MCLEAN, Va., Aug. 14, 2018 (GLOBE NEWSWIRE) — Gladstone Investment Corporation (Nasdaq: GAIN) (the “Companyâ€) today announced that it plans to sell shares of its newly designated Series E Cumulative Term Preferred Stock due 2025 (the “Series E Term Preferred Stockâ€) in an underwritten public offering. The aggregate public offering price, dividend yield and other terms are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Series E Term Preferred Stock on the same terms and conditions solely to cover over-allotments, if any. BMO Capital Markets Corp., Janney Montgomery Scott LLC, and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), are serving as joint book-running managers. B. Riley FBR, Inc. is serving as lead manager and J.J.B. Hilliard, W.L. Lyons, LLC, Wedbush Securities Inc., William Blair & Company, L.L.C., and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NasdaqCM: NHLD), are serving as co-managers of the offering.
The Company intends to use the net proceeds from this offering plus borrowings under its credit facility, as necessary, to redeem outstanding shares of its 6.75% Series B Cumulative Term Preferred Stock and its 6.50% Series C Cumulative Term Preferred Stock and for other general corporate purposes.
Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated August 14, 2018 and the accompanying prospectus, dated July 13, 2018, which have been filed with the Securities and Exchange Commission (“SECâ€), contain this and other information about the Company and should be read carefully before investing.
The offering is being conducted as a public offering under the Company’s effective shelf registration filed with the SEC (File No. 333-225447).
