Gladstone Investment Corporation - GAIN STOCK NEWS

Gladstone Investment Corporation (NASDAQ:GAIN) announced a public offering of Notes due 2026, expected to be listed on the Nasdaq Global Select Market as 'GAINN'. The offering aims to use proceeds to redeem Series D Cumulative Term Preferred Stock, repay revolving credit, and fund new investments. Joint book-running managers include Janney Montgomery Scott LLC and BTIG, LLC, among others. Investors should evaluate the risks before investing. The offering is under an effective shelf registration with the SEC, and the preliminary prospectus provides essential details.

Bassett Creek Services, Inc. has appointed Tom Dubnicka as Chief Financial Officer, bringing over 20 years of executive experience from various business service companies. The executive team now comprises six leaders with nearly 150 years of experience. Additionally, the company has created a new role for Vice President of Finance and Integration, filled by Jim Black, to enhance acquisitions and growth initiatives. CEO Daniel O'Brien highlighted these personnel investments as a commitment to supporting portfolio brands and driving growth.

Gladstone Investment Corporation (Nasdaq: GAIN) has declared monthly cash distributions of $0.07 per share for common stock from January to March 2021, totaling $0.21 for the quarter. Preferred stockholders will receive distributions of $0.13020833 and $0.1328125 for Series D and E Term Preferred Stock, respectively, also covering January to March 2021. Additionally, the Company plans to report its third fiscal quarter earnings on February 2, 2021, followed by a conference call on February 3.

Gladstone Investment Corporation (NASDAQ: GAIN) announced the sale of its portfolio company, Frontier Packaging, Inc., realizing significant gains from both debt repayment and equity investment. This sale marks a successful exit for Gladstone, which had partnered with Frontier's management since 2012. Frontier, a leader in packaging materials for the fish processing industry, has shown sustained growth. Gladstone emphasizes its strategy in backing quality businesses with strong management teams, contributing to shareholder value through stock appreciation and dividend growth.

Gladstone Investment Corporation (NASDAQ: GAIN) announced a recapitalization of its portfolio company, Old World Christmas, through a secured term loan. This transaction yielded significant equity proceeds for Gladstone and provided Old World with increased cash for future investments. Established in 2014, Old World is a leader in figural glass Christmas ornaments. Senior executives expressed optimism about the company's future and its strong performance in 2020. Gladstone's strategy focuses on generating income and capital gains for shareholders.

Gladstone Investment Corporation (NASDAQ: GAIN) reported earnings for Q2 FY2020 ending September 30. Total investment income rose to $11.8 million, a 10.6% increase from $10.7 million in Q1. Net investment income increased by 4.7% to $4.4 million. However, net realized gains fell by 17.5% to $621,000, and cash distributions decreased by 28.6%. The company's total investments at fair value reached $608.96 million, showing an 8.5% increase from June 30. A conference call will be held on November 4 to discuss these results further.

Gladstone Investment Corporation (NASDAQ: GAIN) announced the appointment of two Managing Directors, Kyle Largent and Peter Roushdy, as Executive Vice Presidents. Largent has been with the company since 2006, previously serving at National Capital and Friedman Billings Ramsey, holding an MBA from Georgetown University. Roushdy joined in 2011, having a background in investment banking at Wells Fargo, with a BA in Economics from Davidson College. These appointments aim to bolster leadership as the firm continues its investments in the lower middle market.

Gladstone Investment Corporation (NASDAQ: GAIN) has declared monthly cash distributions of $0.07 per share for common stock for October, November, and December 2020. Additionally, the Series D Term Preferred Stock will receive $0.13020833 per share, and the Series E Term Preferred Stock will receive $0.1328125 per share during the same months. The total cash distribution for the quarter per common share will be $0.21. Earnings for the second fiscal quarter ended September 30, 2020, will be reported on November 3, 2020, followed by a conference call on November 4, 2020.

Gladstone Investment Corporation (GAIN) adjourned its 2020 Annual Meeting of Stockholders to August 20, 2020, to gather more votes for a quorum. President David Dullum expressed gratitude for stockholder support and urged those who haven't voted to do so promptly. Stockholders are encouraged to read the detailed proxy statement filed with the SEC on June 15, 2020, before voting. The proxy and annual report are available online.