Gladstone Investment Corporation Announces Closing of Over-Allotment Option on Common Stock
April 06 2015 - 4:15PM
Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company")
today announced that in connection with the offering of its common
stock, par value $0.001 per share (the "Common Stock"), completed
on March 13, 2015, the underwriters of the offering fully exercised
and closed on their over-allotment option to purchase an additional
495,000 shares of Common Stock from the Company on April 2, 2015.
The Company received approximately $3.5 million in additional net
proceeds from the sale of these shares, after deducting the
underwriting discount. Janney Montgomery Scott LLC, BB&T
Capital Markets, a division of BB&T Securities LLC, Ladenburg
Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc., and Wunderlich Securities, Inc. served as
joint book-running managers and J.J.B. Hilliard, W.L. Lyons, LLC
and Maxim Group LLC served as co-managers for this offering.
The Company intends to use the net proceeds from the sale of
these additional shares to repay outstanding borrowings under its
revolving credit facility. Amounts repaid under the revolving
credit facility remain available for future borrowings and the
Company may use the proceeds of future borrowings to make
investments in accordance with its investment strategy and for
other general corporate purposes.
The offering was conducted as a public offering under the
Company's effective shelf registration filed with the Securities
and Exchange Commission (File No. 333-181879). To obtain a
copy of the prospectus and the final prospectus supplement for this
offering, please contact: Janney Montgomery Scott LLC, 60 State
Street, Boston, MA 02109, Attention: Equity Capital Markets Group
or prospectus@janney.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
Gladstone Investment Corporation is a publicly traded business
development company that seeks to make debt and equity investments
in small- and mid-sized businesses in the United States in
connection with acquisitions, changes in control and
recapitalizations. The Company has paid 117 consecutive monthly
cash distributions on its common stock. Information on the business
activities of all the Gladstone funds can be found at
www.gladstonecompanies.com.
CONTACT: Investor Relations
(703) 287-5893
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