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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thursday, September 24, 12:39 PM

Slide #29. Gladstone Commercial Corporation Preferred Stock Offering

Company: Gladstone Commercial Corporation (NASDAQ:GOOD)
Date announced: 2/20/2020
Shares Offered: 20,000,000
Date of Pricing: 2/21/2020
Price Per Share: $25.00
Preferred Stock Offering Details: Gladstone Commercial Corporation (Nasdaq: GOOD) (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 20,000,000 shares (the "Offering") of its newly-designated 6.00% Series F Cumulative Redeemable Preferred Stock (the "Series F Preferred Stock") at an offering price of $25.00 per share (the "Primary Offering"), and up to 6,000,000 shares of Series F Preferred Stock pursuant to a dividend reinvestment plan at a price of $22.75 per share to those stockholders who participate in such dividend reinvestment plan (the "DRIP Offering"). The Company expects up to $500.0 million in gross proceeds from the Primary Offering and up to $136.5 million from the DRIP Offering and an aggregate of approximately $591.5 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 F Preferred Stock are sold in the Primary Offering and the DRIP Offering. Gladstone Securities, LLC, an affiliate of the Company, will serve as the Company's exclusive dealer manager in connection with the Offering. The Series F Preferred Stock is being offered by Gladstone Securities on a "reasonable best efforts" basis.

Gladstone Commercial is a holding company, engaged in a real estate investment trust. Co. focuses on acquiring, owning, and managing primarily office and industrial properties. On a selective basis, Co. may make long term industrial and office mortgage loans. Co.'s properties are geographically diversified and its tenants cover a range of business sectors and size from small to large private and public companies. Co. conducts substantially all of its business activities through an Umbrella Partnership Real Estate Investment Trust structure, by which all of Co.'s properties are held, directly or indirectly, by Gladstone Commercial Limited Partnership.

Preferreds: GOODP, GOODN, GOODO


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Name:  Gladstone Commercial Corp
Website:  www.GladstoneCommercial.com
Sector:  REITs
Number of ETFs Holding GOOD:  24 (see which ones)
Total Market Value Held by ETFs:  $70,153,916
Total Market Capitalization:  $577,000,000
% of Market Cap. Held by ETFs:  12.16%
 

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