Chicago, Aug. 11 – Gladstone Investment Corp. sold $117 million of 4.875% $25-par notes due Nov. 1, 2028 in a public offering on Wednesday, according to a press release.
The notes will be callable on or after Nov. 1, 2023.
Oppenheimer & Co. Inc., Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are the joint bookrunners.
The underwriters have a 30-day option to purchase an additional $17.6 million of the notes to cover over-allotments.
Proceeds will be used to redeem the company’s series E term preferred stock, to repay a portion of the amount outstanding under its credit facility, to fund new investment opportunities and for other general corporate purposes.
The company expects to list the notes on the Nasdaq Global Select Market as “GAINZ.”
Gladstone is an externally managed closed-end non-diversified management investment company based in McLean, Va.
| Issuer: | Gladstone Investment Corp.
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| Issue: | Notes
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| Amount: | $117 million
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| Greenshoe: | $17.6 million
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| Maturity: | Nov. 1, 2028
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| Bookrunners: | Oppenheimer & Co. Inc., Goldman Sachs & Co. LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc.
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| Co-manager: | Wedbush Securities Inc.
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| Coupon: | 4.875%
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| Call features: | On or after Nov. 1, 2023
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| Trade date: | Aug. 11
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| Settlement date: | Aug. 18
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| Listing: | Nasdaq: GAINZ
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| Distribution: | SEC registered
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