Business development company Gladstone Investment Corporation (GAIN) has priced their new baby bond.
2.6 million shares (bonds) price at a coupon of 8%–there is an over allotment available of 390,000.
1st optional call date is 8/1/2025–with maturity 8/1/2028
Egan-Jones rates the issue BBB
Shares will not trade OTC grey and likely will not trade until next week sometime.
The pricing term sheet is here.