The Company announced that it priced a public offering of $110.0 million aggregate principal amount of 7.875% Notes due 2030 (the “Notes”) on December 10, 2024. The Notes will mature on February 1, 2030 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 February 1, 2027. The Notes will bear interest at a rate of 7.875% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning February 1, 2025. The Company also granted the underwriters a 30-day option to purchase up to an additional $16.5 million 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 “GAINI” within 30 days of issuance. Oppenheimer & Co. Inc., B. Riley Securities, Inc. and Lucid Capital Markets, LLC are acting as joint book-running managers for this offering. InspereX LLC, Janney Montgomery Scott LLC and Wedbush Securities Inc. are acting as co-managers for this offering.
The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about December 17, 2024. As of 2024-12-10, the Fund’s leverage was 39.3% and Debt Focused BDC Group leverage was 50.3%.