Business
Gladstone Land Corporation Announces Common Stock Offering
MCLEAN, VA / ACCESSWIRE / October 7, 2020 / Gladstone Land Corporation (NASDAQ:LAND) (the "Company") today announced that it plans to sell shares of its
About this update from Gladstone Land Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / October 7, 2020 / Gladstone Land Corporation (NASDAQ:LAND) (the \"Company\") today announced that it 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.The Company 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 investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated October 7, 2020, and the accompanying prospectus dated April 1, 2020, which have been filed with the Securities and Exchange Commission (the \"SEC\"), contain this and other information about the Company and should be read carefully by prospective investors before investing.The offering is being conducted as a public offering under the Company's effective shelf registration statement filed on Form S-3 with the SEC (File No. 333-236943). To obtain a copy of the preliminary prospectus supplement, dated October 7, 2020, and the final prospectus supplement (when available) for this offering, please contact Janney Montgomery Scott LLC at 60 State Street, Boston, MA 02109, Attention: Equity Capital Markets Group, or email [email protected] 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 Land Corporation:Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 124 farms, comprised of approximately 93,000 acres in 12 diffe...