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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 6:36 AM

Slide #202. Gladstone Investment Corporation Preferred Stock Offering

Company: Gladstone Investment Corporation (NASDAQ:GAIN)
Date announced: 11/5/2014
Shares Offered: 1,440,000
Date of Pricing: 11/5/2014
Price Per Share: $25
Preferred Stock Offering Details: Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced that it has entered into an agreement to sell 1,440,000 shares of its newly designated 6.75% Series B Cumulative Term Preferred Stock (the "Series B Term Preferred Shares") at a public offering price of $25.00 per share, raising $36.0 million in gross proceeds and approximately $34.5 million in net proceeds after payment of underwriting discounts and commissions and estimated expenses of the offering payable by the Company. The Company has also granted the underwriters a 30-day option to purchase 216,000 additional Series B Term Preferred Shares on the same terms and conditions solely to cover over-allotments, if any. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on or about November 13, 2014. The Series B Term Preferred Shares will have a seven-year term, unless earlier redeemed by the Company. The Company anticipates its Series B Term Preferred Shares will trade on the NASDAQ Global Select Market under the symbol GAINO.

Gladstone Investment is an externally managed, closed-end, non-diversified management investment company. Co. invests in debt and equity securities of private companies. Debt investments mainly come in the form of two loan types: secured first lien loans and secured second lien loans. Equity investments mainly take the form of preferred or common equity (or warrants or options to acquire the foregoing), often in connection with buyouts and other recapitalizations. At Mar 31 2017, Co.'s portfolio consisted of investments in 35 portfolio companies in 17 states. Co. is externally managed by Gladstone Management Corporation. Administrative services are provided by Gladstone Administration, LLC.

Preferred: GAINP

Open the GAIN Page at Ru Back Packer »

Name: Gladstone Investment Corp
Sector: Investment Companies & Venture Capital
Number of ETFs Holding GAIN: 2 (see which ones)
Total Market Value Held by ETFs: $2,676,495
Total Market Capitalization: $342,000,000
% of Market Cap. Held by ETFs: 0.78%

Open the GAIN Page at Ru Back Packer (in a new window) »

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