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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Sep. 26, 1:20 AM

Slide #17. Gladstone Investment Corporation Secondary Offering

Company: Gladstone Investment Corporation (NASDAQ:GAIN)
Date announced: 9/19/2016
Shares Offered: 2,000,000
Date of Pricing: 9/19/2016
Price Per Share: $25.00
Secondary Offering Details: Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") today announced that it plans to sell shares of its newly designated Series D Cumulative Term Preferred Stock due 2023 (the "Series D Term Preferred Stock") in an underwritten public offering. The aggregate public offering price, dividend yield and other terms are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Series D Term Preferred Stock on the same terms and conditions solely to cover over-allotments, if any. Janney Montgomery Scott LLC is serving as the sole book-running manager. J.J.B. Hilliard, W.L. Lyons, LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), and Wunderlich Securities, Inc. are serving as co-lead managers of the offering. William Blair & Company, L.L.C. and Maxim Group LLC are serving as co-managers of the offering. -updated 9/19- Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") today announced that it has entered into an agreement to sell 2,000,000 shares of its newly designated 6.25% Series D Cumulative Term Preferred Stock due 2023 (the "Series D Term Preferred Shares") at a public offering price of $25.00 per share, raising $50.0 million in gross proceeds and approximately $48.2 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 300,000 additional Series D 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 September 26, 2016. The Series D Term Preferred Shares will have a seven-year term, unless earlier redeemed by the Company. The Company anticipates its Series D Term Preferred Shares will trade on the NASDAQ Global Select Market under the symbol "GAINM."

Gladstone Investment is an externally advised, closed-end, non-diversified management investment company. Co. invests in debt and equity securities of established private businesses in the U.S. Debt investments primarily come in the form of two types of loans: secured first lien loans and secured second lien loans. Equity investments primarily take the form of preferred or common equity (or warrants or options to acquire the foregoing), often in connection with buyouts and other recapitalizations. Co. is externally managed by Gladstone Management Corporation. Administrative services are provided by Gladstone Administration, LLC.

Preferred: GAINP


Open the GAIN Page at The Online Investor »

Company Name:  Gladstone Investment Corp
Website:  www.gladstoneinvestment.com
Sector:  Asset Management
Number of ETFs Holding GAIN:  2
Total Market Value Held by ETFs:  $1.30M
Total Market Capitalization:  $269.00M
% of Market Cap. Held by ETFs:  0.48%
 

Open the GAIN Page at The Online Investor (in a new window) »

September 26, 2016    1:20 AM Eastern
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