Gladstone Commercial Corporation Announces Pricing of Common Stock Offering
July 20 2017 - 8:12AM
Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company")
today announced that it has priced its public offering of 1,150,000
shares of its common stock at a price to the public of $20.52 per
share. The Company has also granted the underwriters a 30-day
option to purchase up to 172,500 additional shares of common stock.
Subject to customary closing conditions, the offering is expected
to close on or about July 25, 2017. The net proceeds to the
Company, after deducting the underwriting discounts and commissions
and estimated offering expenses, are expected to be approximately
$22.6 million (exclusive of the underwriters' 30-day option to
purchase additional shares of common stock).
Janney Montgomery Scott LLC, D.A. Davidson & Co., Nomura
Securities International, Inc., and Wunderlich Securities, Inc. are
serving as the joint book-running managers for the offering.
The Company intends to use the net proceeds from this offering
to fund pending and future property acquisitions, prepay 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. 333-208953). To obtain
a copy of the preliminary prospectus supplement, dated July 19,
2017, and the final prospectus supplement, dated July 20, 2017, for
this offering, please contact Janney Montgomery Scott LLC at 60
State Street, Boston, MA 02109, Attention: Equity Capital Markets
Group, or email prospectus@janney.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.
About Gladstone Commercial
Corporation: Gladstone Commercial is a real estate
investment trust focused on acquiring, owning and operating net
leased industrial and office properties across the United States.
As of March 31, 2017, Gladstone Commercial’s real estate portfolio
consisted of 95 properties located in 24 states, totaling
approximately 10.9 million square feet.
Forward-Looking Statements
This press release contains certain forward-looking statements,
such as the anticipated use of proceeds, which are based upon the
Company’s current expectations and are inherently uncertain,
including forward-looking statements with respect to this offering.
Any such statements other than statements of historical fact are
likely to be affected by other unknowable future events and
conditions, including elements of the future that are or are not
under the Company’s control, and that the Company may or may not
have considered; accordingly, such statements cannot be guarantees
or assurances of any aspect of future performance. Actual
performance and results could vary materially from these estimates
and projections of the future. Such statements speak only as of the
time when made and are based on information available to the
Company as of the date hereof and are qualified in their entirety
by this cautionary statement. The Company assumes no obligation to
revise or update any such statement now or in the future. For
further discussion of the factors that could affect outcomes,
please refer to the “Risk Factors” section of the prospectus
supplement and accompanying prospectus filed by the Company with
the SEC, and the documents incorporated therein by reference, and
in the Company’s annual and periodic reports and other documents
filed with the SEC, copies of which are available on the SEC’s
website, www.sec.gov.
Investor Relations Inquiries: Please visit www.gladstonecommercial.com or +1-703-287-5893.
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