Company: GAINI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001321741-25-000018
Chunk: 145

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 145
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 million. No fees were received by Gladstone Securities from our portfolio companies during the three months ended June 30, 2024.Investment in Affiliated FundIn December 2024, we invested in Gladstone Alternative, one of our affiliated funds, that is a registered, non-diversified, closed-end management investment company that operates as an interval fund. The fair value of the investment in Gladstone Alternative will be excluded from the average total assets subject to base management fee for the purposes of calculating the base management fee we pay to the Adviser.

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Related Party Fees DueAmounts due to related parties on our accompanying Consolidated Statements of Assets and Liabilities were as follows:As of June 30,As of March 31,20252025Base management and loan servicing fee due to Adviser, net of credits$1,696 $2,027 Incentive fee due to Adviser(A)39,115 41,663 Other due to Adviser162 126 Total fees due to Adviser40,973 43,817 Fee due to Administrator912 767 Total related party fees due$41,885 $44,584 (A)Includes a capital gains-based incentive fee of $39.1 million and $39.3 million as of June 30, 2025 and March 31, 2025, respectively, recorded in accordance with GAAP requirements, and which was not contractually due under the terms of the Advisory Agreement. Refer to Note 4 — Related Party Transactions — Transactions with the Adviser — Incentive Fee for additional information, including capital gains-based incentive fee payments made.Co-investment expenses as of both June 30, 2025 and March 31, 2025 were $0.1 million. These amounts are generally settled in the quarter subsequent to being incurred and have been included in Other assets, net on the accompanying Consolidated Statements of Assets and Liabilities.

NOTE 5.  BORROWINGS

Revolving Line of CreditAs of June 30, 2025, our Credit Facility had a total commitment amount of $270.0 million with an "accordion" feature that permits us to increase the size of the facility to $300.0 million. The Credit Facility has a revolving period end date of October 30, 2026 and a final maturity date of October 30, 2028 (at which time all principal and interest will be due and payable if the Credit Facility is not