PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:43 PM
| This Slide: #325 of 609 |
Slide #325. Gladstone Commercial Corporation — Preferred Stock Offering
Company:
Gladstone Commercial Corporation (NASDAQ:GOOD)
Date announced:
5/16/2016
Shares Offered:
1,043,725
Date of Pricing:
5/20/2016
Price Per Share:
$25.00
Preferred Stock Offering Details:
Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") today announced that it plans to sell shares of its newly designated Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock") in a registered direct placement. -updated 5/20- Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") today announced the pricing of a registered direct placement of 1,043,725 shares of its 7.0% Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock") at an offering price of $25.00 per share to select institutional and retail investors. The Series D Preferred Stock is a new series of preferred stock that will rank on parity with the Company's outstanding 7.75% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"), 7.5% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock") and 7.125% Series C Cumulative Term Preferred Stock (the "Series C Preferred Stock"). The Company has applied to list the shares of Series D Preferred Stock on NASDAQ's Global Select Market, which are expected to trade under the 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 industrial and office properties. Co. conducts its business activities through an Umbrella Partnership Real Estate Investment Trust structure, by which all of Co.'s properties are held by Gladstone Commercial Limited Partnership (the Operating Partnership). Co. controls the sole general partner of the Operating Partnership and owns, directly or indirectly the common units of limited partnership interest in the Operating Partnership. Co.'s business is managed by its external adviser, Gladstone Management Corporation.
Preferreds: GOODP, GOODN, GOODO
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 34th percentile
(ranked lower than approx. 66% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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