<SEC-DOCUMENT>0001193125-23-262523.txt : 20240110
<SEC-HEADER>0001193125-23-262523.hdr.sgml : 20240110
<ACCEPTANCE-DATETIME>20231025114327
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-262523
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20231025

FILER:

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

	FILING VALUES:
		FORM TYPE:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g331805g0829131339651.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">William J. Tuttle</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">To Call Writer Directly:</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">+1 202 389
3350</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">william.tuttle@kirkland.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">1301 Pennsylvania Avenue, N.W.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Washington, D.C. 20004</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">United
States</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">+1 202 389 5000</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">www.kirkland.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Facsimile:</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">+1 202 389 5200</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">October&nbsp;25, 2023 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By EDGAR </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Investment Management </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Kimberly Browning </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#8201;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement on Schedule 14A </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Gladstone Capital
Corporation, a Maryland corporation (the &#147;<U>Company</U>&#148;), we hereby respond to the comments raised by the staff (the &#147;<U>Staff</U>&#148;) of the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) regarding
(1)&nbsp;the Company&#146;s Preliminary Proxy Statement on Schedule 14A, filed on August&nbsp;31, 2023 (File <FONT STYLE="white-space:nowrap">No.&nbsp;814-00237</FONT> and Accession
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">No.&nbsp;0001193125-23-226374),</FONT></FONT> (2) the Company&#146;s response letter filed on September&nbsp;20, 2023 (Accession <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">No.&nbsp;0001193125-23-238530),</FONT></FONT> (3) the Company&#146;s response letter filed on October&nbsp;10, 2023 (Accession
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">No.&nbsp;0001193125-23-253150),</FONT></FONT> (4) the Company&#146;s response letter filed on October&nbsp;16, 2023 (Accession <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">No.&nbsp;0001193125-23-256814)</FONT></FONT> and (5)&nbsp;the Company&#146;s response letter filed on October&nbsp;18, 2023 (Accession
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">No.&nbsp;0001193125-23-258395)</FONT></FONT> in a telephone call on October&nbsp;24, 2023 between Daniele Marchesani, Tom Ahmadifar, Thankham Varghese and Kimberly Browning of the
Staff and William J. Tuttle and Erin M. Lett of Kirkland&nbsp;&amp; Ellis LLP, outside counsel to the Company. For your convenience, a transcription of the Staff&#146;s comments is included in this letter, with each comment followed by the
Company&#146;s response. Except as provided in this letter, terms used in this letter have the meanings given to them in the Preliminary Proxy Statement. The Company understands that, although the Staff neither agrees nor disagrees with the
Company&#146;s proposed approach, the Staff will not pursue this matter further, subject to the Company revising the Proxy Statement as set forth herein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Austin&#8195;Bay&nbsp;Area&#8195;Beijing&#8195;Boston&#8195;Brussels&#8195;Chicago&#8195;Dallas&#8195;Hong&nbsp;
Kong&#8195;Houston&#8195;London&#8195;Los&nbsp;Angeles&#8195;Miami&#8195;Munich&#8195;New&nbsp;York&#8195;Paris&#8195;Salt&nbsp;Lake&nbsp;City&#8195;Shanghai </P>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g331805g1010004456721.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 25, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.&#8195;Please reconfirm that the proxy statement relating to a similar proposal filed by Gladstone Investment Corporation (&#147;<U>GAIN</U>&#148;) is
and will be materially the same as the Company&#146;s proxy statement, except for (1)&nbsp;the names of the registrants, (2)&nbsp;matters related to the respective dates and states of incorporation, (3)&nbsp;matters related to the dates of the
respective annual stockholder meetings, (4)&nbsp;directors and officers, (5)&nbsp;fee waivers granted by the Adviser to the Company, (6)&nbsp;the terms and rates of the fees payable under the applicable investment advisory agreements, (7)&nbsp;the
applicable loan servicing arrangements of the Company and GAIN and (8)&nbsp;beneficial ownership of shares. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> The Company reconfirms
that the Company&#146;s Proxy Statement and that of GAIN is and will be materially the same except for the items noted above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.&#8195;Please add the
following disclosure to the Proxy Statement: &#147;The Company will not execute the New Advisory Agreement if there is a change in control of the Adviser other than the one specifically described in this Proxy Statement, or other event that would
cause the New Advisory Agreement to terminate pursuant to the 1940 Act, if already executed.&#148; </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> As requested, the Company will
revise the disclosure in the Proxy Statement to add this sentence. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.&#8195;Assuming the Company&#146;s shareholders approve the proposal for a New
Advisory Agreement, the Company should supplement its registration statement to explain the results of the proxy vote as this information is material in nature. In particular, the Company should explain the related
<FONT STYLE="white-space:nowrap">pre-approval</FONT> timing provision while that provision is in place since a new investor in the Company during the interim period might not be aware of the proxy vote, and thus the fact that the investment advisory
agreement being used at the time of their purchase will terminate once the interim period ends and be replaced simultaneously with a new investment advisory agreement. The staff would not object to the Company adding this information pursuant to its
prospectus by filing a prospectus supplement pursuant to Rule 424 under the Securities Act. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> As requested, the Company will add such
disclosure to (1)&nbsp;the Form <FONT STYLE="white-space:nowrap">8-K</FONT> announcing the results of the proxy vote (which Form <FONT STYLE="white-space:nowrap">8-K</FONT> will be incorporated by reference into the Company&#146;s registration
statement), (2) any new registration statement filed prior to execution of the New Advisory Agreement and (3)&nbsp;the prospectus supplement for any new offering of securities conducted prior to execution of the New Advisory Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * * * </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g331805g1010004456721.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 25, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 3 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions, please feel free to contact the undersigned by telephone at 202.389.3350 (or by email at william.tuttle@kirkland.com) or
Erin&nbsp;M.&nbsp;Lett by telephone at 202.389.3353 (or by email at erin.lett@kirkland.com). Thank you for your cooperation and attention to this matter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:68%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:68%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><U>/s/ William J. Tuttle&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:68%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">William J. Tuttle </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">David Gladstone, Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#8201;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael LiCalsi, Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#8201;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Nicole Schaltenbrand, Gladstone Capital Corporation </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#8201;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Erin M. Lett, Kirkland&nbsp;&amp; Ellis LLP </P></TD></TR></TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g331805g0829131339651.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g331805g0829131339651.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  A .X# 2(  A$! Q$!_\0
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M_P"N%Q_[3HHH \_TO_D6/%?^\G_HQZ;\3.NK?]=K+_T">BB@#0\%?\?VH_\
M7F/_ $5#61<_\D^UK_KSTS_T%*** *'A/_D=_#O_ %Z+_)J]$UW_ )#FI_\
M8!E_]"-%% &1KG_(U^%O^N4/_HQ:A@_U>H?]@K4O_2@T44 0_$/_ )!LO_8-
MA_\ 1RUE6O\ R)=Y_NV'\J** )/A5_R"?#G_ %\WO_H"U8L/^/G3/]ZS_P#2
BV:BB@"=?^3B&_P"P?_[)7J5%% !1110 4444 %%%% '_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g331805g1010004456721.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g331805g1010004456721.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  1 ,(# 2(  A$! Q$!_\0
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,0 4444 )1110!__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
