MCLEAN, Va., Nov. 20, 2013 /PRNewswire/ -- Gladstone
Commercial Corporation (NASDAQ: GOOD) (the "Company") today
announced that it has priced its public offering of 1,377,500
shares of its common stock at a price to the public of $18.15 per share. The Company has also granted
the underwriters a 30-day option to purchase up to 206,625
additional shares of common stock. Subject to customary closing
conditions, the offering is expected to close on or about
November 25, 2013. The net proceeds
to the Company, after deducting the underwriting discounts and
commissions and estimated offering expenses, are expected to be
approximately $23.7 million
(exclusive of the underwriters' 30 day option to purchase
additional shares of common stock).
(Logo:
http://photos.prnewswire.com/prnh/20101005/GLADSTONECOMMERCIAL)
Jefferies LLC and Janney Montgomery Scott LLC are serving as the
joint book-running managers for the offering. Oppenheimer
& Co Inc. is serving as lead manager.
The Company intends to use the net proceeds from this offering
to fund pending and future property acquisitions, repay existing
indebtedness and for 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, 12th 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, 2012, as filed with the Securities and
Exchange Commission (the "SEC") on February 19, 2013, the
Company's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2013, as filed with the
SEC on November 4, 2013, 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.
SOURCE Gladstone Commercial Corporation