Gladstone Commercial Corporation Prices Offering of Common Stock
02 December 2016 - 12:51AM
Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”)
today announced the pricing of a registered direct placement of
774,400 shares of common stock, par value $0.001 per share (“Common
Stock”), to an institutional investor at an offering price of
$18.35 per share (the “Offering”).
The Company expects to receive net proceeds, after placement
fees and other estimated offering expenses, of approximately $13.9
million. The Offering is expected to settle on or about
December 5, 2016, subject to satisfaction of customary closing
conditions. The Company expects to use the net proceeds of the
sale of the Common Stock in the Offering to fund acquisitions of
real property in the ordinary course of the Company’s business and
in accordance with the Company’s investment objectives, to pay down
debt and for other general corporate purposes.
CSCA Capital Advisors, LLC acted as placement agent and
Weeden & Co. L.P. will serve as settlement agent for the
transaction.
The shares of Common Stock were offered pursuant to a prospectus
supplement and accompanying prospectus under a shelf registration
statement that has been filed previously with the Securities and
Exchange Commission (the “SEC”), which was declared effective on
February 1, 2016. Copies of the prospectus supplement and
accompanying prospectus included in the registration statement and
other documents the Company has filed with the SEC 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 95
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,
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 the 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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