Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:05 AM
|This Slide: #272 of 573|
Slide #272. 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 7.0% Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock") in a registered direct placement. -updated 8/2- Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") today announced the pricing of a registered direct placement of 1,230,000 shares of its 7.0% Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock") to select institutional and retail investors. 1,267,968 shares of Series D Preferred Stock were outstanding prior to this offering and 2,497,968 shares of Series D Preferred Stock will be outstanding following the offering, representing an aggregate liquidation value of $62.4 million. The Series D Preferred Stock ranks on parity with the Company's outstanding 7.75% Series A Cumulative Redeemable Preferred Stock, 7.5% Series B Cumulative Redeemable Preferred Stock and 7.125% Series C Cumulative Term Preferred Stock. Shares of the Series D Preferred Stock are listed on NASDAQ's Global Select Market under the trading symbol "GOODM."
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