---
schema_version: "secwatch.filing_event.v1"
accession: "0001321741-25-000006"
form_type: "8-K"
ticker: "GAIN"
cik: "0001321741"
company_name: "GLADSTONE INVESTMENT CORPORATION\\DE"
filed_at: "2025-02-12T23:59:59+00:00"
generated_at: "2026-05-26T22:45:55.930942+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Gladstone Investment Q3 net investment income $0.03/sh, down 85% from prior Q; NAV $13.30

## Summary
- Net investment income $1.2M ($0.03/sh) vs $7.3M ($0.20/sh) in prior Q; adjusted NII $0.23/sh (4% decline).
- Total investment income $21.4M (down 5.3%); expenses rose 32% to $20.2M on incentive fee accruals.
- Invested $187M in three new companies: Pyrotek, Nielsen-Kellerman, Ricardo; portfolio at fair value $1.07B.
- NAV per share $13.30 (up 6.5% from $12.49) driven by $37.3M unrealized appreciation.
- Issued $126.5M of 7.875% Notes due 2030; subsequently amended credit facility to $250M.

## SEC filing metadata
- accession: 0001321741-25-000006
- form_type: 8-K
- ticker: GAIN
- cik: 0001321741
- company_name: GLADSTONE INVESTMENT CORPORATION\DE
- filed_at: 2025-02-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1321741/000132174125000006/0001321741-25-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1321741/000132174125000006/gain-20250212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001321741-25-000006
- JSON: https://secwatch.observer/filing/0001321741-25-000006.json
- Plain text: https://secwatch.observer/filing/0001321741-25-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.