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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210,624 162,522 Common equity/equivalents(A)50,350 42,005 Total Non-Control/Non-Affiliate Investments740,581 622,215 Affiliate InvestmentsSecured first lien debt212,654 147,603 Secured second lien debt15,889 45,363 Preferred equity97,602 50,958 Common equity/equivalents(B)— 51,442 Total Affiliate Investments326,145 295,366 Control InvestmentsSecured first lien debt504 2,905 Secured second lien debt— — Preferred equity— — Common equity/equivalents— — Total Control Investments504 2,905 Total investments at fair value using Level 3 inputs$1,067,230 $920,486 (A)Excludes our investment in Funko as of March 31, 2024 with a fair value of $18 thousand, which was valued using Level 2 inputs.(B)Excludes our investment in Gladstone Alternative as of December 31, 2024 with a fair value of $5.0 million, which was valued using NAV as a practical expedient.

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In accordance with ASC 820, the following table provides quantitative information about our investments valued using Level 3 fair value measurements as of December 31, 2024 and March 31, 2024. The table below is not intended to be all-inclusive, but rather provides information on the significant Level 3 inputs as they relate to our fair value measurements. The weighted-average calculations in the table below are based on the principal balances for all debt-related calculations and on the cost basis for all equity-related calculations for the particular input.Quantitative Information about Level 3 Fair Value MeasurementsFair Value as ofValuationTechnique/MethodologyUnobservableInputRange / Weighted-Average as ofDecember 31,2024March 31,2024December 31,2024March 31,2024Secured first lien debt$599,911 $474,856 TEVEBITDA multiple2.8x – 11.8x / 6.8x4.2x – 8.8x / 6.4xEBITDA$969 – $26,000 /$12,328$1,091 – $23,547 / $10,509Revenue multiple0.2x – 0.6x / 0.