PreferredStockChannel

Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, December 5, 5:26 AM

Slide #90. Gladstone Land Corporation Preferred Stock Offering

Company: Gladstone Land Corporation (NASDAQ:LAND)
Date announced: 2/20/2020
Shares Offered: 400,000
Date of Pricing: 2/21/2020
Price Per Share: $25.00
Preferred Stock Offering Details: Gladstone Land Corporation (Nasdaq: LAND) (the "Company") today announced that it has filed a new prospectus supplement with the U.S. Securities and Exchange Commission ("SEC") for a continuous public offering of up to 400,000 shares (the "Offering") of its newly-designated 6.00% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at an offering price of $25.00 per share (the "Primary Offering"), and up to 120,000 shares of Series C Preferred Stock pursuant to a dividend reinvestment plan at a price of $22.75 per share to those stockholders who participate in such dividend reinvestment plan (the "DRIP Offering"). The Company expects up to $10.00 million in gross proceeds from the Primary Offering and up to $2.73 million from the DRIP Offering and an aggregate of approximately $11.83 million in net proceeds, after payment of dealer manager fees and selling commissions and estimated expenses of the offering payable by the Company, assuming all shares of the Series C Preferred Stock are sold in the Primary Offering and the DRIP Offering. Gladstone Securities, LLC, an affiliate of the Company ("Gladstone Securities"), will serve as the Company's exclusive dealer manager in connection with the Offering. The Series C Preferred Stock is being offered by Gladstone Securities on a "reasonable best efforts" basis pursuant to a Dealer Manager Agreement dated as of February 20, 2020, entered into between the Company and Gladstone Securities (the "Dealer Manager Agreement"). The Dealer Manager Agreement provides for the sale of up to 20,000,000 shares of Series C Preferred Stock in the Primary Offering and up to 6,000,000 in the DRIP Offering and the Company intends to file a new registration statement on Form S-3 and a related prospectus supplement in March of 2020 in order to register and offer for sale the entire amount of Series C Preferred Stock pursuant to the terms of the Dealer Manager Agreement.

Gladstone Land is an externally-managed, agricultural real estate investment trust focused on owning and leasing farmland. Co. also owns several farm-related facilities, such as cooling facilities, packinghouses, processing facilities, and various storage facilities. Co. also owns farms that grow permanent crops (such as almonds, blueberries, pistachios, and wine grapes), as well as a few farms that grow commodity crops (such as corn and beans). Co. also owns several farm-related facilities that are necessary to the farming operations on the underlying farmland, such as cooling facilities, packinghouses, processing facilities, and various storage facilities.

Preferred: LANDP


Open the LAND Page at Preferred Stock Channel »

Name: 
Gladstone Land Corp
Website: 
www.GladstoneFarms.com
Sector: 
REITs
Number of ETFs Holding LAND: 
28 (see which ones)
Total Market Value Held by ETFs: 
$115,090,495.83
Total Market Capitalization: 
$977,000,000
% of Market Cap. Held by ETFs: 
11.78%
 

Open the LAND Page at Preferred Stock Channel (in a new window) »

Quotes delayed 20 minutes

Email EnvelopeFree LAND Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts

Buy (2.75 out of 4)
13rd percentile
(ranked lower than approx. 87% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Preferred Stock Offerings - Slide 90 of 573 | www.PreferredStockChannel.com

Copyright © 2010 - 2021, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.