Gladstone Investment Corporation Announces Notes Offering

Rhea-AI Summary

Gladstone Investment Corporation (NASDAQ: GAIN) announced a public offering of Notes due 2028, expected to be listed on Nasdaq under the symbol GAINO. The offering will be managed by Oppenheimer & Co., Goldman Sachs, B. Riley Securities, and Ladenburg Thalmann. Proceeds will be used to redeem 6.375% Series E Cumulative Term Preferred Stock due 2025, repay part of its revolving credit facility, and fund new investments. Investors are advised to review the preliminary prospectus filed with the SEC for detailed information.

Positive

• Plans to redeem high-interest Series E Cumulative Term Preferred Stock, potentially improving financial position.
• Offering to fund new investment opportunities, which may drive future growth.

Negative

• Dependence on market conditions and regulatory approval for successful completion of the offering.
• Forward-looking statements indicate uncertainty about future performance and outcomes.

MCLEAN, VA / ACCESSWIRE / August 11, 2021 / Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") today announced that it plans to make a public offering of Notes due 2028 (the "Notes"). The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol "GAINO" within 30 days of issuance. Oppenheimer & Co. Inc., Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for this offering. Wedbush Securities Inc. is acting as a co-manager for this offering.

The Company intends to use the net proceeds from this offering to redeem all of its outstanding 6.375% Series E Cumulative Term Preferred Stock due 2025, to repay a portion of the amount outstanding under its revolving credit facility, to fund new investment opportunities, and for other general corporate purposes.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated August 11, 2021, and the accompanying prospectus, dated July 24, 2019, which have been filed with the U.S. Securities and Exchange Commission (the "SEC"), contain this and other information about the Company and should be read carefully before investing.

The offering is being conducted as a public offering under the Company's effective shelf registration filed with the SEC (File No. 333-232124).

To obtain a copy of the preliminary prospectus supplement for this offering and the accompanying prospectus, please contact: Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 23rd Floor, New York, NY 10004 or by email at FixedIncomeProspectus@opco.com.

The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may change. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations.

Forward-Looking Statements

This press release contains statements as to the Company's intentions and expectations of the outcome of future events that are forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These statements relate to the offering of Notes and the anticipated use of the net proceeds by the Company. No assurance can be given that the transaction discussed above will be completed on the terms described, or at all. Completion of the offering on the terms described are subject to numerous conditions, many of which are beyond the control of the Company. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a description of certain risks to which the Company is or may be subject, please refer to the factors discussed under the captions "Forward-Looking Statements" and "Risk Factors" included in the Company's filings with the SEC (accessible at www.sec.gov).

CONTACT: For further information: Gladstone Investment Corporation, 703-287-5898.

SOURCE: Gladstone Investment Corporation

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FAQ

What is the latest news about Gladstone Investment Corporation's stock GAIN?

Gladstone Investment Corporation announced a public offering of Notes due 2028 to improve its capital structure and fund new investments.

What will the proceeds from GAIN's Notes offering be used for?

The proceeds will be used to redeem Series E Cumulative Term Preferred Stock, repay revolving credit, and fund new investment opportunities.

When will the Notes for GAIN be listed on Nasdaq?

The Notes are expected to be listed on Nasdaq under the symbol GAINO within 30 days of issuance.

Who are the managers for the GAIN Notes offering?

The offering is managed by Oppenheimer & Co., Goldman Sachs, B. Riley Securities, and Ladenburg Thalmann.

What should investors know before investing in GAIN's Notes?

Investors should carefully review the preliminary prospectus for risks and expenses associated with the investment.