Gladstone Investment plans to offer $25-par notes due 2028

By Mary-Katherine Stinson

Lexington, Ky., May 23 – Gladstone Investment Corp. plans to price an offering of $25-par notes due Aug. 1, 2028, according to multiple filings with the Securities and Exchange Commission.

The notes will be callable at the company’s option at par plus interest on or after Aug. 1, 2025.

Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are acting as joint bookrunners for the offering with Gladstone Securities, LLC, Piper Sandler & Co. and Wedbush Securities Inc. as co-managers.

UMB Bank, NA is the trustee, security registrar and paying agent.

Kirkland & Ellis LLP will advise Gladstone in legal matters, while Dechert LLP will act as counsel for the bookrunners.

Proceeds will be used to repay a portion of the amount outstanding under its credit facility, to fund new investment opportunities and for other general corporate purposes. As of May 22, there was approximately $49.8 million of debt outstanding under the facility.

The company expects to list the notes on the Nasdaq Global Select Market under the symbol “GAINL.”

Gladstone is an externally managed closed-end non-diversified management investment company based in McLean, Va.

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