Gladstone Commercial Corporation Announces Offering of Series D Redeemable Perpetual Preferred Stock
16 May 2016 - 10:52PM
Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”)
today announced that it plans to sell shares of its newly
designated Series D Cumulative Redeemable Preferred Stock (the
“Series D Preferred Stock”) in a registered direct placement.
The Company intends to use the net proceeds from this offering
to optionally redeem all outstanding shares of its 7.125% Series C
Cumulative Term Preferred Stock (the “Series C Preferred Stock”)
with any remaining proceeds to redeem up to all of its 7.75% Series
A Cumulative Redeemable Preferred Stock (the “Series A Preferred
Stock”), up to all of its 7.5% Series B Cumulative Redeemable
Preferred Stock (the “Series B Preferred Stock”) and, to pay down
its credit facility and for other general corporate purposes.
All preferred stock redemptions will be contingent upon the closing
of its Series D Preferred Stock offering.
CSCA Capital Advisors, LLC is acting as placement agent and
Weeden & Co. LLP is serving as settlement agent for the
transaction.
A shelf registration statement relating to the securities in
this offering has been filed previously with the Securities and
Exchange Commission (the “SEC”) and is effective. Any offer of the
securities will be made exclusively by means of a prospectus
supplement and accompanying prospectus. Prospective investors
should read the preliminary prospectus supplement and the
accompanying prospectus included in the registration statement and
other documents the Company has filed with the SEC for more
complete information about the Company and the offering of the
securities. Copies of these documents may be obtained by
contacting CSCA Capital Advisors, 800 Third Avenue, New York, New
York 10022, by phone at 212-446-9177, or by fax at
212-446-9181.
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. Gladstone Commercial’s real
estate portfolio consists of 99 properties located in 24 states,
totaling approximately 11.0 million square feet. For additional
information please visit www.gladstonecommercial.com.
Forward-Looking Statements
This press release contains certain forward-looking statements,
which are based upon the Company’s current expectations and are
inherently uncertain, including forward-looking statements with
respect to the offering and the redemptions. 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.
Investor Relations Inquiries: Please visit
www.gladstone.com or +1-703-287-5878.
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