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Gladstone Commercial to offer common stock through public offering
Proceeds used for acquisitions, debt repayment and corporate purposes
By Devika Patel
Knoxville, Tenn., June 9 - Gladstone Commercial Corp. will price a public offering of 1 million common shares, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission and a company news release. The deal has a greenshoe of 150,000 shares.
Janney Montgomery Scott LLC, BB&T Capital Markets, J.J.B. Hilliard, W.L. Lyons, LLC and Wunderlich Securities are the underwriters. Lazard Capital Markets LLC is the bookrunning manager.
Proceeds will be used for capital expenditures, working capital, acquisitions of additional oil and natural gas properties, to repay debt, including some of the balance of the company's line of credit, and for general corporate purposes.
Gladstone Commercial is a real estate investment trust based in McLean, Va.
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