Recent Updates — GLAD
On October 22, 2026, Walter H. Wilkinson Jr. resigned from Gladstone Capital Corporation's Board of Directors, effective immediately. Mr. Wilkinson has 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, also effective October 26, 2026. Gladstone Capital Corporation is a business development company that provides financing solutions to middle-market companies.
Gladstone Capital Corporation announced that Michael McQuigg's appointment as President became effective on October 1, 2026. Robert Marcotte stepped down from the President role but remains Chief Executive Officer. McQuigg previously served as Executive Vice President and Senior Managing Director since 2021, focusing on middle market debt and equity investments for private equity sponsors and owner operators. He joined the Gladstone Companies in April 2015 and brings prior experience from Deerpath Capital and H.I.G. Capital. The company operates in the business development industry, providing financing solutions to middle-market companies.
Gladstone Capital Corporation reported financial results for its third fiscal quarter ended June 30, 2026. Net investment income was $11.0 million ($0.49 per share), a 7.0% decrease from the prior quarter, driven by lower other income and higher interest expenses offset by increased net interest income. The company closed on a $60.0 million issuance of 7% notes due December 2029, expanding its bank line availability to over $170 million. Net asset value per share rose 0.7% to $21.50. In July 2026, the Board declared three monthly common stock distributions of $0.15 each and preferred distributions of $0.130208 each for the quarter ending September 30, 2026. The company is a publicly-traded business development company that invests in debt and equity securities primarily consisting of secured first and second lien term loans to lower middle market businesses.