Company: GAINI
Filing Date: 2025-11-06
Form Type: 424B2
Source: 0001193125-25-269767
Chunk: 46

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-06
Form: 424B2
Chunk 46
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 of the underwriter to purchase the Notes are subject to approval of legal matters by counsel to the underwriter and certain other conditions, including the receipt by the underwriter of officers’ certificates and legal opinions. The underwriter reserves the right to withdraw, cancel or modify offers and to reject orders in whole or in part. Investors must pay for the Notes purchased in this offering on or about November 10, 2025. Commissions and Discounts An underwriting discount of 1.500% per Note will be paid by us. The underwriter has advised us that it proposes initially to offer the Notes to the public at the public offering price on the cover of this prospectus supplement. The following table shows the total underwriting discounts and commissions that we are to pay to the underwriter in connection with this offering.

|                                        |     | Per Note |         |   |     | Total |            |
|:---------------------------------------|:----|:---------|--------:|:--|:----|:------|-----------:|
| Public offering price                  |     |          | 100.000 | % |     | $     | 60,000,000 |
| Underwriting discounts and commissions |     |          |   1.500 | % |     | $     |    900,000 |
| Proceeds, before expenses              |     |          |  98.500 | % |     | $     | 59,100,000 |

The expenses of the offering, not including the underwriting discounts and commissions, are estimated at $0.4 million and are payable by us. No Sales of Similar Securities We have agreed not to directly or indirectly offer, sell, short sell or otherwise dispose of, or enter into any agreement to offer, sell, short sell or otherwise dispose of, any debt securities issued or guaranteed by us or other securities convertible into or exchangeable or exercisable for debt securities issued or guaranteed by us or derivative of debt securities issued or guaranteed by us for a period of 90 days after the date of this prospectus supplement without first obtaining the written consent of B. Riley Securities, Inc. This consent may be given at any time without public notice. Listing We do not intend to list the Notes on any securities exchange or automated dealer quotation system. S-3 1

No assurance can be given as to the liquidity of, or development of a public trading market for, the Notes. If an active public trading market for the Notes does not develop, the market price and