UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported) December 28, 2006

 

 

Gladstone Investment Corporation

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

814-00704

 

83-0423116

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

 

 

 

 

 

 

 

 

 

1521 Westbranch Drive, Suite 200

 

 

McLean, Virginia

 

22102

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (703) 287-5800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



 

Item 8.01 Other Events.

 

On December 28, 2006, Gladstone Investment Corporation invested approximately $22.9 million in Acme Cryogenics, Inc. (“Acme”) and its subsidiaries through the purchase of common and preferred equity securities and mezzanine debt.  Acme, based in Allentown, PA, was founded in 1969 and manufactures manifolds used in regulating the flow of industrial gasses at extremely low temperatures (cryogenic), manufactures vacuum insulated pipe used in the transmission of gasses that have been liquefied, repairs cryogenic storage tanks, and repairs and manufactures tank trailers used in transporting liquid nitrogen, oxygen, helium, etc.

The investment is comprised of approximately $8.4 million in preferred and common stock of Acme and $14.5 million of subordinated notes from Acme and its subsidiaries.  Gladstone Investment Corporation financed the investment using proceeds from borrowing under its revolving credit facility with Deutsche Bank A.G.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Gladstone Investment Corporation

 

 

(Registrant)

 

 

 

 

 

 

January 3, 2007

 

By:/s/ Harry Brill

 

 

(Harry Brill, Chief Financial Officer)