Gladstone Investment Corporation (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   September 19, 2014

Gladstone Investment Corporation
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 814-00704 83-0423116
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
1521 Westbranch Drive, Suite 100, McLean, Virginia   22102
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   703-287-5800

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01 Entry into a Material Definitive Agreement.

As originally described in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on June 30, 2014, on June 24, 2014, Gladstone Investment Corporation (the "Company"), through one of its wholly-owned subsidiaries, Gladstone Business Investment, LLC ("Business Investment"), entered into Amendment No. 1 to the Fifth Amended and Restated Credit Agreement, originally entered into on April 30, 2013 (the "Credit Facility"), with Key Equipment Finance, a division of Keybank National Association, as administrative agent, lead arranger and a lender (the "Administrative Agent"), Branch Banking and Trust Company, Everbank Commercial Finance, Inc. and Alostar Bank of Commerce, each as a lender and managing agent, and Gladstone Management Corporation, the Company’s affiliated investment adviser, as servicer (the "Servicer"). Pursuant to Amendment No. 1, the 3-year, $105 million Credit Facility could be expanded by up to $145 million, to a total facility amount of $250 million, through additional commitments of existing or new committed lenders.

On September 19, 2014, the Company increased its borrowing capacity under the Credit Facility from $105 million to $185 million by entering into Joinder Agreements pursuant to the Credit Facility, by and among Business Investment, the Administrative Agent, the Servicer and each of East West Bank, Manufacturers and Traders Trust, Customers Bank and Talmer Bank and Trust.
The Company issued a press release announcing the increase in borrowing capacity, which is attached hereto as Exhibit 99.1. Copies of the Joinder Agreements are attached as Exhibits 10.1, 10.2, 10.3 and 10.4 to this Current Report on Form 8-K.





Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is hereby incorporated by reference into this Item 2.03.





Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and East West Bank.

10.2 Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and Manufacturers and Traders Trust.

10.3 Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and Customers Bank.

10.4 Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and Talmer Bank and Trust.

99.1 Press Release of Gladstone Investment Corporation, dated September 22, 2014.





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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Gladstone Investment Corporation
          
September 22, 2014   By:   /s/ David Watson
       
        Name: David Watson
        Title: Chief Financial Officer & Treasurer

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Exhibit Index


     
Exhibit No.   Description
 
10.1
  Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and East West Bank.
10.2
  Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and Manufacturers and Traders Trust.
10.3
  Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and Customers Bank.
10.4
  Joinder Agreement, dated as of September 19, 2014, by and among the Gladstone Business Investment, LLC, Gladstone Management Corporation, Key Equipment Finance, a division of KeyBank National Association and Talmer Bank and Trust.
99.1
  Press Release of Gladstone Investment Corporation, dated September 22, 2014.