Gladstone Investment Corp 8.00% Notes due 2028

GAINL

Gladstone Investment (NASDAQ:GAIN ) Q1 2026 Earnings Conference Call August 13, 2025 8:30 AM ET Company Participants Catherine Gerkis - Director of Investor Relations & ESG David A. R. Dullum - President David John Gladstone - Chairman & CEO Taylor Ritchie - CFO & Treasurer Conference Call Participants Erik Edward Zwick - Lucid Capital Markets, LLC, Research Division Mickey Max Schleien - Ladenburg Thalmann & Co. Inc., Research Division Sean-Paul Aaron Adams - B.

Gladstone Investment is a strong BDC, but its common stock is risky due to high leverage, concentrated holdings, and a premium valuation. Baby bonds GAINI and GAINZ offer attractive yields (8.06%-8.16%) with lower risk and higher capital protection than the common stock. Leveraged baby bonds deliver a solid 10.74%-10.94% ROE, slightly below the common stock, but with much less volatility and risk.

Gladstone Investment (NASDAQ:GAIN ) Q4 2025 Earnings Conference Call May 14, 2025 8:30 AM ET Company Participants David Gladstone - Chairman and Chief Executive Officer Michael LiCalsi - General Counsel and Secretary David Dullum - President Taylor Ritchie - Chief Financial Officer Conference Call Participants Mickey Schleien - Ladenburg Erik Zwick - Lucid Capital Markets Operator Greetings and welcome to Gladstone Investment Corporation Fourth Quarter and Year End Earnings Conference Call. At this time all participants are on a listen-only mode.

Gladstone Investment (NASDAQ:GAIN ) Q3 2025 Earnings Conference Call February 12, 2025 11:00 AM ET Company Participants David Gladstone - CEO Michael LiCalsi - General Counsel and Secretary Dave Dullum - President Taylor Ritchie - CFO Conference Call Participants Matthew Hurwit - Jefferies Operator Greetings, and welcome to Gladstone Investment Corporation's Third Quarter Earnings Call. At this time, all participants are in a listen-only mode.

January saw five new preferred stock and exchange traded debt offerings with yields ranging from 6.5% to 9.125%. Notable new offerings include Gladstone Investment Corp.'s notes at 7.875%, American National Group's preferred stock at 7.375%, and Southern Company's notes at 6.5%. Investors can purchase new preferred stocks at wholesale prices on the OTC exchange, potentially avoiding capital loss if prices drop.

We take a look at the action in preferreds and baby bonds through the second week of December and highlight some of the key themes we are watching. All preferred stock sectors declined as longer-term Treasury yields rose; mREITs outperformed due to SOFR Fix/Float and CMT Reset preferreds. BDC GAIN issued a 7.875% 2030 baby bond.

Gladstone Investment (NASDAQ:GAIN ) Q2 2025 Earnings Call Transcript November 8, 2024 8:30 AM ET Company Participants David Gladstone - CEO Michael LiCalsi - General Counsel and Secretary Dave Dullum - President Rachael Easton - CFO Conference Call Participants Mickey Schleien - Ladenburg Thalmann Bryce Rowe - B. Riley Securities Matthew Hurwit - Jefferies Operator Greetings.

We take a look at the action in business development companies through the second week of October and highlight some of the key themes we are watching. BDCs were down on the week, with PSEC and TPVG underperforming. GAIN's large special dividend led to a significant stock rally pre-ex-div date; the dividend capture strategy proved ineffective, as the stock opened down more than the dividend.

Gladstone Investment (NASDAQ:GAIN ) Q1 2025 Earnings Conference Call August 6, 2024 8:30 AM ET Company Participants David Gladstone - Chairman and Chief Executive Officer Michael LiCalsi - General Counsel and Secretary Dave Dullum - President Rachael Easton - Chief Financial Officer Conference Call Participants Mickey Schleien - Ladenburg Thalmann Bryce Rowe - B. Riley Securities Operator Greetings and welcome to the Gladstone Investment Corporation First Quarter Earnings Call.

We take a look at the action in business development companies through the fourth week of May and highlight some of the key themes we are watching. Rules of thumb about rising rates driving poor BDC performance has not panned out. We highlight the SAR dividend raise and GAIN valuation.