Gladstone Investment Announces $0.70 Supplemental Distribution to Common Stockholders

Rhea-AI Summary

Gladstone Investment (Nasdaq:GAIN) has announced a $0.70 supplemental distribution to common stockholders, payable on October 14, 2024, to shareholders of record on October 4, 2024. This distribution follows the company's successful exit from its investment in Nth Degree, Inc., which resulted in a realized gain of $42.3 million and the repayment of a $25.0 million debt investment at par in September 2024.

President David Dullum emphasized that this supplemental distribution demonstrates the strength of Gladstone's buyout strategy and its ability to reward shareholders with significant distributions from realized capital gains. The company's board of directors is scheduled to meet on October 8th to declare monthly distributions for the last quarter of 2024.

Positive

• Announced a $0.70 supplemental distribution to common stockholders
• Realized a gain of $42.3 million from exiting investment in Nth Degree, Inc.
• Received repayment of $25.0 million debt investment at par
• Demonstrated success of buyout strategy in generating capital gains

Negative

• None.

News Market Reaction

+3.46%

1 alert

+3.46% News Effect

On the day this news was published, GAIN gained 3.46%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MCLEAN, VA / ACCESSWIRE / September 17, 2024 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") announced today that its board of directors declared the following additional supplemental cash distribution to common stockholders in October 2024.

Common Stock: A supplemental distribution of $0.70 per share of common stock in October 2024 payable per the table below.

Record Date	Payment Date	Cash Distribution
October 4, 2024	October 14, 2024	$0.70

In September 2024, the Company exited its investment in Nth Degree, Inc., which resulted in a realized gain of $42.3 million and the repayment of its debt investment of $25.0 million at par.

"This supplemental distribution highlights the strength of our buyout strategy and its ability to reward our shareholders with meaningful supplemental distributions from the realized capital gains generated on the equity portion of our successful exits," said David Dullum, President of Gladstone Investment.

The Company's board of directors is also scheduled to conduct its next quarterly board meeting on October 8^th, where they plan to declare monthly distributions for October, November, and December of 2024.

The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.gladstoneinvestment.com.

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.

Investor Relations Inquiries: Please visit www.gladstonecompanies.com or (703) 287-5893.

Forward-looking Statements:

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.

SOURCE: Gladstone Investment Corporation

View the original press release on accesswire.com

FAQ

What is the amount of the supplemental distribution announced by Gladstone Investment (GAIN)?

Gladstone Investment (GAIN) announced a supplemental distribution of $0.70 per share of common stock.

When will Gladstone Investment (GAIN) pay the supplemental distribution?

The supplemental distribution will be paid on October 14, 2024, to shareholders of record as of October 4, 2024.

What event led to Gladstone Investment's (GAIN) supplemental distribution?

The supplemental distribution was made possible by Gladstone Investment's exit from its investment in Nth Degree, Inc., which resulted in a realized gain of $42.3 million and repayment of a $25.0 million debt investment.

When is Gladstone Investment's (GAIN) next board meeting to declare monthly distributions?

Gladstone Investment's board of directors is scheduled to meet on October 8, 2024, to declare monthly distributions for October, November, and December 2024.