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Gladstone Capital Corporation Announces Offering of 6.25% Series A Cumulative Redeemable Preferred Stock
MCLEAN, VA / ACCESSWIRE / May 31, 2023 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced that it has filed a prospectus supplement
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / May 31, 2023 / Gladstone Capital Corporation (Nasdaq:GLAD) (the \"Company\") today announced that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (\"SEC\") for a continuous public offering of up to 6,000,000 shares (the \"Offering\") of its newly-designated 6.25% Series A Cumulative Redeemable Preferred Stock (the \"Series A Preferred Stock\") at an offering price of $25.00 per share. The Company expects to receive up to $150.0 million in gross proceeds and approximately $131.25 million in net proceeds, after payment of dealer manager fees and selling commissions and estimated expenses of the offering payable by the Company, assuming all shares of the Series A Preferred Stock are sold in the Offering. Gladstone Securities, LLC, an affiliate of the Company (\"Gladstone Securities\"), will serve as the Company's exclusive dealer manager in connection with the Offering. The Series A Preferred Stock is being offered by Gladstone Securities on a \"reasonable best efforts\" basis pursuant to a Dealer Manager Agreement, dated as of May 31, 2023, entered into between the Company and Gladstone Securities.The offering of Series A Preferred Stock will terminate on the date that is the earlier of (1) December 31, 2026 (unless earlier terminated or extended by the Company's Board of Directors) and (2) the date on which all 6,000,000 shares of Series A Preferred Stock offered in the Offering are sold. There is currently no public market for shares of Series A Preferred Stock.Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The prospectus supplement, dated May 31, 2023, and the accompanying prospectus, dated December 22, 2021, 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 currently being conducted as a public offering under the Company's effective shelf registration statement, filed with the SEC (File No. 333- 261398), which became effective on December 22, 2021. To obtain a copy of the prospectus supplement and the related base prospectus for this offering, please contact: Gladstone Securities, LLC, via email at glad.series.a@gladstonesecuriti...