Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 10:36 AM
|This Slide: #106 of 573|
Slide #106. Gladstone Commercial Corporation — Preferred Stock Offering
Gladstone Commercial Corporation (NASDAQ:GOOD)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Gladstone Commercial Corporation (Nasdaq: GOOD) (the "Company") today announced that it plans to sell shares of its newly designated Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock") in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Series E Preferred Stock on the same terms and conditions. -updated 9/26- Gladstone Commercial Corporation (Nasdaq: GOOD) (the "Company") today announced that it has priced an underwritten public offering of 2,400,000 shares of its newly designated 6.625% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock") at a public offering price of $25.00 per share, raising $60.0 million in gross proceeds and approximately $57.9 million in net proceeds after payment of underwriting discounts and commissions and estimated expenses of the offering payable by the Company and exclusive of the underwriters' option to purchase additional shares (as described below). The Company has also granted the underwriters a 30-day option to purchase 360,000 additional shares of Series E Preferred Stock on the same terms and conditions. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on October 4, 2019.
Gladstone Commercial is a holding company. Through its subsidiaries, Co. is engaged as a real estate investment trust. Co. focuses on acquiring, owning, and managing primarily office and industrial properties. Co. conducts substantially all of its business activities through an Umbrella Partnership Real Estate Investment Trust structure, by which all of Co.'s properties are held, directly or indirectly, by Gladstone Commercial Limited Partnership (the Operating Partnership). Co. controls the sole general partner of the Operating Partnership and owns, directly or indirectly, approx. 98.6% of the common units of limited partnership interest in the Operating Partnership.
Open the GOOD Page at Preferred Stock Channel »
Free GOOD Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Buy (3.40 out of 4)
(ranked lower than approx. 54% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com