<SEC-DOCUMENT>0001171843-17-002580.txt : 20170503
<SEC-HEADER>0001171843-17-002580.hdr.sgml : 20170503
<ACCEPTANCE-DATETIME>20170503162023
ACCESSION NUMBER:		0001171843-17-002580
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170503
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170503
DATE AS OF CHANGE:		20170503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLADSTONE CAPITAL CORP
		CENTRAL INDEX KEY:			0001143513
		IRS NUMBER:				542040781
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00237
		FILM NUMBER:		17809490

	BUSINESS ADDRESS:	
		STREET 1:		1521 WESTBRANCH DRIVE
		STREET 2:		SUITE 100
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		703-287-5800

	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_050317.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"><html><head></head><body style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><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%;">&#160;</div></div><p style="font-size: 14pt;" align="center"><strong>UNITED STATES</strong><br><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br><strong>Washington, D.C. 20549<br></strong>______________________</p><p style="font-size: 14pt; text-transform: uppercase;" align="center"><strong>Form 8-K<br></strong>______________________</p><p style="font-size: 12pt;" align="center"><strong>CURRENT REPORT</strong></p><p style="font-size: 12pt;" align="center"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></p><p align="center">Date of Report (Date of earliest event Reported): <!--May 3, 2017-->May 3, 2017 &#160;</p><p align="center"><strong style="font-size: 14pt;">Gladstone Capital Corporation</strong><br>(Exact Name of Registrant as Specified in Charter)</p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><strong>Maryland</strong></td><td align="center" width="34%"><strong>811-000000 <br><!--811-000000--></strong></td><td align="center" width="33%"><strong>54-2040781</strong></td></tr><tr valign="top"><td align="center" width="33%">(State or Other Jurisdiction of Incorporation)</td><td align="center" width="34%">(Commission File Number)</td><td align="center" width="33%">(I.R.S. Employer Identification Number)</td></tr></table><p>&#160;</p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="bottom"><td align="center" width="50%"><strong>1521 Westbranch Drive, Suite 100<br>McLean, Virginia<!--UNITED STATES --></strong></td><td align="center" width="50%"><strong>22102</strong></td></tr><tr valign="top"><td align="center" width="50%">(Address of Principal Executive Offices)&#160;</td><td align="center" width="50%">(Zip Code)</td></tr></table><p align="center"><strong>(703) 287-5800</strong><br>(Registrant's telephone number, including area code)</p><p align="center"><strong></strong><br>(Former name or former address, if changed since last report)</p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td colspan="3">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br><br></td></tr><tr valign="top"><td width="21">&#160;</td><td width="40">[ &#160; ]</td><td nowrap="nowrap">&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</td></tr><tr valign="top"><td width="21">&#160;</td><td width="40">[ &#160; ]</td><td nowrap="nowrap">&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</td></tr><tr valign="top"><td width="21">&#160;</td><td width="40">[ &#160; ]</td><td nowrap="nowrap">&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</td></tr><tr valign="top"><td width="21">&#160;</td><td width="40">[ &#160; ]</td><td nowrap="nowrap">&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</td></tr></table><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule&#160;12b-2&#160;of the Securities Exchange Act of 1934 (17 CFR&#160;&sect;240.12b-2).&#160;Emerging growth company [&#160;&#160;&#160;]</p><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&#160;&#160;&#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%;">&#160;</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 May 3, 2017, Gladstone Capital Corporation issued a press release announcing its financial results for the quarter ended March 31, 2017.&#160; The text of the press release is included as an exhibit to this Current Report on Form 8-K.&#160; 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><font style="font-size: 10pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></p><table style="border-collapse: collapse;" class="mce-item-table"><tr><td style="vertical-align: bottom;"><font style="font-size: 10pt;"><strong><u>Exhibit No.</u> </strong></font></td><td style="vertical-align: bottom;"><font style="font-size: 10pt;">&#160;</font></td><td style="vertical-align: bottom;"><font style="font-size: 10pt;"><u><strong>Description </strong></u></font></td></tr><tr><td style="vertical-align: bottom;"><font style="font-size: 10pt;">99.1</font></td><td style="vertical-align: bottom;"><font style="font-size: 10pt;">&#160;</font></td><td style="vertical-align: bottom;"><font style="font-size: 10pt;">Press Release of Gladstone Capital Corporation, dated May 3, 2017.</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"><strong>SIGNATURE</strong></p><p>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.</p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%">&#160;</td><td style="font-size: 12pt;" colspan="2" valign="top"><strong>Gladstone Capital Corporation</strong></td></tr><tr valign="top"><td width="49%">&#160;</td><td width="2%">&#160;</td><td width="49%">&#160;</td></tr><tr valign="top"><td width="49%">&#160;</td><td width="2%">&#160;</td><td width="49%">&#160;</td></tr><tr valign="top"><td width="49%">Date:&#160;May 3, 2017</td><td width="2%">By:&#160;</td><td style="text-decoration: underline;" width="49%">/s/ Nicole Schaltenbrand&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td></tr><tr valign="top"><td width="49%">&#160;</td><td width="2%">&#160;</td><td width="49%">Nicole Schaltenbrand</td></tr><tr valign="top"><td width="49%">&#160;</td><td width="2%">&#160;</td><td width="49%">Chief Financial Officer & Treasurer</td></tr><tr valign="top"><td width="49%">&#160;</td><td width="2%">&#160;</td><td width="49%"></td></tr></table><p><hr style="page-break-after: always;" noshade="noshade"><p style="text-align: center;"><font style="font-size: 10pt;"><strong>EXHIBIT INDEX</strong></font></p><p style="text-align: center;"><font style="font-size: 10pt;">&#160;</font></p><table class="mce-item-table" style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0"><tr><td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;"><strong>Exhibit No.</strong></font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;"><strong>Description</strong></font></td></tr><tr><td>&#160;</td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td><font style="font-size: 10pt;">&#160;</font></td></tr><tr><td><font style="font-size: 10pt;"><a href="exh_991.htm">99.1</a></font></td><td width="20"><font style="font-size: 10pt;">&#160;</font></td><td><font style="font-size: 10pt;">Press Release of Gladstone Capital Corporation, dated May 3, 2017. </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;"><strong>Gladstone Capital Corporation Reports Financial Results for its Second Quarter Ended March 31, 2017</strong></p><p style="text-align: center;"><p> <p align="left">MCLEAN, Va., May  03, 2017  (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ:GLAD) (the &#8220;Company&#8221;) today announced earnings for its second fiscal quarter ended March 31, 2017.&#160; Please read the Company&#8217;s Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;), which can be retrieved from the SEC&#8217;s website at <em>www.sec.gov</em>, or from the Company&#8217;s website at <em>www.GladstoneCapital.com</em>.<br></p>  <p align="justify"><strong>Summary Information </strong><em>(dollars in thousands, except per share data) (unaudited)</em>:</p> <table style="border-collapse: collapse; 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Received $14.6 million in repayments and net proceeds from portfolio companies.</li><li><strong>Recurring Distributions:</strong> Paid monthly distributions for each of January, February, and March 2017 to common stockholders ($0.07 per common share) and to preferred stockholders ($0.140625 per share of the Company&#8217;s 6.75% Series 2021 Term Preferred Stock).</li></ul>  <p><strong>Second Fiscal Quarter 2017 Results</strong>:</p>  <p>Total investment income decreased by 11.8% compared to the prior quarter primarily due to a decrease in other income of $1.1 million related to success fees collected in conjunction with exits that occurred during the prior quarter. Total expenses decreased by 28.0% quarter over quarter, primarily as a result of a decrease in the net incentive fee and a decrease in professional and other general and administrative expenses.&#160;&#160;&#160;</p>  <p>Net Investment Income for the quarter ending March 31, 2017 was $5.4 million, or $0.21 per share, an increase of 2.9% compared to the prior quarter.&#160;</p>  <p>Net Increase in Net Assets Resulting from Operations for the quarter ended March 31, 2017 and December 31, 2016 was $4.7 million, or $0.18 per share, compared to $0.9 million, or $0.04 per share, respectively. 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While our fee income was off on the quarter, lower expenses and incentive fee credits offset the dip in total investment income and our NII covered 100% of our shareholder distributions. We maintained our investment yield and the portfolio performed well, as the overall valuation was largely unchanged continuing the improving trend in our long term return on equity performance. Between our available capital and health of the lower middle market investment opportunities, we continue to be well positioned to grow our investment portfolio and enhance shareholder returns.&#8221;<br></p>  <p><strong>Conference Call for Stockholders: </strong>The Company will hold its earnings release conference call on Thursday, May 4, 2017, at 8:30 a.m. EDT.&#160; Please call (855) 465-0177 to enter the conference.&#160; An operator will monitor the call and set a queue for any questions. A replay of the conference call will be available through June 4, 2017.&#160; To hear the replay, please dial (855) 859-2056 and use conference number 56272750.&#160; The replay of the conference call 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.GladstoneCapital.com.&#160; The event will be archived and available for replay on the Company&#8217;s website through July 4, 2017.</p>  <p><strong>About Gladstone Capital Corporation:</strong> Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities, consisting primarily of secured first and second lien term loans to lower middle market businesses in the United States.&#160; Including distributions through today, the Company has paid 171 consecutive monthly or quarterly cash distributions on its common stock.&#160; Information on the business activities of all the Gladstone funds can be found at <em>www.GladstoneCompanies.com</em>.&#160;&#160;&#160;</p>  <p>To obtain a paper copy of the Company&#8217;s most recent Form 10-Q, please contact the Company at 1521 Westbranch Drive, Suite 100, McLean, VA 22102, ATTN:&#160; Investor Relations.&#160; 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 quarter ended March 31, 2017, including the notes to the consolidated financial statements contained therein.</p></p><p>Investor Relations Inquiries: Please visit www.gladstone.com or +1-703-287-5893.</p></body></html>
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