Company: GAINI
Filing Date: 2025-11-06
Form Type: 424B2
Source: 0001193125-25-269767
Chunk: 22

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-06
Form: 424B2
Chunk 22
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 483,554 |   |     |             |   483,554 |   |
| Cumulative net unrealized appreciation of investments                                                                                                             |     |                          |    93,659 |   |     |             |    93,659 |   |
| Cumulative net unrealized appreciation of other                                                                                                                   |     |                          |      (353 | ) |     |             |      (353 | ) |
| Overdistributed net investment income                                                                                                                             |     |                          |   (20,095 | ) |     |             |   (20,095 | ) |
| Accumulated net realized loss in excess of distributions                                                                                                          |     |                          |   (20,962 | ) |     |             |   (20,962 | ) |
| Total Net Assets Available to Common Stockholders                                                                                                                 |     |                          |   535,843 |   |     |             |   535,843 |   |
| Total Capitalization                                                                                                                                              |     |                          | 1,090,521 |   |     |             | 1,091,821 |   |

| * | None of these outstanding shares are held by us or for our account. |

| ** | Assumes a total of $0.9 million of aggregate underwriting discounts and commissions and $0.4 million of estimated offering costs payable by us in connection with this offering will be capitalized and amortized over the life of the Notes. |

The following are our outstanding classes of securities as of September 30, 2025.

| TITLE OF CLASS        
 Common Stock          |     | AMOUNTAUTHORIZED | 100,000,000 shares |     | AMOUNT HELDBY US ORFOR OURACCOUNT | — |     | AMOUNTOUTSTANDING(EXCLUSIVEOF AMOUNTSHELD BY USOR FOR OURACCOUNT) |  39,591,037 |
|:----------------------|:----|:-----------------|-------------------:|:----|:----------------------------------|:--|:----|:------------------------------------------------------------------|------------:|
| 5.00% Notes due 2026  |     | $                |        127,937,500 |     |                                   | — |     | $                                                                 | 127,937,500 |
| 4.875% Notes due 2028 |     | $                |        134,550,000 |     |                                   | — |     | $                                                                 | 134,550,000 |
| 8.00% Notes