Company: GAINI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001321741-25-000022
Chunk: 173

Company: GLADSTONE INVESTMENT CORPORATION\DE
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 173
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2025$— Borrowings153,300 Repayments(55,600)Unrealized appreciation353 Fair value at September 30, 2025$98,053 

Fair Value Measurements of Borrowings Using Significant Unobservable Inputs (Level 3)Reported in Consolidated Statements of Assets and LiabilitiesCredit FacilityThree Months Ended September 30, 2024:Fair value at June 30, 2024$63,700 Borrowings31,500 Repayments(86,300)Fair value at September 30, 2024$8,900 Six Months Ended September 30, 2024Fair value at March 31, 2024$67,000 Borrowings47,800 Repayments(105,900)Fair value at September 30, 2024$8,900 

The fair value of the collateral under our Credit Facility was $1.0 billion and $764.7 million as of September 30, 2025 and March 31, 2025, respectively.

Notes Payable5.00% Notes due 2026In March 2021, we completed a public offering of 5.00% Notes due 2026 with an aggregate principal amount of $127.9 million (the “5.00% 2026 Notes”), which resulted in net proceeds of approximately $123.8 million after deducting underwriting discounts, commissions and offering costs borne by us. The 5.00% 2026 Notes are traded under the ticker symbol “GAINN” on the Nasdaq Global Select Market (“Nasdaq”). The 5.00% 2026 Notes will mature on May 1, 2026 and may be redeemed in whole or in part at any time or from time to time at the Company’s option. The 5.00% 2026 Notes bear interest at a rate of 5.00% per year, which is payable quarterly in arrears.The indenture relating to the 5.00% 2026 Notes contains certain covenants, including (i) an inability to incur additional debt or issue additional debt or preferred securities unless the Company’s asset coverage meets the threshold specified in the 1940 Act after such borrowing, (ii) an inability to declare any dividend or distribution (except a dividend payable in our stock) on a class of our capital stock or to purchase shares of our capital stock unless the Company