Business development company Gladstone Investment (GAIN) has announced they are selling a new issue of baby bonds.
The issue will have a maturity date in 2030 and an early call available to the company in 2027.
The company has a number of low coupon baby bonds outstanding which can be seen here.
The preliminary prospectus can be found here.
Thanks to 2whiteroses for posting this yesterday afternoon.
Gladstone Investment Corporation Prices Public Offering of 7.875% Notes due 2030
https://www.gladstoneinvestment.com/newsroom/press-releases/detail/405/gladstone-investment-corporation-prices-public-offering-of
MCLEAN, VA / ACCESSWIRE / December 10, 2024 / Gladstone Investment Corporation (NASDAQ:GAIN) (the “Company”) today announced that it priced a public offering of $110.0 million aggregate principal amount of 7.875% Notes due 2030 (the “Notes”) on December 10, 2024. The Notes will mature on February 1, 2030 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after February 1, 2027. The Notes will bear interest at a rate of 7.875% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning February 1, 2025. The Company also granted the underwriters a 30-day option to purchase up to an additional $16.5 million in aggregate principal amount of Notes to cover overallotments, if any. The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol “GAINI” within 30 days of issuance. Oppenheimer & Co. Inc., B. Riley Securities, Inc. and Lucid Capital Markets, LLC are acting as joint book-running managers for this offering. InspereX LLC, Janney Montgomery Scott LLC and Wedbush Securities Inc. are acting as co-managers for this offering
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Hi.. Tim…..PREJF is on the master list with a pink line.. what does that mean..Georges