Gladstone issues $100M 7.125% notes due 2031; B. Riley boosts target to $14.50
Gladstone priced $100M of 7.125% notes due 2031, redeemable from 2028, with a 30-day $15M overallotment option and plans to list them on the Nasdaq Global Select Market under GAING. B. Riley raised its price target to $14.50 from $14, reflecting an improved valuation.
1. Notes Offering Details
Gladstone priced an aggregate $100.0 million of 7.125% notes due May 1, 2031, with interest payable quarterly beginning May 1, 2026. The notes may be redeemed in whole or in part from May 1, 2028, and underwriters hold a 30-day option to purchase an additional $15.0 million. The company expects closing on February 18, 2026 and listing under the trading symbol GAING on the Nasdaq Global Select Market within 30 days.
2. Price Target Increase
B. Riley raised its price target on Gladstone Investment Corporation shares to $14.50 from $14.00, marking a 3.6% increase in the forecast valuation.