v3.25.2
Common Stock Transactions
 9 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Common Stock Transactions
Note 11. Common Stock Transactions
On October 6, 2023, the Company entered into the 2023 Equity Distribution Agreement (the “ATM Program”), as most recently amended on May 16, 2025, which provides that the Company may, from time to time, issue and sell shares of its common stock, par value $0.001 per share, having an aggregate offering price of up to $288,043 in an “at the market offering,” as defined in Rule 415 under the Securities Act of 1933, as amended.
For the nine months ended June 30, 2025, the Company issued common stock under the ATM Program as follows:
Total Number of Shares IssuedAverage Offering Price per shareGross ProceedsUnderwriting Fees/Offering ExpensesApproximate Dollar Value of Shares that May Yet be Issued Under the ATM Program
ATM Program2,408,940$15.79 $38,043 $609 $250,000 
On August 1, 2025, the Board reapproved the Program to repurchase up to $150,000 of the Company’s common stock, exclusive of shares repurchased prior to the date of such authorization (the “2025 Program”). Under the Program, purchases may be made at management’s discretion from time to time in open-market transactions, in accordance with all applicable securities laws and regulations. As of June 30, 2025, the repurchased shares have been retired and returned to the status of authorized but unissued shares of GBDC Common Stock.
As of June 30, 2025, Wells Fargo Securities, LLC, as broker, had repurchased 2,864,403 shares of the Company’s common stock pursuant to the 2024 Program at an average price of $14.06 per share for an aggregate purchase price of approximately $40,274.
For the three and nine months ended June 30, 2025, repurchases under the Program were as follows:
Month PurchasedTotal Number of Shares RepurchasedAverage Price Paid Per ShareApproximate Dollar Value of Shares that have been Purchased Under the PlanApproximate Dollar Value of Shares that May Yet be Purchased Under the Plan
March 1 - 31, 202577,777 $14.53 $1,130 $144,062 
April 1 - 30, 20252,285,299 $13.97 $31,918 $112,144 
May 1 - 31, 2025158,199 $14.27 $2,258 $109,886 
June 1 - 30, 202511,200 $14.29 $160 $109,726 
Total2,532,475 $14.00 $35,466 $150,000 *
*The Program was reapproved on August 1, 2025 to purchase $150,000 of the Company’s common stock, exclusive of shares repurchased prior to the date of such authorization. No additional shares have been purchased since the re-approval.
There were no repurchases under the Program for the nine months ended June 30, 2024.
On February 21, 2025, the Company filed an amendment to the Company’s certificate of incorporation to increase the number of authorized shares of capital stock of the Company from 351,000,000 shares to 501,000,000 shares, consisting of 500,000,000 shares of common stock, par value $0.001 per share, and 1,000,000 shares of preferred stock, par value $0.001 per share (the “Certificate of Incorporation Amendment”). The Certificate of Incorporation Amendment became effective immediately upon filing.