Gladstone Investment Corporation
GLADSTONE INVESTMENT CORPORATION\DE (Form: 8-K, Received: 10/10/2017 17:15:15)
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________

Form 8-K
_____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): October 10, 2017  

Gladstone Investment Corporation
(Exact Name of Registrant as Specified in Charter)

Delaware 814-00704 83-0423116
(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number)

 

1521 Westbranch Drive, Suite 100, McLean, Virginia 22102
(Address of Principal Executive Offices) (Zip Code)

(703) 287-5800
(Registrant's telephone number, including area code)


(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

  [   ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [   ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [   ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [   ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [    ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [    ]

 
 

Item 7.01. Regulation FD Disclosure.

On October 10, 2017, Gladstone Investment Corporation (the “Company”) issued a press release, filed herewith as Exhibit 99.1, announcing that its board of directors declared monthly cash distributions for the Company’s common stock, 6.75% Series B Cumulative Term Preferred Stock, 6.50% Series C Cumulative Term Preferred Stock, and 6.25% Series D Cumulative Term Preferred Stock for each of October, November, and December 2017. The Company also announced that its board of directors declared a supplemental distribution to common stockholders for December 2017.

The information disclosed under this Item 7.01, including portions of Exhibit 99.1 attached hereto regarding the monthly cash distributions, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, and shall not be deemed incorporated by reference into any filings made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d)           Exhibits.

Exhibit No.   Description
99.1   Press Release issued by Gladstone Investment Corporation, dated October 10, 2017.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  Gladstone Investment Corporation
     
   
Date: October 10, 2017 By:  /s/ Nicole Schaltenbrand        
    Nicole Schaltenbrand
    Acting Principal Financial Officer
   


EXHIBIT INDEX  

Exhibit No.   Description
99.1   Press Release issued by Gladstone Investment Corporation, dated October 10, 2017.

EXHIBIT 99.1

Gladstone Investment Increases Monthly Cash Distributions to Common Stockholders and Announces Monthly Cash Distributions, including a Supplemental Distribution to Common Stockholders, and Second Fiscal Quarter Earnings Release and Conference Call Dates

MCLEAN, Va., Oct. 10, 2017 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ:GAIN) (the “Company”) announced today that its board of directors declared the following monthly cash distributions to preferred and common stockholders, increasing distributions to common stockholders by more than 1%.  The Company also announced it will pay a supplemental distribution of $0.06 per share to holders of its common stock in December 2017. In this regard, the Company anticipates continuing to pay semi-annual, supplemental distributions each fiscal year. These payments are generally expected to be primarily made from undistributed net capital gains, but may also be made from undistributed net investment income, which the Company anticipates it will continue to generate in the future. The Company’s board of directors will evaluate the amount and timing of additional, semi-annual, supplemental distributions in future periods.  The Company also announced its plan to report earnings for the second fiscal quarter ended September 30, 2017.

Common Stock: $0.065 per share of common stock for each of October, November and December 2017, payable per the table below. The Company has paid 147 consecutive monthly cash distributions on its common stock.

Record Date Payment Date Cash Distribution
October 20 October 31 $0.065
November 20 November 30 $0.065
December 5 December 15  $0.06*
December 19 December 29 $0.065
Total for the Quarter: $0.255
   

* Denotes supplemental distribution to common stockholders.

Series B Term Preferred Stock: $0.140625 per share of the Company’s 6.75% Series B Cumulative Term Preferred Stock (“Series B Term Preferred Stock”) for each of October, November and December 2017, payable per the table below. The Series B Term Preferred Stock trades on the NASDAQ under the symbol “GAINO.”

Record Date Payment Date Cash Distribution
October 20 October 31 $0.140625
November 20 November 30 $0.140625
December 19 December 29 $0.140625
Total for the Quarter: $0.421875
   

Series C Term Preferred Stock: $0.135417 per share of the Company’s 6.50% Series C Cumulative Term Preferred Stock (“Series C Term Preferred Stock”) for each of October, November and December 2017, payable per the table below. The Series C Term Preferred Stock trades on the NASDAQ under the symbol “GAINN.”

Record Date Payment Date Cash Distribution
October 20 October 31 $0.135417
November 20 November 30 $0.135417
December 19 December 29 $0.135417
Total for the Quarter: $0.406251
   

Series D Term Preferred Stock: $0.13020833 per share of the Company’s 6.25% Series D Cumulative Term Preferred Stock (“Series D Term Preferred Stock”) for each of October, November and December 2017, payable per the table below. The Series D Term Preferred Stock trades on the NASDAQ under the symbol “GAINM.”

Record Date Payment Date Cash Distribution
October 20 October 31 $0.13020833
November 20 November 30 $0.13020833
December 19 December 29 $0.13020833
Total for the Quarter: $0.39062499
   

The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders. For more information regarding the DRIP, please visit www.gladstoneinvestment.com.

Earnings Announcement:

The Company also announced today that it plans to report earnings after the stock market closes on Wednesday, November 1, 2017, for the second quarter ended September 30, 2017. The Company will hold a conference call on Thursday, November 2, 2017 at 8:30 a.m. EDT to discuss its earnings results. Please call (855) 376-7516 to enter the conference call.  An operator will monitor the call and set a queue for questions.

A conference call replay will be available beginning one hour after the call and will be accessible through December 2, 2017. To hear the replay, please dial (855) 859-2056 and use playback conference number 54419498.

The live audio broadcast of the Company’s conference call will be available online at www.gladstoneinvestment.com. The event will also be archived and available for replay on the Company’s website through January 2, 2018.

Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.

For further information: Gladstone Investment Corporation, +1-703-287-5893