Gladstone Capital Stock Drops 8%

(RTTNews) - Gladstone Capital Corporation (GLAD) fell 8.61 percent to $23.82 on Tuesday, down $2.24, possibly after the company announced a $110 million registered public offering of unsecured convertible notes due 2030, yesterday. The offering also includes an option for underwriters to purchase up to an additional $16.5 million in notes.

The stock opened at $25.62 and traded between $23.85 and $25.63 during the session, compared with a prior close of $26.06 on the Nasdaq. Trading volume rose to 433,092 shares, well above the average of 83,883.

Gladstone shares now trade within a 52-week range of $21.96 to $30.43.