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Gladstone Capital to redeem preferred stock

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Gladstone Capital to redeem preferred stock

Gladstone Capital Corp. plans to redeem on Oct. 2 all outstanding shares of its 6.00% series 2024 term preferred stock due 2024.

The company will redeem the shares at $25.004166 per share. The redemption price represents the liquidation preference of $25.00 per share, plus accrued and unpaid dividends through Oct. 1 of 0.4166 of a cent per share.

The redemption price payment will be made after the payment of the September dividend of 12.5 cents per share to holders of record on Sept. 17.

Gladstone Capital intends to use borrowings under its credit facility to fund the redemption.