Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 113

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 113
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 lien debt and $21.1 million of preferred equity. Global GRAB, headquartered in Franklin, Tennessee, is a provider of turnkey perimeter security and hostile vehicle mitigation systems, serving various government and commercial organizations.

•In September 2025, we entered into a new $20.0 million secured first lien term loan with J.R. Hobbs Co. – Atlanta, LLC ("J.R. Hobbs"), restructuring our previously outstanding first lien term loans and line of credit with an aggregate total cost basis of $49.9 million, which resulted in a realized loss of $29.9 million.

Distributions and Dividends

•In October 2025, our Board of Directors declared the following monthly cash distributions to common stockholders:

Record DatePayment DateDistribution per Common ShareOctober 24, 2025October 31, 2025$0.08 November 17, 2025November 26, 20250.08 December 22, 2025December 31, 20250.08 Total for the Quarter:$0.24 

47

RESULTS OF OPERATIONS

Comparison of the Three Months Ended September 30, 2025 to the Three Months Ended September 30, 2024

For the Three Months Ended September 30,20252024Change% ChangeINVESTMENT INCOMEInterest income$22,669 $20,996 $1,673 8.0 %Dividend and success fee income2,610 1,569 1,041 66.3 %Total investment income25,279 22,565 2,714 12.0 %EXPENSESBase management fee5,457 4,447 1,010 22.7 %Loan servicing fee2,932 2,194 738 33.6 %Incentive fee5,207 2,232 2,975 133.3 %Administration fee520 567 (47)(8.3)%Interest expense9,631 6,399 3,232 50.5 %Amortization of deferred financing costs and discounts910 629 281 44.7 %Other913 1,669 (756)(45.3)%Expenses before credits from Adviser25,570 18,137 7,433 41.0 %Credits to fees from Adviser(4,570)(2,863)(1,