Company: GAINI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001321741-25-000018
Chunk: 34

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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ated Statementsof Assets and LiabilitiesValued Using Level 3 InputsJune 30, 2025March 31, 2025Non-Control/Non-Affiliate InvestmentsSecured first lien debt$346,601 $300,751 Secured second lien debt93,340 92,964 Preferred equity213,075 200,606 Common equity/equivalents55,341 54,268 Total Non-Control/Non-Affiliate Investments708,357 648,589 Affiliate InvestmentsSecured first lien debt210,088 213,240 Secured second lien debt— 10,616 Preferred equity112,922 101,557 Common equity/equivalents— — Total Affiliate Investments323,010 325,413 Control InvestmentsSecured first lien debt368 343 Secured second lien debt— — Preferred equity— — Common equity/equivalents— — Total Control Investments368 343 Total investments at fair value using Level 3 inputs$1,031,735 $974,345 

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In accordance with ASC 820, the following table provides quantitative information about our investments valued using Level 3 fair value measurements as of June 30, 2025 and March 31, 2025. The table below is not intended to be all-inclusive, but rather provides information on the significant Level 3 inputs as they relate to our fair value measurements. The weighted-average calculations in the table below are based on the principal balances for all debt-related calculations and on the cost basis for all equity-related calculations for the particular input.Quantitative Information about Level 3 Fair Value MeasurementsFair Value as ofValuationTechnique/MethodologyUnobservableInputRange / Weighted-Average as ofJune 30, 2025March 31, 2025June 30, 2025March 31, 2025Secured first lien debt$557,057 $514,334 TEVEBITDA multiple3.7x – 8.0x / 6.0x3.7x – 7.9x / 6.0xEBITDA$408 – $25,038 /$11,738$1,208 – $25,038 / $12,162Revenue multiple0.3x – 0.6x / 0.4x0.3x – 0.6x / 0.