Welcome to our dedicated page for Gladstone Investment Corporation news (Ticker: GAIN), a resource for investors and traders seeking the latest updates and insights on Gladstone Investment Corporation stock.
Gladstone Investment Corporation (NASDAQ: GAIN) is a publicly traded business development company (BDC) that specializes in providing both equity and debt capital to mature, lower middle-market companies in the United States. Operating as part of the Gladstone Companies, GAIN focuses on investing in businesses with strong fundamentals and solid management teams. The company's primary objective is to offer shareholders current yield through monthly dividends and the potential for capital appreciation.
As an externally managed, closed-end, non-diversified management investment company, GAIN supports private businesses by facilitating acquisitions, changes in control, and recapitalizations. The company offers a unique value proposition, providing all necessary capital without the constraints of partnership end-of-life deadlines. This allows GAIN to tailor its investments to meet the long-term needs of its portfolio companies.
GAIN's investment strategy encompasses both debt and equity securities, aiming to generate current income and long-term capital appreciation. Recent significant events include:
- October 24, 2023: The board declared an additional supplemental cash distribution of $0.88 per share for December 2023.
- October 25, 2023: GAIN supported portfolio company Specialized Fabrication Equipment Group LLC in acquiring CPMT Holdings Corp., enhancing its product offerings and management strength.
- November 1, 2023: The company reported earnings for its second fiscal quarter, highlighting a significant improvement in adjusted net investment income.
- January 9, 2024: The board announced monthly cash distributions and planned to report third fiscal quarter earnings.
- February 6, 2024: GAIN released third fiscal quarter earnings, showing continued financial strength.
- April 9, 2024: The board declared monthly cash distributions and planned to report year-end earnings.
- May 8, 2024: The company reported earnings for its fourth quarter and fiscal year, reflecting robust financial performance and strategic achievements.
GAIN's approach of providing both debt and equity financing enhances its ability to close transactions swiftly and effectively. The company's flexibility and patient capital make it a valuable partner for businesses aiming for sustained growth. For more details, visit their official website.
Gladstone Investment (NASDAQ:GAIN) announced the acquisition of Nielsen-Kellerman, Inc. on December 19, 2024. The transaction involves both equity capital and senior secured debt provided by Gladstone Investment. Nielsen-Kellerman specializes in designing and manufacturing rugged, waterproof environmental measurement and sports performance instruments for outdoor enthusiasts, competitive athletes, and technical professionals.
The acquisition aligns with Gladstone's investment strategy of acquiring companies with strong brands and experienced management teams. The company sees potential for growth through expanding market reach and enhancing product offerings. This buyout aims to create long-term value for Gladstone Investment's shareholders through Nielsen-Kellerman's established market position and innovation capabilities.
Gladstone Investment (Nasdaq:GAIN) has announced a definitive agreement to acquire Ricardo Defense, Inc. (RDI) in partnership with Proteus Enterprises The transaction, signed on December 13, 2024, is expected to close by December 31, 2024. Gladstone Investment will provide both equity and senior secured debt financing for the acquisition.
RDI, headquartered in Troy, Michigan, specializes in engineering services and systems integration, focusing on Department of Defense fleet modernization and maintenance solutions. The acquisition is expected to generate both dividend income for shareholders and long-term capital appreciation through capital gains.
Gladstone Investment (NASDAQ:GAIN) has priced a public offering of $110.0 million in 7.875% Notes due 2030. The Notes will mature on February 1, 2030, with an option for early redemption after February 1, 2027. Interest will be paid quarterly starting February 1, 2025. The company granted underwriters a 30-day option to purchase an additional $16.5 million in Notes for overallotments.
The Notes will be listed on Nasdaq Global Select Market under symbol 'GAINI'. Proceeds will be used to repay revolving credit facility debt, fund new investments, and for general corporate purposes. The offering is expected to close around December 17, 2024.
Gladstone Investment (Nasdaq:GAIN) has announced plans for a public offering of Notes due 2030. The Notes are expected to be listed on the Nasdaq Global Select Market under the symbol 'GAINI' within 30 days of issuance.
The offering will be managed by joint book-runners Oppenheimer & Co. Inc., B. Riley Securities, Inc., Lucid Capital Markets, and Piper Sandler & Co, with InspereX , Janney Montgomery Scott and Wedbush Securities Inc. serving as co-managers.
The company plans to use the proceeds to repay a portion of its revolving credit facility, fund new investment opportunities, and for general corporate purposes. The offering is being conducted under the company's effective shelf registration with the SEC (File No. 333-277452).
Gladstone Investment (NASDAQ:GAIN) has announced its partnership with Scott Dunlop in acquiring Pyrotek Special Effects on November 22, 2024. Gladstone provided equity and senior secured debt for the transaction. Pyrotek is a leading special effects services provider for the live entertainment industry, serving major global music, entertainment, sports, and media brands. Scott Dunlop will continue as President and CEO. The acquisition aims to generate both dividend income for shareholders and long-term capital appreciation through capital gains.
Gladstone Investment (GAIN) announced the retirement of Terry Lee Brubaker as Chief Operating Officer, effective December 2, 2024. Brubaker will also step down from his positions at Gladstone Management and Gladstone Administration, Michael LiCalsi, the Company's General Counsel and Secretary, will assume additional operational responsibilities while a national search for a Chief Investment Officer is conducted to handle Brubaker's investment committee duties.
Gladstone Investment (GAIN) reported financial results for Q2 2024. Total investment income increased 1.7% to $22.6 million, while net investment income decreased 41.3% to $7.3 million ($0.20 per share). The company recorded a significant realized gain of $42.3 million, primarily from the exit of Nth Degree Investment. Net asset value per share decreased to $12.49 from $13.01 in the previous quarter. The company declared distributions of $0.08 per share monthly and an additional special distribution of $0.70 per share paid in October 2024.
Gladstone Investment (NASDAQ:GAIN) has announced its Second Fiscal Quarter Ended September 30, 2024 Earnings Call & Webcast scheduled for Friday, November 8, 2024, at 8:30 a.m. ET. The event will be accessible via webcast at the provided link and by phone at (866) 424-3437. A conference call replay will be available for one hour after the call until November 15, 2024, by dialing (877) 660-6853 with playback conference number 13748840. The call will also be archived on www.gladstoneinvestment.com.
Gladstone Investment (Nasdaq:GAIN) has announced monthly cash distributions of $0.08 per share for common stockholders in October, November, and December 2024. The total distribution for the quarter amounts to $0.24 per share. The company offers a dividend reinvestment plan (DRIP) for its common stockholders.
Additionally, Gladstone Investment plans to report earnings for its second fiscal quarter ended September 30, 2024, after the stock market closes on Thursday, November 7, 2024. A conference call to discuss the earnings results is scheduled for Friday, November 8, 2024, at 8:30 a.m. Eastern Time. Investors can access the call by dialing (866) 424-3437, and a replay will be available until November 15, 2024, by dialing (877) 660-6853 with playback conference number 13748840.
Gladstone Investment (Nasdaq:GAIN) has announced an update to the payment date for its $0.70 supplemental distribution to common stockholders. Due to the October 14, 2024 federal holiday, the distribution will now be paid on Tuesday, October 15, 2024. The record date for this supplemental distribution remains October 4, 2024.
The company offers a dividend reinvestment plan (DRIP) to its common stockholders. Investors can find more information about the DRIP on the company's website at www.gladstoneinvestment.com.
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