MCLEAN, VA / ACCESS Newswire / January 13, 2026 / Gladstone Investment Corporation (NASDAQ:GAIN) (the “Company”) announced today that its board of directors declared the following monthly cash distributions to common stockholders. The Company also announced its plan to report earnings for its third fiscal quarter ended December 31, 2025.
Common Stock: $0.08 per share of common stock for each January, February and March 2026 payable per the table below.
Record Date
Payment Date
Cash Distribution
January 23
January 30
$
0.08
February 18
February 27
$
0.08
March 23
March 31
$
0.08
Total for the Quarter:
$
0.24
The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders. For more information regarding the DRIP, please visit www.gladstoneinvestment.com.
The Company also announced today that it plans to report earnings after the stock market closes on Tuesday, February 3, 2026, for its third fiscal quarter ended December 31, 2025. The Company will hold a conference call on Wednesday, February 4, 2026 at 8:30 a.m. Eastern Time to discuss its earnings results. Please call (866) 373-3416 to enter the conference call. An operator will monitor the call and set a queue for questions.
A conference call replay will be available beginning one hour after the call and will be accessible through February 11, 2026. To hear the replay, please dial (877) 660-6853 and use playback conference number 13757327.
The live audio broadcast of the Company’s conference call will be available online at www.gladstoneinvestment.com. The event will also be archived and available for replay on the Company’s website.
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control, and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.
The statements in this press release regarding potential future distributions, earnings and operations of the Company are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on the Company’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.
MCLEAN, VA / ACCESS Newswire / December 12, 2025 / Gladstone Investment Corporation (NASDAQ:GAIN) (“Gladstone Investment”) is pleased to announce its acquisition of Rowan Energy, Inc. (“Rowan”) along with Xyresic Capital (“Xyresic”). Gladstone Investment provided senior secured debt and the majority of the equity to complete the transaction.
Rowan, based in Oklahoma City, Oklahoma, is a leading U.S. oil-and-gas services company specializing in advanced frac sand filtration, completion-equipment deployment and field-operations support. “Rowan’s commitment to delivering outstanding solutions for its customers has been central to its impressive growth. We are proud to invest in a business that has set the standard for success in its sector and see tremendous growth potential ahead. Further, we are thrilled to expand our relationship with Xyresic,” said Christopher Lee, Senior Managing Director of Gladstone Investment.
“Our investment in Rowan aligns with our pursuit of opportunities that provide reliable dividend income and the potential for attractive long-term capital appreciation resulting in capital gains for our shareholders. We look forward to working together with the management team to realize this value creation,” said David Dullum, President of Gladstone Investment.
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in connection with acquisitions, changes in control, and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
Forward-looking Statements: The statements in this press release regarding the longer-term prospects of Gladstone Investment and Rowan and its management team, and the ability of Gladstone Investment and Rowan to grow and expand are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
For further information: Gladstone Investment Corporation, (703) 287-5893
MCLEAN, VA / ACCESS Newswire / November 14, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) (the “Company”) today announced that it plans to redeem all of its outstanding 8.00% Notes due 2028 (the “2028 Notes”). A notice of redemption will be mailed to all registered holders of the 2028 Notes by UMB Bank, National Association (the “Trustee”), in accordance with the terms of the Indenture, dated as of May 22, 2020, between the Company and the Trustee, and Section 1.01(g) of the Fourth Supplemental Indenture dated as of May 31, 2023 (collectively, the “Indenture”). The 2028 Notes redemption date is December 16, 2025 (the “Redemption Date”). The redemption price for the 2028 Notes equals 100% of the $74,750,000 aggregate principal amount of the 2028 Notes being redeemed, plus accrued and unpaid interest otherwise payable for the then-current quarterly interest period accrued to, but excluding, the Redemption Date. In connection with the redemption, the 2028 Notes will be delisted from the Nasdaq Global Select Market.
This communication does not constitute a notice of redemption under the terms of the Indenture, nor an offer to tender for, or purchase of, any 2028 Notes or any other security.
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations.
Forward-Looking Statements
This press release contains statements as to the Company’s intentions and expectations of the outcome of future events that are forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These statements relate to the redemption of its 2028 Notes. Completion of the transaction on the terms described above is subject to numerous conditions, many of which are beyond the control of the Company, and such transaction may not be completed on the terms described, or at all. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a description of certain risks to which the Company is or may be subject, please refer to the factors discussed under the captions “Forward-Looking Statements” and “Risk Factors” included in the Company’s filings with the Securities and Exchange Commission (accessible at www.sec.gov).
MCLEAN, VA / ACCESS Newswire / November 6, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) (the “Company”) today announced that it priced a registered direct offering of $60.0 million aggregate principal amount of 6.875% Notes due 2028 (the “Notes”). The Notes will mature on November 1, 2028 and may be redeemed in whole or in part at any time prior to August 1, 2028 at par plus a “make-whole” premium and thereafter at par plus accrued and unpaid interest thereon to the redemption date. The Notes will bear interest at a rate of 6.875% per year payable on May 1 and November 1 of each year, beginning May 1, 2026. The Company does not intend to list the Notes on any securities exchange or automated dealer quotation system. B. Riley Securities acted as sole book-running 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 November 10, 2025.
The Company intends to use the net proceeds from this offering to repay a portion of the amount outstanding under its revolving credit facility, to fund new investment opportunities, and for other general corporate purposes. The Company intends to re-borrow under its credit facility to make investments in portfolio companies in accordance with its investment objectives depending on the availability of appropriate investment opportunities consistent with its investment objectives and market conditions 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 prospectus supplement, dated November 6, 2025, and the accompanying prospectus, dated April 18, 2024, 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 statement filed with the SEC (File No. 333-277452).
To obtain a copy of the prospectus supplement for this offering and the accompanying prospectus, please contact: B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, by telephone at (703) 312-9580 or by email at prospectuses@brileysecurities.com.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations.
Forward-Looking Statements
This press release contains statements as to the Company’s intentions and expectations of the outcome of future events that are forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These statements relate to the offering of Notes and the anticipated use of the net proceeds by the Company. No assurance can be given that the transaction discussed above will be completed on the terms described, or at all. Completion of the offering on the terms described, and the application of net proceeds, are subject to numerous conditions, many of which are beyond the control of the Company. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a description of certain risks to which the Company is or may be subject, please refer to the factors discussed under the captions “Forward-Looking Statements” and “Risk Factors” included in the Company’s filings with the SEC (accessible at www.sec.gov).
CONTACT: For further information: Gladstone Investment Corporation, (703) 287-5893.
MCLEAN, VA / ACCESS Newswire / November 4, 2025 / Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) today announced earnings for its second fiscal quarter ended September 30, 2025. Please read the Company’s Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website at www.sec.gov or the investors section of the Company’s website at www.gladstoneinvestment.com.
Summary Information: (dollars in thousands, except per share data (unaudited)):
September 30, 2025
June 30, 2025
Change
%
Change
For the quarter ended:
Total investment income
$
25,279
$
23,544
$
1,735
7.4
%
Total expenses, net(A)
21,000
14,456
6,544
45.3
%
Net investment income(A)
4,279
9,088
(4,809
)
(52.9
)%
Net realized loss
(29,938
)
–
(29,938
)
NM
Net unrealized appreciation (depreciation)
54,368
(1,316
)
55,684
NM
Net increase in net assets resulting from operations(A)
$
28,709
$
7,772
$
20,937
269.4
%
Net investment income per weighted-average common share(A)
$
0.11
$
0.25
$
(0.14
)
(56.0
)%
Adjusted net investment income per weighted-average common share(B)
$
0.24
$
0.24
$
–
–
%
Net increase in net assets resulting from operations per weighted-average common share(A)
$
0.75
$
0.21
$
0.54
257.1
%
Cash distribution per common share from net investment income(C)
$
0.24
$
0.27
$
(0.03
)
(11.1
)%
Cash distribution per common share from net realized gains(C)
$
–
$
0.51
$
(0.51
)
(100.0
)%
Weighted-average yield on interest-bearing investments
13.4
%
14.1
%
(0.7
)%
(5.0
)%
Total dollars invested
$
71,036
$
62,842
$
8,194
13.0
%
Total dollars repaid and collected from sales and recapitalization of investments
$
1,436
$
4,370
$
(2,934
)
(67.1
)%
Weighted-average shares of common stock outstanding – basic and diluted
38,445,643
36,908,943
1,536,700
4.2
%
Total shares of common stock outstanding
39,591,037
37,352,676
2,238,361
6.0
%
As of:
Total investments, at fair value
$
1,130,859
$
1,036,745
$
94,114
9.1
%
Fair value, as a percent of cost
109.0
%
103.9
%
5.1
%
4.9
%
Net assets
$
535,843
$
485,304
$
50,539
10.4
%
Net asset value per common share
$
13.53
$
12.99
$
0.54
4.2
%
Number of portfolio companies
28
27
1
3.7
%
NM = Not Meaningful
(A) Inclusive of $4.9 million, or $0.13 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended September 30, 2025 and $0.2 million, or $0.01 per weighted-average common share, of capital gains-based incentive fees reversed during the three months ended June 30, 2025, respectively. These fees were accrued/(reversed) in accordance with United States generally accepted accounting principles (“U.S. GAAP”), where such amounts were not contractually due under the terms of the investment advisory agreement for the respective periods. Also see discussion under Non-GAAP Financial Measure – Adjusted Net Investment Income below.
(B) See Non-GAAP Financial Measure – Adjusted Net Investment Income, below, for a description of this non-GAAP measure and a reconciliation from Net investment income to Adjusted net investment income, including on a weighted-average per share basis. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes it is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.
(C) Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date.
Highlights for the Quarter: During the quarter ended September 30, 2025, the following significant events occurred:
Portfolio Activity:
In July 2025, we invested $67.6 million in a new portfolio company, Global GRAB Technologies, Inc. (“Global GRAB”), in the form of $46.5 million of secured first lien debt and $21.1 million of preferred equity. Global GRAB, headquartered in Franklin, Tennessee, is a provider of turnkey perimeter security and hostile vehicle mitigation systems, serving various government and commercial organizations.
In September 2025, we entered into a new $20.0 million secured first lien term loan with J.R. Hobbs Co. – Atlanta, LLC (“J.R. Hobbs”), restructuring our previously outstanding first lien term loans and line of credit with an aggregate total cost basis of $49.9 million, which resulted in a realized loss of $29.9 million.
Distributions and Dividends:
Paid an $0.08 per common share distribution to common stockholders in each of July, August and September 2025.
At-the-market (“ATM”) Program Activity:
Sold 2,238,361 shares of our common stock under our common stock ATM program at a weighted-average gross price of $14.10 per share and raised approximately $31.1 million in net proceeds. These sales were above our then-current NAV per share.
Second Quarter Results: Net investment income for the quarter ended September 30, 2025 was $4.3 million, or $0.11 per weighted-average common share, compared to net investment income of $9.1 million, or $0.25 per weighted-average common share, for the quarter ended June 30, 2025. This decrease was a result of an increase in total expenses, net of credits, primarily due to an increase in accruals for capital gains-based incentive fees and an increase in interest expense, partially offset by an increase in total investment income in the current quarter.
Total investment income for the quarters ended September 30, 2025 and June 30, 2025 was $25.3 million and $23.5 million, respectively. The increase quarter over quarter was due to a $1.0 million increase in interest income, primarily due to an increase in the weighted-average principal balance of our interest-bearing investment portfolio outstanding, as well as a $0.7 million increase in dividend and success fee income, the timing of which can be variable.
Total expenses, net of credits, for the quarters ended September 30, 2025 and June 30, 2025 was $21.0 million and $14.5 million, respectively. The increase quarter over quarter was primarily due to a $5.1 million increase in accruals for capital gains-based incentive fees in the current quarter, as a result of the net impact of realized and unrealized gains and losses, a $1.1 million increase in interest expense due to increased borrowings on the credit facility, a $0.4 million increase in base management fee and a $0.3 million increase in income-based incentive fees. The increase was partially offset by a $0.2 million increase in credits from Adviser.
Net asset value per common share as of September 30, 2025 was $13.53, compared to $12.99 as of June 30, 2025. The increase quarter over quarter was primarily due to net unrealized appreciation of investments of $54.5 million, or $1.42, which included $35.3 million, or $0.92 per common share, of unrealized appreciation and $19.1 million, or $0.50 per common share, of reversal of unrealized depreciation on our investment in J.R. Hobbs upon its restructure. The increase was also due to $4.3 million, or $0.11 per common share, of net investment income and $0.06 per common share of net accretive effect of equity offerings. These increases were partially offset by $29.9 million, or $0.78 per common share, of realized loss on investments and $9.3 million, or $0.24 per common share, of distributions paid to common shareholders.
Subsequent Events: After September 30, 2025, the following significant events occurred:
Distributions and Dividends:
In October 2025, our Board of Directors declared the following monthly distributions to common stockholders:
Record Date
Payment Date
Distribution per Common Share
October 24, 2025
October 31, 2025
$
0.08
November 17, 2025
November 26, 2025
0.08
December 22, 2025
December 31, 2025
0.08
Total for the Quarter:
$
0.24
ATM program activity:
Subsequent to September 30, 2025, we sold 55,414 shares of our common stock under our common stock ATM program at a weighted-average gross price of $14.02 per share and raised approximately $0.8 million in net proceeds. These sales were above our then-current NAV per share.
Non-GAAP Financial Measure – Adjusted Net Investment Income: On a supplemental basis, the Company discloses Adjusted net investment income, including on a weighted-average per share basis, which is a financial measure that is calculated and presented on a basis of methodology other than in accordance with GAAP. Adjusted net investment income represents net investment income, excluding capital gains-based incentive fees. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company. The Company’s investment advisory agreement provides that a capital gains-based incentive fee is determined and paid annually with respect to realized capital gains (but not unrealized appreciation) to the extent such realized capital gains exceed realized capital losses and unrealized depreciation on investments for such year. However, under GAAP, a capital gains-based incentive fee is accrued if realized capital gains and unrealized appreciation of investments exceed realized capital losses and unrealized depreciation of investments. Refer to Note 4 – Related Party Transactions in our Quarterly Report on Form 10-Q for further discussion. The Company believes that Adjusted net investment income is a useful indicator of operations exclusive of any capital gains-based incentive fees, as net investment income does not include realized or unrealized investment activity associated with the capital gains-based incentive fee.
The following table provides a reconciliation of net investment income (the most comparable GAAP measure) to Adjusted net investment income for the periods presented (dollars in thousands, except per share amounts; unaudited):
For the quarter ended
September 30, 2025
June 30, 2025
Amount
Per Share
Amount
Amount
Per Share
Amount
Net investment income
$
4,279
$
0.11
$
9,088
$
0.25
Capital gains-based incentive fee
4,897
0.13
(209
)
(0.01
)
Adjusted net investment income
$
9,176
$
0.24
$
8,879
$
0.24
Weighted-average shares of common stock outstanding – basic and diluted
38,445,643
36,908,943
Adjusted net investment income may not be comparable to similar measures presented by other companies, as it is a non-GAAP financial measure that is not based on a comprehensive set of accounting rules or principles and therefore may be defined differently by other companies. In addition, Adjusted net investment income should be considered in addition to, not as a substitute for, or superior to, financial measures determined in accordance with GAAP.
Conference Call: The Company will hold its earnings release conference call on Wednesday, November 5, 2025, at 8:30 a.m. Eastern Time. Please call (866) 373-3416 to enter the conference call. An operator will monitor the call and set a queue for any questions. A replay of the conference call will be available through November 12, 2025. To hear the replay, please dial (877) 660-6853 and use the playback conference number 13755537. The replay will be available beginning approximately one hour after the call concludes. The live audio broadcast of the Company’s quarterly conference call will also be available online at www.gladstoneinvestment.com. The event will be archived and available for replay on the Company’s website.
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.
To obtain a paper copy of our Quarterly Report on Form 10-Q, filed today with the SEC, please contact the Company at 1521 Westbranch Drive, Suite 100, McLean, VA 22102, ATTN: Investor Relations. The financial information above is not comprehensive and is without notes, so readers should obtain and carefully review the Company’s Form 10-Q for the quarter ended September 30, 2025, including the notes to the consolidated financial statements contained therein.
The statements in this press release regarding potential future distributions, earnings and operations of the Company are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on the Company’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.
MCLEAN, VA / ACCESS Newswire / October 14, 2025 / Gladstone Investment Corporation (Nasdaq:GAIN) (the “Company”) announced today that its board of directors declared the following monthly cash distributions to common stockholders. The Company also announced its plan to report earnings for its second fiscal quarter ended September 30, 2025.
Common Stock: $0.08 per share of common stock for each of October, November and December 2025, all payable per the table below.
Record Date
Payment Date
Cash Distribution
October 24
October 31
$
0.08
November 17
November 26
$
0.08
December 22
December 31
$
0.08
Total for the Quarter:
$
0.24
The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders. For more information regarding the DRIP, please visit www.gladstoneinvestment.com.
The Company also announced today that it plans to report earnings after the stock market closes on Tuesday, November 4, 2025, for its second fiscal quarter ended September 30, 2025. The Company will hold a conference call on Wednesday, November 5, 2025 at 8:30 a.m. Eastern Time to discuss its earnings results. Please call (866) 373-3416 to enter the conference call. An operator will monitor the call and set a queue for questions.
A conference call replay will be available after the call and will be accessible through November 12, 2025. To hear the replay, please dial (877) 660-6853 and use playback conference number 13755537.
The live audio broadcast of the Company’s conference call will be available online at www.gladstoneinvestment.com. The event will also be archived and available for replay on the Company’s website.
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control, and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.
The statements in this press release regarding potential future distributions, earnings and operations of the Company are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on the Company’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.
By webcast — Log on to the web at the address above
By phone — please call (866) 373-3416
Contact:
Gladstone Investment Corporation, (703) 287-5893
A conference call replay will be available after the call and will be accessible through November 12, 2025. To hear the replay, please dial (877) 660-6853 and use playback conference number 13755537.
If you are unable to participate during the live webcast, the call will be archived on the website www.gladstoneinvestment.com.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations.
For further information: Gladstone Investment Corporation, (703) 287-5893
