Company: GAINI
Filing Date: 2025-05-13
Form Type: 10-K
Source: 0001321741-25-000010
Chunk: 1

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-05-13
Form: 10-K
Item: Item 7A
Chunk 1
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5 million, respectively. As of March 31, 2024, the 5.00% 2026 Notes, 4.875% 2028 Notes and 8.00% 2028 Notes had outstanding principal balances of $127.9 million, $134.6 million and $74.8 million, respectively.

Advances under the Credit Facility generally bear interest at 30-day Term SOFR, subject to a floor of 0.35%,with a SOFR credit spread adjustment of 10 basis points, plus a margin of 3.15% per annum until October 30, 2026, with the margin then increasing to 3.40% for the period from October 30, 2026 to October 30, 2027, and increasing further to 3.65% thereafter. The Credit Facility has an unused commitment fee on the daily unused commitment amount of 0.50% per annum if the daily unused commitment amount is less than or equal to 50% of the total commitment amount, 0.75% per annum if the daily unused commitment amount is greater than 50% but less than or equal to 65% of the total commitment amount, and 1.00% per annum if the daily unused commitment amount is greater than 65% of the total commitment amount. 

To illustrate the potential impact of changes in interest rates, we have performed the following hypothetical analysis, which assumes that our balance sheet and interest rates remain constant as of March 31, 2025 and no further actions are taken to alter our existing interest rate sensitivity.

Basis Point ChangeIncrease (Decrease)in Interest IncomeIncrease (Decrease) in Interest ExpenseNet Increase (Decrease) in Net Assets Resulting from OperationsUp 300 basis points$16,112 $— $16,112 Up 200 basis points$10,047 $— $10,047 Up 100 basis points$4,260 $— $4,260 Down 100 basis points$(3,192)$— $(3,192)Down 200 basis points$(5,739)$— $(5,739)Down 300 basis points$(6,998)$— $(6,998)

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Although management believes that this analysis is indicative of our existing interest rate sensitivity, it does not adjust for potential changes in credit quality, size and composition of our loan portfolio on the balance sheet and other