Gladstone Investment Corporation Prices Public Offering of 8.00% Notes due 2028

May 24, 2023

MCLEAN, VA / ACCESSWIRE / May 23, 2023 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced that it priced a public offering of $65.00 million aggregate principal amount of 8.00% Notes due 2028 (the "Notes") on May 23, 2023. The Notes will mature on August 1, 2028 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after August 1, 2025. The Notes will bear interest at a rate of 8.00% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning August 1, 2023. The Company also granted the underwriters a 30-day option to purchase up to an additional $9.75 million in aggregate principal amount of Notes to cover overallotments, if any. The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol "GAINL" within 30 days of issuance. Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for this offering. Piper Sandler & Co., Wedbush Securities Inc. and Gladstone Securities, LLC are acting as co-managers for this offering.

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