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Buy (3.33 out of 4)
51st percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, March 28, 10:41 AM
Slide #19. Gladstone Land Corporation — Preferred Stock Offering
Company: |
Gladstone Land Corporation (NASDAQ:LAND) |
Date announced: |
11/9/2022 |
Shares Offered: |
8,000,000 |
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 8,000,000 shares (the "Offering") of its newly-designated 5.00% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock") at an offering price of $25.00 per share. The Company expects to receive up to $200.0 million in gross proceeds and approximately $175.0 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 E Preferred Stock are sold in the 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 E Preferred Stock is being offered by Gladstone Securities on a "reasonable best efforts" basis pursuant to a Dealer Manager Agreement, dated as of November 9, 2022, entered into between the Company and Gladstone Securities. |
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 Page at Preferred Stock Channel »
Name: |
Gladstone Land Corp |
Website: |
www.GladstoneFarms.com |
Sector: |
REITs |
Number of ETFs Holding LAND: |
31 (see which ones) |
Total Market Value Held by ETFs: |
$90,856,512.96 |
Total Market Capitalization: |
$469,000,000 |
% of Market Cap. Held by ETFs: |
19.37% |
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