trending Market Intelligence /marketintelligence/en/news-insights/trending/wmvfayz3-awfxgelhglapa2 content esgSubNav
In This List

Gladstone Land prices common stock offering

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Infographic: The Big Picture 2024 – Energy Transition Outlook

Gladstone Land prices common stock offering

Farmland real estate investment trust Gladstone Land Corp. priced an underwritten public offering of 1.1 million common shares at $12.15 apiece.

The offering carries a 30-day overallotment option for the underwriters to acquire up to 165,000 additional shares.

The company expects to close the offering on or about March 29 and expects to receive about $12.6 million in net proceeds, exclusive of the underwriters' overallotment option.

Gladstone plans to use the net proceeds to repay existing debt, which in turn will be used to finance future property purchases and for other general corporate purposes.

Janney Montgomery Scott LLC is the book-running manager, while B. Riley FBR Inc., Ladenburg Thalmann & Co. Inc., Maxim Group LLC, National Securities Corp. and Wedbush Securities Inc. are serving as co-managers for the offering.