Gladstone Investment Corporation filings document the disclosure record of a business development company investing in secured debt and equity of lower-middle-market U.S. businesses. Its reports and current-event filings cover operating results, net asset value, portfolio investment activity, distributions, risk factors, and the economics of its closed-end investment structure.
Recent filings also record material agreements, underwriting arrangements, supplemental indentures, listed note issuances, redemptions, and exchange registration matters for the company’s common stock and multiple note classes. Governance disclosures include executive transition reporting, board oversight matters, shareholder voting topics, and capital-structure updates involving Gladstone Management Corporation and related service arrangements.
Gladstone Investment Corporation, an externally managed business development company, reports an investment portfolio with fair value of $1,309,248 (in thousands) as of March 31, 2026. The portfolio is 70.8% debt and 29.2% equity at cost, focused on lower middle market U.S. businesses.
Investments span 29 portfolio companies across 16 industries and are concentrated in machinery, services, and aerospace and defense. The five largest holdings total $582.6 million, or 44.5% of portfolio fair value. The U.S. South represents 49.6% of portfolio fair value.
The company remains a BDC and regulated investment company, targeting 70% debt and 30% equity over time, and uses a 2.0% base management fee plus incentive fees for its adviser. Asset coverage on senior indebtedness was 213.8%, above the 150% regulatory minimum, and management highlights risks from market conditions, interest rates, and illiquidity of private investments.
Gladstone Investment Corporation is soliciting proxies for its 2026 Annual Meeting of Stockholders, to be held virtually on August 6, 2026. Shareholders of record as of June 10, 2026 may vote on two items: the election of two director nominees and Proposal 2, which would authorize the company, with subsequent Board approval, to issue and sell up to 25% of outstanding common stock (per sale) at prices below then-current net asset value per share for a one-year period.
The Proxy explains voting procedures, quorum and broker non-vote treatment, Board and committee composition, governance practices, and potential dilutive effects of below-NAV offerings with illustrative dilution tables. The Board unanimously recommends votes FOR both director nominees and FOR Proposal 2.
Gladstone Investment Corporation notified Nasdaq of the removal of its 5.00% Notes due 2026 from listing and registration on the Nasdaq Stock Market. Nasdaq states it complied with Exchange rules under 17 CFR 240.12d2-2 and the issuer complied with the Exchange's withdrawal requirements; the notice is signed by Tara Petta, AVP.
Gladstone Investment Corporation executive Erika P. Highland, an Executive Vice President, filed an initial Form 3 reporting her status as an officer of the company. The filing reports no transactions, no derivative positions, and no share holdings in this initial statement of beneficial ownership.
Gladstone Investment Corporation executive Christopher James Lee has filed an initial ownership report on Form 3 as an Executive Vice President of the company, which trades under the ticker GAIN. The data provided shows no reported transactions or derivative positions in this filing.
Gladstone Investment Corporation executive John Sateri, the company’s Chief Investment Officer, has filed an initial statement of beneficial ownership as a reporting person. This Form 3 filing lists him as an officer but shows no reported transactions or derivative holdings at this time.
Gladstone Investment Corporation announced a leadership succession in which founder David Gladstone has stepped down as Chief Executive Officer, effective March 20, 2026, while remaining Chairman of the Board and a member of the investment committee, as well as Chairman, CEO, and President of its affiliated adviser.
David A.R. Dullum, the company’s President since 2008, has been appointed CEO effective immediately, and will retain his President role during a transition period. John Sateri, a long-tenured executive and investment committee member, has been named Chief Investment Officer for the company and related Gladstone entities.
The Board also promoted Erika Highland to Executive Vice President, with her appointment as President of the company effective October 1, 2026, after a transition period. The company notes that its officers are compensated by its external adviser and administrator rather than directly by the company, and emphasizes that these promotions arise from a strategic succession plan aimed at continuity, stability, and alignment with corporate governance best practices, including separating the Chairman and CEO roles.
Gladstone Investment Corporation entered into a Seventh Supplemental Indenture to issue, offer and sell up to $115.0 million aggregate principal amount of its 7.125% Notes due 2031. The notes mature on May 1, 2031 and pay 7.125% interest quarterly starting May 1, 2026.
The notes are unsecured obligations ranking equally with Gladstone Investment’s other unsecured, unsubordinated debt and are effectively and structurally subordinated to secured debt and subsidiary obligations. The notes are redeemable at par on or after May 1, 2028.
Net proceeds are intended to repay a portion of the company’s credit facility, fund new investment opportunities in portfolio companies consistent with its objectives, and for other general corporate purposes, with the company planning to re-borrow under the facility as opportunities arise.
Gladstone Investment Corporation is offering $100,000,000 aggregate principal amount of 7.125% Notes due 2031. These senior unsecured notes pay interest quarterly on February 1, May 1, August 1 and November 1, beginning May 1, 2026, and mature on May 1, 2031.
The notes rank equally with Gladstone Investment’s existing unsecured notes and are structurally subordinated to borrowings at subsidiaries, including its revolving credit facility. They may be redeemed at par, in whole or in part, on or after May 1, 2028. Net proceeds of approximately $96.7 million are expected to be used to repay a portion of the company’s credit facility, fund new investments consistent with its BDC strategy, and for general corporate purposes.
The notes will be issued in $25 denominations and Gladstone Investment intends to list them on the Nasdaq Global Select Market under the symbol “GAING”, where they are expected to trade "flat," without separate accrued-interest payments in secondary trades.