The Company announced that it priced a public offering of $33,750,000 aggregate principal amount of 5.375% Notes due 2024 on October 7, 2019. The Notes will mature on November 1, 2024 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after November 1, 2021. The Notes will bear interest at a rate of 5.375% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning November 1, 2019. The Company also granted the underwriters a 30-day option to purchase up to an additional $5,062,500 in aggregate principal amount of Notes to cover overallotments, if any. The Company expects to list the Notes on the Nasdaq Global Select Market under the trading symbol “GLADL” within 30 days of issuance.
The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about October 10, 2019. As of 2019-10-07, the Fund’s leverage was 39.8% and Debt Focused BDC Group leverage was 46.1%.