Gladstone Land Corporation Announces Underwritten Public Offering of Its Common Shares
- by Chandler James
MCLEAN, VA - While we at ANUK have told you a thousand times over how much we love reporting on acquisitions, equally important are the moves that prepare a company to make those acquisitions. Prolific fresh produce acquirer Gladstone Land Corporation has made one such move this week, announcing plans to sell shares of its common stock in an underwritten public offering. The company also plans to grant the underwriters a 30-day option to purchase additional shares of common stock solely to cover over-allotments, if any. Janney Montgomery Scott LLC is acting as book-running manager for the offering.
According to a press release, Gladstone intends to use the net proceeds from this offering to repay existing indebtedness, which, in turn, will be used to fund future property acquisitions and for other general corporate purposes. Investors are advised to carefully consider the objectives, risks, and charges and expenses of the company before investing.
The official filing has been submitted to the Securities and Exchange Commission (SEC). To view more details of the announcement, please view the press release here.
As our industry’s leaders continue to make groundbreaking moves, we at ANUK will be here bringing you the latest.