Welcome to our dedicated page for Gladstone Investment Corporation news (Ticker: GAIN), a resource for investors and traders seeking the latest updates and insights on Gladstone Investment Corporation stock.
Gladstone Investment Corporation (NASDAQ: GAIN) is a publicly traded business development company (BDC) that specializes in providing both equity and debt capital to mature, lower middle-market companies in the United States. Operating as part of the Gladstone Companies, GAIN focuses on investing in businesses with strong fundamentals and solid management teams. The company's primary objective is to offer shareholders current yield through monthly dividends and the potential for capital appreciation.
As an externally managed, closed-end, non-diversified management investment company, GAIN supports private businesses by facilitating acquisitions, changes in control, and recapitalizations. The company offers a unique value proposition, providing all necessary capital without the constraints of partnership end-of-life deadlines. This allows GAIN to tailor its investments to meet the long-term needs of its portfolio companies.
GAIN's investment strategy encompasses both debt and equity securities, aiming to generate current income and long-term capital appreciation. Recent significant events include:
- October 24, 2023: The board declared an additional supplemental cash distribution of $0.88 per share for December 2023.
- October 25, 2023: GAIN supported portfolio company Specialized Fabrication Equipment Group LLC in acquiring CPMT Holdings Corp., enhancing its product offerings and management strength.
- November 1, 2023: The company reported earnings for its second fiscal quarter, highlighting a significant improvement in adjusted net investment income.
- January 9, 2024: The board announced monthly cash distributions and planned to report third fiscal quarter earnings.
- February 6, 2024: GAIN released third fiscal quarter earnings, showing continued financial strength.
- April 9, 2024: The board declared monthly cash distributions and planned to report year-end earnings.
- May 8, 2024: The company reported earnings for its fourth quarter and fiscal year, reflecting robust financial performance and strategic achievements.
GAIN's approach of providing both debt and equity financing enhances its ability to close transactions swiftly and effectively. The company's flexibility and patient capital make it a valuable partner for businesses aiming for sustained growth. For more details, visit their official website.
Gladstone Investment (GAIN) has announced monthly cash distributions of $0.08 per share for common stockholders for January, February, and March 2025, totaling $0.24 for the quarter. The distributions will be paid on January 31, February 28, and March 31, 2025, to stockholders of record on January 24, February 19, and March 19, respectively.
The company will report its third fiscal quarter earnings (ended December 31, 2024) after market close on February 12, 2025, followed by a conference call on February 13, 2025, at 8:30 a.m. Eastern Time. A dividend reinvestment plan (DRIP) is available to common stockholders. The conference call replay will be accessible through February 20, 2025.
Proteus Enterprises has announced the acquisition of Ricardo Defense Inc., a leading system integrator for US Army vehicle and logistics programs, in partnership with Gladstone Investment (NASDAQ: GAIN). Ricardo Defense, headquartered in Troy, MI, with operations across multiple states and overseas, is known for developing engineering and product solutions for US Army programs, including the ABS/ESC system for the HMMWV.
The acquisition brings US ownership and access to capital to Ricardo Defense, which has shown significant growth through developing new capabilities and customer relationships over the past decade. Pete Roney, Proteus co-founder, will serve as the incoming CEO of Ricardo Defense. The transaction's financial terms were not disclosed.
Gladstone Investment (NASDAQ:GAIN) has announced its acquisition of Ricardo Defense Systems, and Ricardo Defense, Inc. (RDI), along with Proteus Enterprises The transaction was financed through a combination of equity and senior secured debt provided by Gladstone Investment.
RDI, headquartered in Troy, Michigan, specializes in engineering services and systems integration, focusing on Department of Defense fleet modernization and maintenance solutions. The acquisition is expected to generate both dividend income for shareholders and long-term capital appreciation through capital gains.
The deal adds RDI as a portfolio company to Gladstone Investment's assets, with plans to expand the company's established presence and continue delivering innovative solutions to its customers under the leadership of President Chet Gryczan and the RDI team.
Gladstone Investment (NASDAQ:GAIN) announced the acquisition of Nielsen-Kellerman, Inc. on December 19, 2024. The transaction involves both equity capital and senior secured debt provided by Gladstone Investment. Nielsen-Kellerman specializes in designing and manufacturing rugged, waterproof environmental measurement and sports performance instruments for outdoor enthusiasts, competitive athletes, and technical professionals.
The acquisition aligns with Gladstone's investment strategy of acquiring companies with strong brands and experienced management teams. The company sees potential for growth through expanding market reach and enhancing product offerings. This buyout aims to create long-term value for Gladstone Investment's shareholders through Nielsen-Kellerman's established market position and innovation capabilities.
Gladstone Investment (Nasdaq:GAIN) has announced a definitive agreement to acquire Ricardo Defense, Inc. (RDI) in partnership with Proteus Enterprises The transaction, signed on December 13, 2024, is expected to close by December 31, 2024. Gladstone Investment will provide both equity and senior secured debt financing for the acquisition.
RDI, headquartered in Troy, Michigan, specializes in engineering services and systems integration, focusing on Department of Defense fleet modernization and maintenance solutions. The acquisition is expected to generate both dividend income for shareholders and long-term capital appreciation through capital gains.
Gladstone Investment (NASDAQ:GAIN) has priced a public offering of $110.0 million in 7.875% Notes due 2030. The Notes will mature on February 1, 2030, with an option for early redemption after February 1, 2027. Interest will be paid quarterly starting February 1, 2025. The company granted underwriters a 30-day option to purchase an additional $16.5 million in Notes for overallotments.
The Notes will be listed on Nasdaq Global Select Market under symbol 'GAINI'. Proceeds will be used to repay revolving credit facility debt, fund new investments, and for general corporate purposes. The offering is expected to close around December 17, 2024.
Gladstone Investment (Nasdaq:GAIN) has announced plans for a public offering of Notes due 2030. The Notes are expected to be listed on the Nasdaq Global Select Market under the symbol 'GAINI' within 30 days of issuance.
The offering will be managed by joint book-runners Oppenheimer & Co. Inc., B. Riley Securities, Inc., Lucid Capital Markets, and Piper Sandler & Co, with InspereX , Janney Montgomery Scott and Wedbush Securities Inc. serving as co-managers.
The company plans to use the proceeds to repay a portion of its revolving credit facility, fund new investment opportunities, and for general corporate purposes. The offering is being conducted under the company's effective shelf registration with the SEC (File No. 333-277452).
Gladstone Investment (NASDAQ:GAIN) has announced its partnership with Scott Dunlop in acquiring Pyrotek Special Effects on November 22, 2024. Gladstone provided equity and senior secured debt for the transaction. Pyrotek is a leading special effects services provider for the live entertainment industry, serving major global music, entertainment, sports, and media brands. Scott Dunlop will continue as President and CEO. The acquisition aims to generate both dividend income for shareholders and long-term capital appreciation through capital gains.
Gladstone Investment (GAIN) announced the retirement of Terry Lee Brubaker as Chief Operating Officer, effective December 2, 2024. Brubaker will also step down from his positions at Gladstone Management and Gladstone Administration, Michael LiCalsi, the Company's General Counsel and Secretary, will assume additional operational responsibilities while a national search for a Chief Investment Officer is conducted to handle Brubaker's investment committee duties.
Gladstone Investment (GAIN) reported financial results for Q2 2024. Total investment income increased 1.7% to $22.6 million, while net investment income decreased 41.3% to $7.3 million ($0.20 per share). The company recorded a significant realized gain of $42.3 million, primarily from the exit of Nth Degree Investment. Net asset value per share decreased to $12.49 from $13.01 in the previous quarter. The company declared distributions of $0.08 per share monthly and an additional special distribution of $0.70 per share paid in October 2024.
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