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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tuesday, November 24, 3:05 PM

Slide #303. Gladstone Investment Corporation Preferred Stock Offering

Company: Gladstone Investment Corporation (NASDAQ:GAIN)
Date announced: 11/5/2014
Shares Offered: 1,440,000
Date of Pricing: 11/5/2014
Price Per Share: $25
Preferred Stock Offering Details: Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") today announced that it has entered into an agreement to sell 1,440,000 shares of its newly designated 6.75% Series B Cumulative Term Preferred Stock (the "Series B Term Preferred Shares") at a public offering price of $25.00 per share, raising $36.0 million in gross proceeds and approximately $34.5 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 216,000 additional Series B 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 November 13, 2014. The Series B Term Preferred Shares will have a seven-year term, unless earlier redeemed by the Company. The Company anticipates its Series B Term Preferred Shares will trade on the NASDAQ Global Select Market under the symbol GAINO.

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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Name:  Gladstone Investment Corp
Website:  www.gladstoneinvestment.com
Sector:  Investment Companies & Venture Capital
Number of ETFs Holding GAIN:  2 (see which ones)
Total Market Value Held by ETFs:  $4,673,380
Total Market Capitalization:  $319,000,000
% of Market Cap. Held by ETFs:  1.47%
 

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