Gladstone Capital’s debt investments primarily consist of three types of loans to small and medium sized businesses in the United States: senior term loans, senior subordinated loans, and junior subordinated loans. Loans typically range from $7 million to $30 million with terms of up to seven years. Gladstone Capital’s equity investments typically take the form of preferred or common equity (or warrants to acquire the foregoing). Historically, as Gladstone Capital has primarily been a debt fund, it aims to maintain a portfolio consisting of approximately 90% debt investments and 10% equity investments, at cost. In addition to its common stock, Gladstone Capital has issued a 6.00% Series 2024 Term Preferred Stock, which is also listed on NASDAQ under the symbol “GLADN.”
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