The shareholders of Gladstone Capital (GLAD) have given them permission to raise equity below Net Asset Value. The BDC Reporter-wearing its actvisit hat-believes this will be good for the external manager, but not the shareholders and explains why. We end by discussing the BDC-wide implications of this story.
With half the Business Development Companies having reported earnings for the second quarter, we have a look at the direction of the sector and highlight a number of developments underway. It's just a snapshot and not a comprehensive review. We'll have a full survey once earnings season is over.