Gladstone Investment Corporation Prices Public Offering of 4.875% Notes due 2028

About this update from Gladstone Investment Corporation - Business Development Company

[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / August 11, 2021 / Gladstone Investment Corporation (Nasdaq:GAIN) (the \"Company\") today announced that it priced a public offering of $117.0 million aggregate principal amount of 4.875% Notes due 2028 (the \"Notes\") on August 11, 2021. The Notes will mature on November 1, 2028, and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after November 1, 2023. The Notes will bear interest at a rate of 4.875% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning November 1, 2021. The Company also granted the underwriters a 30-day option to purchase up to an additional $17.6 million in aggregate principal amount of Notes to cover overallotments, if any. The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol \"GAINZ\" within 30 days of issuance. Oppenheimer & Co.Inc., Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for this offering. Wedbush Securities Inc. is acting as a co-manager for this offering.The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about August 18, 2021.The Company intends to use the net proceeds from this offering to redeem all of its outstanding 6.375% Series E Cumulative Term Preferred Stock due 2025, to repay a portion of the amount outstanding under its revolving credit facility, to fund new investment opportunities, and for other general corporate purposes.Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated August 11, 2021, and the accompanying prospectus, dated July 24, 2019, 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 being conducted as a public offering under the Company's effective shelf registration filed with the SEC (File No. 333-232124).To obtain a copy of the preliminary prospectus supplement for this offering and the accompanying prospectus, please contact: Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Dep...

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