Gladstone Investment Corp. intends to sell shares of its series E cumulative term preferred stock due 2025 in an underwritten public offering.

The aggregate public offering price, dividend yield and other terms are to be determined by negotiations between the company and the underwriters.

The company hopes to grant the underwriters a 30-day option to purchase additional shares of the series E term preferred stock to cover overallotments, if any.

The company plans to use the net proceeds plus borrowings under its credit facility to redeem outstanding shares of its 6.75% series B cumulative term preferred stock and its 6.50% series C cumulative term preferred stock, and for other general corporate purposes.

BMO Capital Markets Corp., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are serving as joint book-running managers for the offering. B. Riley FBR Inc. is serving as lead manager and JJB Hilliard WL Lyons LLC, Wedbush Securities Inc., William Blair & Co. LLC and National Securities Corp. are serving as co-managers of the offering.