Gladstone Investment Corporation Launches New Term Preferred Stock Offering
May 05 2015 - 9:33AM
Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company")
today announced that it plans to sell shares of its newly
designated Series C Cumulative Term Preferred Stock due 2022 (the
"Series C Term Preferred Stock") in an underwritten public
offering. The aggregate public offering price, dividend yield and
other terms are to be determined by negotiations between the
Company and the underwriters. The Company also plans to grant the
underwriters a 30-day option to purchase additional shares of
Series C Term Preferred Stock on the same terms and conditions
solely to cover over-allotments, if any. Janney Montgomery Scott
LLC is serving as the sole book-running manager. J.J.B. Hilliard,
W.L. Lyons, LLC, Wunderlich Securities, Inc., William Blair &
Company, L.L.C. and Ladenburg Thalmann & Co. Inc., a subsidiary
of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), are
serving as co-lead managers of the offering. Maxim Group LLC is
serving as co-manager of the offering.
The Company intends to use the net proceeds from this offering
to repay borrowings under its existing credit facility, to fund
investments in accordance with its investment strategy and for
other general corporate purposes.
Investors are advised to carefully
consider the investment objectives, risks and charges and expenses
of the Company before investing. The preliminary prospectus
supplement and the accompanying prospectus, dated September 4,
2014, which have been filed with the Securities and Exchange
Commission, contain this and other information about the Company
and should be read carefully before investing.
The offering is being 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 preliminary prospectus supplement for this offering and
the accompanying prospectus, please contact: Janney Montgomery
Scott LLC, 1717 Arch Street, Philadelphia, PA 19103, Attention:
Taxable Fixed Income Department 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.
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 118 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 Inquiries: Please call +1-703-287-5893
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