Gladstone Land Corp | 5.00% Series D Cumulative Term Preferred Stock Due 1/31/2026 (LANDM)
Prospectus excerpt: We are offering 2,100,000 shares of our 5.00% Series D Cumulative Term Preferred Stock, par value $0.001 per share (the “Series D Preferred Stock”). No public market currently exists for the Series D Preferred Stock. We have applied to list the Series D Preferred Stock on the Nasdaq Global Market under the symbol “LANDM.” If the application is approved, trading of the Series D Preferred Stock is expected to commence within 30 days after the date of this prospectus supplement. There can be no assurance trading will commence in this time period, or at all. Dividends on the Series D Preferred Stock will be cumulative from, but excluding, the date of original issue and payable monthly in arrears, beginning on February 28, 2021, at an annual rate of 5.00% of the liquidation preference, or $25.00 per share, of Series D Preferred Stock.
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Gladstone Land is a holding company. Through its subsidiaries, Co. is an externally-managed, agricultural real estate investment trust that is engaged in the business of owning and leasing farmland. Co.'s farmland is concentrated in locations where farmers are able to grow either fresh produce annual row crops, which are typically planted and harvested annually, or certain permanent crops. To a much lesser extent, Co. also owns farms that grow certain commodity crops. In addition, Co. 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. Preferreds: LANDO, LANDP, LANDM Open the LAND Information Page » |
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