<SEC-DOCUMENT>0001171843-19-005031.txt : 20190731
<SEC-HEADER>0001171843-19-005031.hdr.sgml : 20190731
<ACCEPTANCE-DATETIME>20190731163013
ACCESSION NUMBER:		0001171843-19-005031
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190731
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190731
DATE AS OF CHANGE:		20190731

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLADSTONE INVESTMENT CORPORATION\DE
		CENTRAL INDEX KEY:			0001321741
		IRS NUMBER:				830423116
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00704
		FILM NUMBER:		19989160

	BUSINESS ADDRESS:	
		STREET 1:		1521 WESTBRANCH DRIVE
		STREET 2:		SUITE 100
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		7032875800

	MAIL ADDRESS:	
		STREET 1:		1521 WESTBRANCH DRIVE
		STREET 2:		SUITE 100
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_073119.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--July 31, 2019-->July 31, 2019 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>Gladstone Investment Corporation</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>Delaware</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>814-00704</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>83-0423116</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. 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[&#160;&#160; ]</p><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">Securities registered pursuant to Section 12(b) of the Act:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p><table style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr><td style="vertical-align: top; width: 50%; text-align: center;"><font style="font-size: 10pt;"><u>Title of Each Class</u></font></td><td style="vertical-align: top; width: 1%;">&#160;</td><td style="vertical-align: top; width: 15%; text-align: center;"><font style="font-size: 10pt;"><u>Trading Symbol(s)</u></font></td><td style="vertical-align: bottom; width: 1%;">&#160;</td><td style="vertical-align: top; width: 32%; text-align: center;"><font style="font-size: 10pt;"><u>Name of Each Exchange on Which Registered</u></font></td><td style="vertical-align: top; width: 1%; text-align: center;"><font style="font-size: 10pt;">&#160;</font></td></tr><tr><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">Common Stock, $0.001 par value per share</font></td><td style="vertical-align: top;">&#160;</td><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">GAIN</font></td><td style="vertical-align: bottom;">&#160;</td><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">Nasdaq Global Select Market</font></td><td style="vertical-align: top; text-align: center;">&#160;</td></tr><tr><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">6.250% Series D Cumulative Term Preferred Stock, $0.001 par value per share</font></td><td style="vertical-align: top;">&#160;</td><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">GAINM</font></td><td style="vertical-align: bottom;">&#160;</td><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">Nasdaq Global Select Market</font></td><td style="vertical-align: top; text-align: center;">&#160;</td></tr><tr><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">6.375% Series E Cumulative Term Preferred Stock, $0.001 par value per share</font></td><td style="vertical-align: top;">&#160;</td><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">GAINL</font></td><td style="vertical-align: bottom;">&#160;</td><td style="vertical-align: top; text-align: center;"><font style="font-size: 10pt;">Nasdaq Global Select Market</font></td><td style="vertical-align: top; text-align: center;">&#160;</td></tr></table><p style="margin: 0;">&#160;</p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade" /><p><font style="font-size: 10pt;">  <strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 2.02. Results of Operations and Financial Condition.</strong></font></p><p><font style="font-size: 10pt;">
 <p>On July 31, 2019, Gladstone Investment Corporation issued a press release announcing its financial results for its first fiscal quarter ended June 30, 2019. The text of the press release is included as an exhibit to this Current Report on Form 8-K. The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.</p> </font></p><p><font style="font-size: 10pt;"><strong>  </strong></font></p><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p style="margin-left:0in; text-indent:0.5in; margin-right:0in;"><font style="font-size:10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits. </font></p> <table style="width:100%; border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="border-bottom: solid black 1pt ; vertical-align: top ; "><strong><font style="font-size:10pt;">Exhibit No. </font></strong></td><td style="vertical-align: top ; "><font style="font-size:10pt;">&#160; </font></td><td style="border-bottom: solid black 1pt ; vertical-align: top ; "><strong><font style="font-size:10pt;">Description </font></strong></td></tr><tr><td style="vertical-align: top ; "><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">99.1</a></font></font> </font></td><td style="vertical-align: top ; "><font style="font-size:10pt;">&#160; </font></td><td style="vertical-align: top ; "><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Press Release issued by Gladstone Investment Corporation, dated July 31, 2019. </a></font></font></td></tr></table></font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" /><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>Gladstone Investment Corporation</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: July 31, 2019</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Nicole Schaltenbrand&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Nicole Schaltenbrand</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Acting Principal Financial Officer</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr></table><p /></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Gladstone Investment Corporation Reports Financial Results for its First Quarter Ended June 30, 2019</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
   <p align="left">MCLEAN, Va., July  31, 2019  (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ: GAIN) (the &#8220;Company&#8221;) today announced earnings for its first quarter ended June 30, 2019. 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These fees were accrued in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;), where such amounts were not contractually due under the terms of the investment advisory agreement for the respective periods. Also see discussion under <em>Non-GAAP Financial Measure &#8211; Adjusted Net Investment Income</em> below.<br >&#160;<sup>(B)&#160;&#160;&#160;&#160;&#160;&#160; </sup>See <em>Non-GAAP Financial Measure &#8212; Adjusted Net Investment Income</em> below for a description of this non-GAAP&#160;measure and a reconciliation from Net investment income to Adjusted net investment income, including on a weighted-average per share basis. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure&#160;is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.<br >&#160;<sup>(C)&#160;&#160;&#160;&#160;&#160;&#160; </sup>Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date.</p>    <p>NM = Not Meaningful</p>    <p><strong>Highlights for the Quarter:</strong>&#160; During the quarter ended June 30, 2019, the following significant events occurred:</p>    <ul type="disc"><li><strong>Portfolio Activity:</strong>  <ul type="circle"><li>Invested $38.8 million through a combination of secured first lien debt and preferred equity into one new portfolio company;</li><li>Invested $12.5 million in existing portfolio companies;</li><li>Exited two investments, which resulted in dividend income of $2.1 million, repayment of our debt investments of $14.2 million at par, and a net realized gain of $0.5 million; and</li><li>Received $15.8 million for the repayment of the debt of an existing portfolio company at par.&#160; <br ><br ></li></ul>  </li><li><strong>Distributions and Dividends:</strong>  <ul type="circle"><li>Paid the following monthly cash distributions to common stockholders and dividends to preferred stockholders for each of April, May, and June 2019:  <ul type="square"><li>$0.068 per common share;</li><li>$0.13020833 per share to holders of our 6.25% Series D Cumulative Term Preferred Stock (&#8220;Series D Term Preferred Stock&#8221;);</li><li>$0.13281250 per share to holders of our 6.375% Series E Cumulative Term Preferred Stock (&#8220;Series E Term Preferred Stock&#8221;); and</li></ul>  </li><li>Paid a $0.09 per common share supplemental distribution in June 2019.</li></ul>  </li></ul>    <p><strong>First Quarter Results</strong><strong>:</strong> Net investment income for the quarters ended June 30, 2019 and March 31, 2019 was $8.9 million, or $0.27 per weighted-average common share, and $5.5 million, or $0.17 per weighted-average common share, respectively. This increase was a result of the increase in total investment income and the decrease in total expenses, net of credits, quarter over quarter.</p>    <p>Total investment income during the quarters ended June 30, 2019 and March 31, 2019 was $17.3 million and $16.1 million, respectively. The quarter over quarter increase was due to a $1.3 million increase in other income, as the timing of dividend and success fee income can be variable.</p>    <p>Total expenses, net of credits, during the quarters ended June 30, 2019 and March 31, 2019, were $8.5 million and $10.6 million, respectively. The quarter over quarter decrease was primarily due to a $2.6 million decrease in the capital gains-based incentive fee and a $0.6 million increase in credits to fees from the adviser, partially offset by a $0.8 million increase in the income-based incentive fee.</p>    <p>Net asset value per common share as of June 30, 2019 decreased to $12.29, compared to $12.40, as of March 31, 2019. 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Please call (855) 376-7516 to enter the conference. An operator will monitor the call and set a queue for any questions. A replay of the conference call will be available through August 8, 2019. To hear the replay, please dial (855) 859-2056 and use the playback conference number 5695416. The replay will be available beginning approximately one hour after the call concludes. The live audio broadcast of the Company&#8217;s quarterly conference call will also be available online at www.gladstoneinvestment.com. The event will be archived and available for replay on the Company&#8217;s website through October 1, 2019.</p>    <p><strong>About </strong><strong>Gladstone Investment Corporation</strong><strong>:</strong>&#160; Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.</p>    <p>To obtain a paper copy of our Quarterly Report on Form 10-Q, filed today with the SEC, please contact the Company at 1521 Westbranch Drive, Suite 100, McLean, VA 22102, ATTN: Investor Relations. The financial information above is not comprehensive and is without notes, so readers should obtain and carefully review the Company&#8217;s Form 10-Q for the three months ended June 30, 2019, including the notes to the consolidated financial statements contained therein.</p>    <p>Source: Gladstone Investment Corporation</p>    <p align="justify"><strong>Investor Relations Inquiries</strong>: Please visit ir.gladstoneinvestment.com. or +1-703-287-5893.</p> </p><p ></p></body></html>
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