Gladstone Investment Corporation released an investor presentation summarizing its position as of March 31, 2025, the end of its fiscal year. The investment portfolio was valued at $979.3 million across 25 portfolio companies.
The company maintained a strong asset coverage ratio of 204.4%, well above the regulatory requirement of 150%, indicating a solid capital buffer. GAIN reported $55.3 million, or $1.50 per share, in spillover income, providing a strong foundation to cover current monthly distributions and support supplemental distributions.
GAIN's liquidity position was robust, with a $270 million Credit Facility having full availability, providing substantial dry powder for new investments. The Credit Facility matures in October 2028, with a revolving period ending in October 2026.
The company had also strategically accessed the unsecured debt market, issuing $126.5 million of 7.88% Notes due 2030 in December 2024 and $74.8 million of 8.00% Notes due 2028 in May 2023, adding to its fixed-rate liabilities.
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