Jeffries, Janney Montgomery are bookrunners; deal funds acquisitions
By Devika Patel
Knoxville, Tenn., June 3 - Gladstone Commercial Corp. said it priced a $23.8 million public offering of stock with a $3.57 million greenshoe. The deal was announced Monday.
The company will sell 1.4 million common shares at $17.00 per share. The price per share is a 3.02% discount to the June 2 closing share price of $17.53.
Jefferies LLC and Janney Montgomery Scott LLC are the joint bookrunning managers.
Settlement is expected June 6.
Proceeds will be used for property acquisitions, to repay debt and for general corporate purposes.
Gladstone Commercial is a real estate investment trust based in McLean, Va.
| Issuer: | Gladstone Commercial Corp.
|
| Issue: | Common stock
|
| Amount: | $23.8 million
|
| Greenshoe: | $3.57 million
|
| Shares: | 1.4 million
|
| Price: | $17.00
|
| Warrants: | No
|
| Bookrunner: | Jefferies LLC and Janney Montgomery Scott LLC
|
| Co-managers: | Oppenheimer & Co. Inc., J.J.B. Hilliard, W.L. Lyons, LLC and Ladenburg Thalmann & Co. Inc.
|
| Announcement date: | June 2
|
| Pricing date: | June 3
|
| Settlement date: | June 6
|
| Stock symbol: | Nasdaq: GOOD
|
| Stock price: | $17.53 at close June 2
|
| Market capitalization: | $272.15 million
|
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