Gladstone Capital Corporation is an externally managed closed-end investment company and Business Development Company that invests primarily in secured debt and equity securities of established private businesses in the lower middle market, typically companies with annual EBITDA between $3 million and $25 million. The company generates revenue primarily through interest income on first and second lien loans structured with variable or fixed rates, supplemented by dividend income from equity investments and prepayment or success fees from exits and refinancings. Gladstone finances its operations through a combination of revolving credit facilities, public debt offerings, and equity issuances, while maintaining required asset coverage ratios and distributing substantially all of its taxable income to shareholders in compliance with its status as a regulated investment company.