Gladstone Commercial Corporation Announces Pricing of Common Stock Offering
June 03 2014 - 7:50AM
Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company")
today announced that it has priced its public offering of 1,400,000
shares of its common stock at a price to the public of $17.00 per
share. The Company has also granted the underwriters a 30-day
option to purchase up to 210,000 additional shares of common stock.
Subject to customary closing conditions, the offering is expected
to close on or about June 6, 2014. The net proceeds to the Company,
after deducting the underwriting discounts and commissions and
estimated offering expenses, are expected to be approximately $22.5
million (exclusive of the underwriters' 30-day option to purchase
additional shares of common stock).
Jefferies LLC and Janney Montgomery Scott LLC are serving as the
joint book-running managers for the offering, Oppenheimer & Co.
Inc., J.J.B. Hilliard, W.L. Lyons, LLC and Ladenburg Thalmann &
Co. Inc. are serving as co-managers.
The Company intends to use the net proceeds from this offering
to fund pending and future property acquisitions, repay existing
indebtedness and for other general corporate purposes.
The offering is being conducted as a public offering under the
Company's effective shelf registration statement filed with the
Securities and Exchange Commission (File No. 333-190931). To
obtain a copy of the final prospectus supplement and the
accompanying prospectus for this offering, please contact:
Jefferies LLC at 520 Madison Avenue, 2nd Floor, New York, NY,
10022, Attention: Equity Syndicate Prospectus Department, by
calling (877) 547-6340 or by emailing
Prospectus_Department@Jefferies.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
Gladstone Commercial Corporation is a publicly-traded real
estate investment trust that focuses on investing in and owning net
leased industrial, commercial and retail real property and
selectively making long-term industrial and commercial mortgage
loans.
All statements contained in this press release, other than
historical facts, may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates" and variations
of these words and similar expressions are intended to identify
forward-looking statements. Readers should not rely upon
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could
cause the Company's business, financial condition, liquidity,
results of operations, funds from operations or prospects to differ
materially from those expressed in or implied by such statements.
Such risks and uncertainties are disclosed under the caption "Risk
Factors" of the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2013, as filed with the Securities and
Exchange Commission (the "SEC") on February 18, 2014, the
final prospectus supplement for this offering and our other filings
with the SEC. The Company cautions readers not to place undue
reliance on any such forward-looking statements which speak only as
of the date made. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
For further information contact Investor Relations at
703-287-5893.
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