PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:42 PM
| This Slide: #58 of 609 |
Slide #58. Gladstone Commercial Corporation — Preferred Stock Offering
Company:
Gladstone Commercial Corporation (NASDAQ:GOOD)
Date announced:
6/21/2021
Shares Offered:
4,000,000
Date of Pricing:
6/21/2021
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 G Cumulative Redeemable Preferred Stock (the "Series G Preferred Stock") in an underwritten public offering. The public offering price and other terms are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Series G Preferred Stock on the same terms and conditions. -updated 6/21- Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") today announced that it has priced an underwritten public offering of 4,000,000 shares of its newly designated 6.00% Series G Cumulative Redeemable Preferred Stock (the "Series G Preferred Stock") at a public offering price of $25.00 per share, raising $100.0 million in gross proceeds and approximately $96.7 million in net proceeds after payment of underwriting discounts and commissions and estimated expenses of the offering payable by the Company. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on June 28, 2021.
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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