Gladstone Investment Corporation Announces Conditional Redemption of Series A Preferred Stock

MCLEAN, Va., Sept. 19, 2016 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ:GAIN) (the “Company”) today announced the conditional redemption of all 1,600,000 outstanding shares of its 7.125% Series A Cumulative Term Preferred Stock.  This optional redemption in full is contingent upon the closing of an offering of the Company’s newly designated 6.25% Series D Cumulative Term Preferred Stock due 2023 on or prior to September 30, 2016, with gross proceeds to the Company equal to at least $40 million, which equals the aggregate liquidation preference of the outstanding Series A Preferred Stock.  The Company may waive the contingency with respect to the redemption, may authorize a partial redemption and may cancel the redemption at its sole discretion.

Notices of redemption on a conditional basis will be sent with a redemption date of September 30, 2016 at a redemption price of $25.00 per share, which represents the liquidation preference per share of Series A Preferred Stock.  As previously announced on July 12, 2016, the Company will pay the cash dividend on the Series A Preferred Stock of $0.1484375 for the month of September to holders of Series A Preferred Stock as of September 21, 2016, which is the record date for such dividend, on September 30, 2016.

About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and medium-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. The Company has paid 134 consecutive monthly cash distributions on its common stock.

Investor Relations Inquiries: Please visit www.gladstone.com or +1-703-287-5878

Released September 19, 2016