Gladstone Investment Corporation - GAIN STOCK NEWS

Gladstone Investment (Nasdaq:GAIN) has announced the sale of its portfolio company Nth Degree, Inc. to Shamrock Capital, resulting in a significant capital gain on its remaining equity position. Gladstone Investment initially acquired Nth Degree in 2015, sold a majority stake in 2019, and made additional investments in 2023. Nth Degree, based in Duluth, GA, is a leading provider of exhibit management and event services globally.

Mitchell Grant, Director of Gladstone Investment, expressed pride in supporting Nth Degree's growth. David Dullum, President of Gladstone Investment, highlighted that this marks the 31st exit from their management supported buy-outs since 2005, emphasizing their strategy of realizing gains on equity while generating strong current income from debt investments.

Gladstone Investment (Nasdaq: GAIN) has announced the election of Katharine Cornell Gorka to its Board of Directors, effective August 22, 2024. Gorka, 64, will serve in the 2027 class of Directors. She is the President of Threat Knowledge Group and chair of the Fairfax County Republican Party. Her background includes roles as a Senior Policy Advisor at the U.S. Department of Homeland Security, Press Secretary for U.S. Customs and Border Protection, and Director for Civil Society at The Heritage Foundation.

Gorka's expertise in national security threats, management, and strategic analysis is expected to add value to GAIN's Board by expanding its knowledge base and diversity of perspectives. She holds a degree from the University of North Carolina at Chapel Hill and an M.Sc. in Economics from the London School of Economics.

Gladstone Investment (Nasdaq:GAIN) reported financial results for its first fiscal quarter ended June 30, 2024. Key highlights include:

- Total investment income decreased 6.2% to $22.2 million
- Net investment income increased 133.2% to $12.4 million ($0.34 per share)
- Net assets decreased 3.1% to $477.4 million ($13.01 per share)
- Paid $0.24 per share in distributions to common stockholders
- Weighted-average yield on interest-bearing investments increased to 14.5%

The company experienced a net decrease in net assets resulting from operations of $6.5 million, primarily due to $18.9 million of net unrealized depreciation on investments. Total expenses decreased 46.7%, mainly due to lower capital gains-based incentive fees. The Board declared monthly distributions of $0.08 per share for July, August, and September 2024.

Gladstone Investment (NASDAQ:GAIN) has expanded its investment in Nocturne Luxury Villas through the acquisition of Grand Cayman Villas and Condos (GCVC). The company invested $18.5 million in secured first lien debt to complete the transaction. GCVC, founded in 2006, manages over 180 exclusive properties in Grand Cayman, ranging from luxury villas to one-bedroom condos. This marks Nocturne's seventh acquisition, bringing Gladstone's total investment in Nocturne to $88.2 million at cost. The acquisition aims to diversify Nocturne's destination experiences and enhance its offerings for high-end travelers, particularly along the prime 7 Mile Beach coastline.

Gladstone Investment (Nasdaq: GAIN) has announced its upcoming earnings call and webcast for the first fiscal quarter ended June 30, 2024. The event is scheduled for Tuesday, August 6, 2024, at 8:30 a.m. ET. Investors can participate via webcast or by calling (866) 424-3437. A conference call replay will be available until August 13, 2024, by dialing (877) 660-6853 with playback conference number 13746755. The webcast will also be archived on the company's website for later viewing.

Gladstone Investment is a publicly traded business development company that focuses on making secured debt and equity investments in lower middle market businesses in the United States, particularly in connection with acquisitions, changes in control, and recapitalizations.

Gladstone Investment (Nasdaq:GAIN) announced monthly cash distributions of $0.08 per share for July, August, and September 2024. The dividends will be payable on July 31, August 30, and September 30, respectively. The total cash distribution for the quarter will be $0.24 per share. Gladstone also offers a dividend reinvestment plan (DRIP) to its common stockholders.

Additionally, Gladstone plans to report its first fiscal quarter earnings for the period ended June 30, 2024, after market close on August 5, 2024. A conference call to discuss the earnings will be held on August 6, 2024, at 8:30 a.m. Eastern Time, with a replay available until August 13, 2024. The conference call can be accessed online at the company's website.

Gladstone Investment (NASDAQ: GAIN) reported its financial results for the fourth quarter and fiscal year ended March 31, 2024. Total investment income increased by 2.5% for the quarter and 7.1% for the year. Net investment income per weighted-average common share decreased by 46.4% for the quarter and 43.2% for the year. Adjusted net investment income per weighted-average common share decreased by 7.7% for the quarter and 9.1% for the year. Net asset value per common share increased by 3.2% for the quarter and 2.6% for the year. Significant events included portfolio activity, distributions, dividends, ATM program activity, and financing activity. Notable events for the quarter included a realized loss on investments and amendments to the credit facility.

Gladstone Investment (Nasdaq:GAIN) announces its Fourth Fiscal Quarter Ended March 31, 2024 Earnings Call & Webcast on May 9, 2024. The company is a publicly traded business development company focusing on investments in lower middle market businesses in the U.S.