Recent Updates — GAINI
On October 22, 2026, Walter H. Wilkinson Jr. resigned from the Board of Directors effective immediately. He served as a director since 2014 and as Lead Independent Director since 2024. The Board elected George “Chip” Stelljes III to succeed him as Lead Independent Director, effective October 26, 2026. Following the resignation, the Board fixed the number of directors at seven. Gladstone Investment Corporation is a business development company that invests in middle-market companies.
On October 1, 2026, Erika Highland officially assumed the role of President at Gladstone Investment Corporation. This appointment follows a prior announcement on March 23, 2026, and marks her transition from Executive Vice President to the top operational leadership position. Concurrently, David Dullum stepped down as President but retained his position as Chief Executive Officer. Highland brings extensive experience to the role, having served as Senior Managing Director since October 2023 and leading investment activities for numerous portfolio companies within the Gladstone network. She holds a Bachelor of Science in Business Administration from Boston College and previously worked at Wells Fargo Retail Finance and A.G. Edwards. The company operates in the business development industry, providing capital to middle-market companies.
Gladstone Investment Corporation reported first-quarter fiscal 2026 results ending June 30, 2026. Net investment income was $15.9 million ($0.40 per share), a reversal from the prior quarter's loss, driven by lower incentive fee accruals and higher investment income. Net asset value declined 3.2% to $16.24 per share due to unrealized depreciation of $18.8 million and realized losses. The company repaid its $127.9 million in 5.00% Notes due 2026 at maturity and amended its credit facility, increasing the commitment to $405.0 million with a June 2031 maturity. In July 2026, the Board declared monthly distributions of $0.08 per share for July, August, and September. The company also invested $56.5 million in DHE Computer Systems and entered an agreement to acquire Extrude Hone LLC. Gladstone Investment Corporation is a publicly traded business development company that makes secured debt and equity investments in lower middle market businesses.
Gladstone Investment Corporation's portfolio company, SFEG Holdings, Inc., has agreed to the sale of Specialized Fabrication Equipment Group LLC to Enerpac Tool Group Corporation. The Company expects to receive full repayment of its debt investment and the realization of a significant capital gain on its equity interest in SFEG. Gladstone Investment Corporation is a business development company that provides capital to middle-market companies in the United States.