Gladstone Capital (GLAD) Prices Notes Offering

August 10, 2023 5:02 PM EDT

Gladstone Capital Corporation (Nasdaq: GLAD) today announced that it priced a public offering of $50.0 million aggregate principal amount of 7.75% Notes due 2028 (the "Notes") on August 10, 2023. The Notes will mature on September 1, 2028 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after September 1, 2025. The Notes will bear interest at a rate of 7.75% per year payable quarterly on March 1, June 1, September 1 and December 1 of each year, beginning December 1, 2023. The Company also granted the underwriters a 30-day option to purchase up to an additional $7.5 million in aggregate principal amount of Notes to cover overallotments, if any. The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol "GLADZ" within 30 days of issuance. Piper Sandler & Co., Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for this offering.

The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about August 17, 2023.

The Company intends to use the net proceeds from this offering to repay a portion of the amount outstanding under its revolving credit facility, to fund new investment opportunities, and for other general corporate purposes.

Investors are advised to carefully consider the investment objectives, risks, charges and expenses of the Company before investing. The preliminary prospectus supplement, dated August 10, 2023, and the accompanying prospectus, dated December 22, 2021, which have been filed with the U.S. Securities and Exchange Commission (the "SEC"), and the final prospectus supplement, which will be filed with the SEC, 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. 333-261398).

To obtain a copy of the preliminary prospectus supplement or the final prospectus supplement for this offering and the accompanying prospectus, please contact Piper Sandler & Co. by email at [email protected].

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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