Company: GAINI
Filing Date: 2025-05-13
Form Type: 10-K
Source: 0001321741-25-000010
Chunk: 10

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-13
Form: 10-K
Item: Item 8
Chunk 10
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445,830 OPERATIONSNet investment income$28,095 $21,777 $37,000 Net realized gain on investments63,184 30,256 10,753 Net unrealized (depreciation) appreciation of investments(25,960)33,301 (12,235)Net unrealized (appreciation) depreciation of other— (29)29 Net increase in net assets from operations65,319 85,305 35,547 DISTRIBUTIONS(A)Distributions to common stockholders from net investment income ($0.64, $1.08, and $0.92 per share, respectively)(23,480)(37,509)(30,833)Distributions to common stockholders from cumulative realized gains ($1.02, $1.12, and $0.49 per share, respectively)(37,471)(38,552)(16,217)Net decrease in net assets from distributions(60,951)(76,061)(47,050)CAPITAL ACTIVITYIssuance of common stock2,029 44,508 5,492 Discounts, commissions, and offering costs for issuance of common stock(24)(783)(77)Net increase in net assets from capital activity2,005 43,725 5,415 TOTAL INCREASE (DECREASE) IN NET ASSETS6,373 52,969 (6,088)NET ASSETS, END OF YEAR(A)$499,084 $492,711 $439,742 

(A)Refer to Note 8 — Distributions to Common Stockholders in the accompanying Notes to Consolidated Financial Statements for additional information.

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS.76

GLADSTONE INVESTMENT CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN THOUSANDS)

Year Ended March 31,202520242023CASH FLOWS FROM OPERATING ACTIVITIESNet increase in net assets resulting from operations$65,319 $85,305 $35,547 Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:Purchase of investments(221,217)(183,924)(133,756)Principal repayments of investments123,600 28,000 52,300 Net proceeds from the sale and recapitalization of