Gladstone Invt Corp Stock Price, News & Analysis

Gladstone Investment Corporation (Nasdaq: GAIN) reported its Q2 earnings for the period ending September 30, 2021, highlighting a total investment income of $18.5 million, up 2.8% from the previous quarter. Net investment income reached $2.2 million, a notable recovery from a loss of $2.3 million in Q1. The company declared cash distributions of $0.16 per share, down 20% from the prior quarter. Notably, the net asset value per share increased to $13.27, a 4.8% rise from Q1. Significant investments included $24.3 million in a new portfolio company and $6.2 million in existing ones.

Gladstone Investment Corporation (NASDAQ:GAIN) will host its Second Fiscal Quarter Earnings Call on November 3, 2021, at 8:30 a.m. EDT. This call will detail the financial performance for the quarter ending September 30, 2021. Investors can access the call via webcast or by phone at (866) 373-3416. A replay will be available one hour post-call until November 10, 2021, at (877) 660-6853. The event aims to provide insights into the company's secured debt and equity investments in lower middle market businesses.

Gladstone Investment Corporation (Nasdaq: GAIN) announced an increase in monthly cash distributions from $0.07 to $0.075 per share, effective for October, November, and December 2021, reflecting a 7% increase. Additionally, a supplemental distribution of $0.09 per share is scheduled for December 2021. The total cash distribution for the quarter is projected at $0.315. Furthermore, the company plans to report its second fiscal quarter earnings on November 2, 2021, followed by a conference call on November 3, 2021.

Gladstone Investment Corporation (Nasdaq: GAIN) announced the acquisition of Utah Pacific Bridge & Steel, LLC and Mountain Pacific Transport, LLC on July 30, 2021. This strategic move aims to enhance its market presence in the western U.S. by leveraging Utah Pacific's leadership in large steel components for bridge construction. The transaction involved both equity and senior secured debt financing. Gladstone expressed confidence in Utah Pacific’s growth potential and commitment to quality service.

Gladstone Investment Corporation (Nasdaq: GAIN) announced a public offering of $117 million in 4.875% Notes due 2028. The notes will mature on November 1, 2028, and interest will be paid quarterly starting November 1, 2021. The Company plans to use the proceeds to redeem its outstanding 6.375% Series E Preferred Stock, repay revolving credit, fund new investments, and for general corporate purposes. The offering includes a 30-day option for underwriters to purchase an additional $17.6 million of notes. Listing is expected on the Nasdaq Global Select Market under the symbol GAINZ.

Gladstone Investment Corporation (NASDAQ: GAIN) announced plans to redeem all outstanding shares of its 6.375% Series E Cumulative Term Preferred Stock due 2025. This redemption is contingent upon the successful completion of their public offering of unsecured notes. The anticipated redemption date is August 19, 2021, at a redemption price of $25.079687500 per share. A notice of redemption will be sent to registered holders, and the proceeds from the note offering will be used to fund this redemption.

Gladstone Investment Corporation (NASDAQ: GAIN) announced a public offering of Notes due 2028, expected to be listed on Nasdaq under the symbol GAINO. The offering will be managed by Oppenheimer & Co., Goldman Sachs, B. Riley Securities, and Ladenburg Thalmann. Proceeds will be used to redeem 6.375% Series E Cumulative Term Preferred Stock due 2025, repay part of its revolving credit facility, and fund new investments. Investors are advised to review the preliminary prospectus filed with the SEC for detailed information.

Gladstone Investment Corporation (NASDAQ: GAIN) reported a net investment loss of $2.3 million for Q1 FY2021, contrasting with a profit of $3.1 million the previous quarter. Total investment income rose 7.9% to $18 million, driven by a $3.3 million increase in interest income. However, total expenses surged 49.9% to $20.3 million, largely due to a rise in capital gains-based incentive fees. The net asset value per share increased to $12.66, up 9.9% from March 31. The company declared a cash distribution of $0.20 per share, reflecting a 33.3% increase from the prior quarter.

Gladstone Investment Corporation (Nasdaq: GAIN) announced on July 23, 2021, its investment in Nocturne Villa Rentals for the acquisition of St. Barth Properties and St. Barth Dream Vacations. This acquisition marks Nocturne's second since its inception, following the acquisition of Exceptional Stays in June 2021. St. Barth Properties, founded in 1989, manages over 250 luxury vacation rentals in St. Barth, providing premier hospitality services. Gladstone aims to expand Nocturne's portfolio in the luxury vacation rental market.