Gladstone Investment Corporation Announces Conditional Redemption of Series A Preferred Stock
September 19 2016 - 5:10PM
Gladstone Investment Corporation (NASDAQ:GAIN) (the “Company”)
today announced the conditional redemption of all 1,600,000
outstanding shares of its 7.125% Series A Cumulative Term Preferred
Stock. This optional redemption in full is contingent upon
the closing of an offering of the Company’s newly designated 6.25%
Series D Cumulative Term Preferred Stock due 2023 on or prior to
September 30, 2016, with gross proceeds to the Company equal to at
least $40 million, which equals the aggregate liquidation
preference of the outstanding Series A Preferred Stock. The
Company may waive the contingency with respect to the redemption,
may authorize a partial redemption and may cancel the redemption at
its sole discretion.
Notices of redemption on a conditional basis will
be sent with a redemption date of September 30, 2016 at a
redemption price of $25.00 per share, which represents the
liquidation preference per share of Series A Preferred Stock.
As previously announced on July 12, 2016, the Company will pay the
cash dividend on the Series A Preferred Stock of $0.1484375 for the
month of September to holders of Series A Preferred Stock as of
September 21, 2016, which is the record date for such dividend, on
September 30, 2016.
About Gladstone Investment
Corporation: Gladstone Investment Corporation is a
publicly traded business development company that seeks to make
debt and equity investments in small and medium-sized businesses in
the United States in connection with acquisitions, changes in
control and recapitalizations. The Company has paid 134 consecutive
monthly cash distributions on its common stock.
Investor Relations Inquiries: Please visit www.gladstone.com or +1-703-287-5878
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