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Gladstone Investment board approves lower asset coverage ratio

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Gladstone Investment board approves lower asset coverage ratio

Gladstone Investment Corp.'s board approved a reduction in the required asset coverage ratio for senior securities to 150% from 200%.

The change in the required asset coverage ratio will be effective one year after April 10, when the board approved it.

The company is separately subject to a minimum asset coverage requirement of 200% related to certain provisions of its credit facility and three series of mandatorily redeemable preferred stock.