Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, April 1, 4:56 PM

This Slide: #366 of 609

Slide #366. Gladstone Investment Corporation — Preferred Stock Offering

Company:	Gladstone Investment Corporation (NASDAQ:GAIN)
Date announced:	5/5/2015
Security type:	6.50% Series C Cumulative Term Preferred Stock Due 2022 (NASDAQ:GAINN)
Shares Offered:	1,400,000
Date of Pricing:	5/6/2015
Price Per Share:	$25.00
Preferred Stock Offering Details:	Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced that it plans to sell shares of its newly designated Series C Cumulative Term Preferred Stock due 2022 (the "Series C 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 C 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, Wunderlich Securities, Inc., William Blair & Company, L.L.C. and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), are serving as co-lead managers of the offering. Maxim Group LLC is serving as co-manager of the offering. - updated 5/7 - Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced that it has entered into an agreement to sell 1,400,000 shares of its newly designated 6.50% Series C Cumulative Term Preferred Stock Due 2022 (the "Series C Term Preferred Shares") at a public offering price of $25.00 per share, raising $35.0 million in gross proceeds and approximately $33.5 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 210,000 additional Series C 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 May 12, 2015. The Series C Term Preferred Shares will have a seven-year term, unless earlier redeemed by the Company. The Company anticipates its Series C Term Preferred Shares will trade on the NASDAQ Global Select Market under the symbol GAINN.

Gladstone Investment operates as an externally managed, closed-end, non-diversified management investment company. Co.'s investment objectives are to: achieve and grow income by investing in debt securities of established businesses and provides its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses, generally in combination with the aforementioned debt securities.

Preferred: GAINP

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GAIN — Key Stats (updated Friday, March 31, 10:23 AM)

Name:
Gladstone Investment Corp
Website:
www.gladstoneinvestment.com
Sector:
Investment Companies & Venture Capital
Number of ETFs Holding GAIN:
1 (see which ones)
Total Market Value Held by ETFs:
$5,995,747
Total Market Capitalization:
$441,000,000
% of Market Cap. Held by ETFs:
1.36%