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Gladstone Capital Corporation Reports Financial Results for its First Quarter Ended December 31, 2019
MCLEAN, Va., Feb. 05, 2020 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (Nasdaq: GLAD) (the “Company”) today announced earnings for its first fiscal
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, Va., Feb. 05, 2020 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (Nasdaq: GLAD) (the “Company”) today announced earnings for its first fiscal quarter ended December 31, 2019. Please read the Company’s Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website at www.sec.gov, and the investor relations section of the Company’s website at www.GladstoneCapital.com. \n Summary Information (dollars in thousands, except per share data) (unaudited): For the Quarter Ended: December 31, 2019 September 30, 2019 Change % Change Total investment income $12,159 $12,718 $(559)(4.4)%Total expenses, net of credits (5,742)(6,354)612 (9.6)Net investment income 6,417 6,364 53 0.8 Net investment income per common share 0.21 0.21 — — Cash distribution per common share 0.21 0.21 — — Net realized gain (loss) (5,841)8,980 (14,821)(165.0)Net unrealized appreciation (depreciation) 122 (9,953)10,075 (101.2)Net increase (decrease) in net assets resulting from operations 698 5,391 (4,693)(87.1) Weighted average yield on interest-bearing investments 11.3%12.5%(1.2)%(9.6)Total invested $42,535 $24,743 $17,792 71.9 Total repayments and net proceeds 12,631 28,827 (16,196)(56.2) As of: December 31, 2019 September 30, 2019 Change % Change Total investments, at fair value $429,008 $402,875 $26,133 6.5%Fair value, as a percent of cost 94.4%94.0%0.4%0.4 Net asset value per common share $8.08 $8.22 $(0.14)(1.7) First Fiscal Quarter 2020 Highlights: Portfolio Activity: Invested $38.0 million in two new portfolio companies and $4.5 million in existing portfolio companies. Received $12.6 million in repayments and net proceeds.Debt Issuance: Completed a public debt offering of $38.8 million 5.375% Notes due 2024, inclusive of the overallotment, for net proceeds of approximately $37.5 million.Equity Issuance: Issued 705,031 shares of common stock at a weighted-average price of $10.37 per share, or 128% of NAV, through our at-the-market program, generating net proceeds of $7.2 million. Distributions and Dividends: Maintained our monthly common stock distribution of $0.07 per share. First Fiscal Quarter 2020 Results: Interest income decreased by $0.4 million, or 3.1%, driven primarily by the collection of past-due interest totaling $0.9 million upon the exit of one portfolio com...