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Item 9A. Controls and Procedures

2021-11-15 compared with 2020-11-10 · 51 added, 100 removed, 245 unchanged (38% of the section changed)

9 unchanged sentences

b) Managements Annual Report on Internal Control Over Financial Reporting

Refer to the Managements Report on Internal Control over Financial Reporting located in Item 8 of this Form 10-K.

Refer to the Managements Report on Internal Control over Financial Reporting located in Item 8 of this

c) Attestation Report of the Registered Public Accounting Firm

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The information required by Item 11 is hereby incorporated by reference from our 2022 Proxy Statement under the captions Executive Compensation and

Director Compensation for Fiscal Year 2020.

Director Compensation.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

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Notes to Consolidated Financial Statements

The following financial statement schedule is filed herewith:

The following

financial statement schedule is filed herewith:

Schedule 12-14 Investments in and Advances to Affiliates as of September

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814-00237), filed September 21, 2017.

Articles Supplementary Establishing and Fixing the Rights and Preferences of Term Preferred Shares, including Exhibit A thereto relating to the

6.00% Series 2024 Term Preferred Stock, incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K (File No.

814-00237), filed

September 21, 2017.

Bylaws, incorporated by reference to Exhibit

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333-208637), filed November 6, 2018.

First Supplemental Indenture between the Registrant and U.S.

Third Supplemental Indenture between Gladstone Capital Corporation and U.S.

Bank National Association, dated as of December

15, 2020, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K (File No.

814-00237), filed December 15, 2020.

Fourth Supplemental Indenture between Gladstone Capital Corporation and U.S.

Bank National Association, dated as of November

6, 2018, incorporated by reference to Exhibit 2.d.11 to Post-Effective Amendment No.

7 to the Registration Statement on Form N-2 (File No.

4, 2021, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K (File No.

814-00237), filed November 4, 2021.

Second Supplemental Indenture between the Registrant and U.S.

Bank National Association, dated as of October

10, 2019, incorporated by reference to Exhibit 2.d.11 to Post-Effective Amendment No.

2 to the Registration Statement on Form N-2 (File No.

333-228720), filed October 10, 2019 .

Description of Securities.

8 unchanged sentences

814-00237), filed October 5, 2006.

Fifth Amended and Restated Credit Agreement, dated as of May

1, 2015, by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, the Lenders and Managing Agents named therein, and Keybank National Association, as Administrative Agent, incorporated by reference to Exhibit

10.1 to the Current Report on Form 8-K (File No.

814-00237), filed May 5, 2015.

Amendment No.

1 to Fifth Amended and Restated Credit Agreement, dated as of October

9, 2015, by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, Keybank National Association, Alostar Bank of Commerce, ING Capital LLC, Newbridge Bank, Santander Bank, N.A.

and Talmer Bank and Trust, collectively

as Lenders, incorporated by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q (File No.

814-00237), filed February 8,

Amendment No.

2 to Fifth Amended and Restated Credit Agreement, dated as of August

18, 2016, by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, Keybank National Association, Alostar Bank of Commerce, ING Capital LLC, Newbridge Bank, Santander Bank, N.A.

and Talmer Bank and Trust, collectively

as Lenders, incorporated by reference to Exhibit 99.2.K.8 to Post-Effective Amendment No.

1 to the Registration Statement on Form N-2 (File

333-208637), filed October 28, 2016.

Amendment No.

3 to Fifth Amended and Restated Credit Agreement, dated August

24, 2017, by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, Keybank National Association, as administrative agent, swingline lender, managing agent and lead arranger and certain other lenders party thereto,

incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K (File No.

814-00237), filed

August 29, 2017.

Amendment No.

4 to Fifth Amended and Restated Credit Agreement, dated as of March

9, 2018, by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, KeyBank National Association, as administrative agent, swingline lender, managing agent and lead arranger and certain other lenders party thereto,

incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K (File No.

814-00237), filed March 12, 2018.

Joinder Agreement, dated as of June

19, 2015, by and among Gladstone Business Loan, LLC, Gladstone Management Corporation, Keybank National Association and Santander Bank, N.A., incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K (File

814-00237), filed June 23, 2015.

Assignment, Acceptance and Joinder, dated as of June

19, 2015, by and between Keybank National Association and Alostar Bank of Commerce, incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K (File No.

filed June 23, 2015.

Assignment and Acceptance, dated as of June

19, 2015, by and between Keybank National Association and Newbridge Bank, incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K (File No.

814-00237), filed June 23, 2015 .

Custodial Agreement, incorporated by reference to Exhibit 2.j.2 to Post-Effective Amendment No.

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333-185191), filed December 23, 2013.

Amendment No.

5 to Fifth Amended and Restated Credit Agreement, dated as of July 10, 2019 by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, KeyBank National Association, as administrative agent, swingline lender, managing

agent and lead arranger and certain other lenders party thereto, incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K (File

814-00237), filed July 10, 2019 .

Second Amended and Restated Investment Advisory and Management Agreement between the Registrant and Gladstone Management Corporation, dated as

of April 14, 2020, incorporated by reference to Exhibit 10.1 to Quarterly Report on Form 10-Q (File No.

814-00237), filed on May 4,

Amendment No.

6 to Fifth Amended and Restated Credit Agreement, dated as of April

29, 2020 by and among Gladstone Business Loan, LLC, as Borrower, Gladstone Management Corporation, as Servicer, KeyBank National Association, as administrative agent, swingline lender, managing agent and lead arranger and certain other lenders party thereto,

incorporated by reference to Exhibit 10.2 to Quarterly Report on Form 10-Q (File No.

814-00237), filed on May 4, 2020.

Third Amended and Restated Investment Advisory and Management Agreement between the Registrant and Gladstone Management Corporation, dated as

of April 13, 2021, incorporated by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q (File No.

814-00237), filed on

Sixth Amended and Restated Credit Agreement dated as of May

13, 2021 by and among Gladstone Business Loan, LLC as Borrower, Gladstone Management Corporation as Servicer, KeyBank National Association, as Administrative Agent and the financial institutions from the time to time party thereto, incorporated by reference

to Exhibit 10.1 to the Current Report on Form 8-K (File No.

814-00237), filed May 13, 2021.

Subsidiaries of the Registrant.

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Certification of Chief Financial Officer pursuant to section 906 of The Sarbanes-Oxley Act of 2002.

Report of Independent Registered Public Accounting Firm.

Filed herewith

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September 30,

INVESTMENTS 14.2%

AFFILIATE INVESTMENTS25.8%

Secured First Lien Debt9.1%

Diversified/Conglomerate Manufacturing1.7%

Edge Adhesives Holdings, Inc.

Credit, $0 available (L + 8.0%, 10.0% Cash, Due 12/2020)

Edge Adhesives Holdings, Inc.

(L + 10.5%, 12.5% Cash, Due 2/2022)

Edge Adhesives Holdings, Inc.

(L + 11.8%, 13.8% Cash, Due 2/2022)

Edge Adhesives Holdings, Inc.Line of Credit

Edge Adhesives Holdings, Inc.Term Debt (L + 10.5%, 12.5% Cash, Due 2/2022)

Edge Adhesives Holdings, Inc.Term Debt (G)

Diversified/Conglomerate Service7.4%

Encore Dredging Holdings, LLCLine of Credit, $3,000 available (L + 8.0%, 9.0% Cash, Due

Encore Dredging Holdings, LLCTerm Debt (L + 8.0%, 9.0% Cash, Due

Encore Dredging Holdings, LLCDelayed Draw Term Loan, $5,000 available (L + 8.0%, 9.0% Cash,

Due 12/2025) (F)

Total Secured First Lien Debt

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Lignetics, Inc.Term Debt (L + 9.8%, 11.8% Cash, Due 6/2026)

Lignetics, Inc.Term Debt (L + 9.0%, 12.0% Cash) (F)

Personal and Non-Durable Consumer Products

(Manufacturing Only)0.0%

Canopy Safety Brands, LLC.Term

Total Secured Second Lien Debt

Lignetics, Inc.Term Debt (L + 9.8%, 11.8% Cash, Due 6/2026)

Preferred Equity 3.4%

Diversified/Conglomerate Manufacturing 0.0%

Edge Adhesives Holdings, Inc.Preferred Stock

Diversified/Conglomerate Service1.4%

Encore Dredging Holdings, LLCPreferred Stock (F)

Investment (A)(B)(I)(L)(M)

5 unchanged sentences

September 30,

Preferred Equity0.9%

Diversified/Conglomerate Manufacturing0.0%

Edge Adhesives Holdings, Inc.Preferred Stock

Diversified Natural Resources, Precious Metals and Minerals1.8%

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Printing and Publishing0.4%

TNCP Intermediate HoldCo, LLCLine of Credit, $500 available

(8.0% Cash, Due 9/2021) (J)

Investment (A)(B)(I)(L)(M)

Shares/Units (K)

September 30,

Additions (D)

Reductions (E)

(Depreciation)

September 30,

TNCP Intermediate HoldCo, LLCLine of Credit, $500 available (8.0% Cash, Due 9/2021) (J)

Total Secured First Lien Debt

11 unchanged sentences

Defiance Integrated Technologies, Inc.Common Stock

Investment (A)(B)(I)(L)(M)

Shares/Units (K)

September 30,

Additions (D)

Reductions (E)

(Depreciation)

September 30,

Diversified/Conglomerate Manufacturing0.0%

6 unchanged sentences

TOTAL CONTROL INVESTMENTS

Certain of the securities listed in this schedule are issued by affiliate(s) of the indicated portfolio company.

Certain of the securities listed in this schedule are issued by affiliate(s) of the indicated portfolio

Common stock, warrants, options, membership units and, in some cases, preferred stock are generally non-income producing and restricted.

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repayments or sales, the amortization of premiums and acquisition costs, and the exchange of one or more existing securities for one or more new securities.

Investment was paid off at par during the year ended September 30, 2020.

New investment during the year ended September 30, 2021.

Investment was exited/paid off during the year ended September 30, 2021.

Debt security does not have a stated interest rate that is payable thereon.

Interest rate percentages represent cash interest rates in effect at September 30, 2021, and due dates

represent the contractual maturity

Unless indicated otherwise, all cash interest rates are indexed to 30-day London Interbank Offered Rate (LIBOR), which was 0.15% as of

September 30, 2020.

If applicable, paid-in-kind (PIK) interest rates are noted separately from the cash interest rates and any unused line of credit

fees are excluded.

represent the contractual maturity date.

Unless indicated otherwise, all cash interest rates are indexed to 30-day London Interbank Offered Rate (LIBOR), which was 0.08% as of September 30,

If applicable, paid-in-kind (PIK) interest rates are noted separately from the cash interest rates and any unused line of credit fees are excluded.

Debt security has a fixed interest rate.

Represents the principal balance for debt investments and the number of shares/units held for equity investments

as of September 30, 2020.

Represents the principal balance for debt investments and the number of shares/units held for equity

investments as of September 30, 2021.

Warrants are represented as a percentage of ownership, as applicable.

1 unchanged sentence

Accounting Standard Codification (ASC) Topic 820, Fair Value Measurements and Disclosures (ASC 820) fair value hierarchy.

Refer to Note 3 Investments in the accompanying Notes to Consolidated Financial

Statements for additional information.

Refer to Note 3 Investments in the accompanying Notes to Consolidated

Financial Statements for additional information.

Category percentages represent the fair value of each category and subcategory as a percentage of net assets as

5 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures