Business
Gladstone Capital Corporation Reports Financial Results for its Third Quarter Ended June 30, 2023
MCLEAN, VA / ACCESSWIRE / July 26, 2023 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its third fiscal quarter
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / July 26, 2023 / Gladstone Capital Corporation (Nasdaq:GLAD) (the \"Company\") today announced earnings for its third fiscal quarter ended June 30, 2023. 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 Investors section of the Company's website at www.GladstoneCapital.com.Summary Information (dollars in thousands, except per share data) (unaudited):For the Quarter Ended: June 30,2023 March 31,2023 Change % Change Total investment income $22,823 $20,561 $2,262 11.0%Total expenses, net of credits (11,147)(10,929)(218)2.0 Net investment income 11,676 9,632 2,044 21.2 Net investment income per common share 0.31 0.26 0.05 19.2 Cash distribution per common share 0.24 0.225 0.015 6.7 Net realized gain (loss) 2,955 428 2,527 590.4 Net unrealized appreciation (depreciation) (2,747)1,926 (4,673)(242.6)Net increase in net assets resulting from operations 11,884 11,986 (102)(0.9)Weighted average yield on interest-bearing investments 13.6%13.1%0.5%3.8 Total invested in new and existing $70,615 $64,090 $6,525 10.2 Total repayments and net proceeds 35,230 9,761 25,469 260.9 As of: June 30,2023 March 31,2023 Change % Change Total investments, at fair value $715,324 $678,759 $36,565 5.4%Fair value, as a percent of cost 97.3%97.5%(0.2)%(0.2)Net asset value per common share $9.27 $9.19 $0.08 0.9 Third Fiscal Quarter 2023 Highlights:Portfolio Activity: Invested $53.5 million in three new portfolio companies and $17.1 million in existing portfolio companies. Received $35.2 million in repayments and net proceeds.Net Investment Income: Increased 21.2% over last quarter to $11.7 million, or $0.31 per share, driven primarily by higher interest income.Portfolio Mix/Yields: Secured first lien assets continued to be over 70% of the portfolio, at cost, while the weighted average yield on debt investments rose 50bp to 13.6%.Equity Issuance: Issued 1,415,117 shares of common stock through our at-the-market program at a weighted-average price of $9.59 per share, or 103% of net asset value, generating net proceeds of $13.3 million.Credit Facility: Extended the revolving period end date to October 2025 and extended the final maturity date to October 2027.Third Fiscal Quarter 2023 Results:Tot...