Janney Montgomery and Jefferies assist; proceeds fund acquisitions
By Devika Patel
Knoxville, Tenn., Nov. 20 - Gladstone Commercial Corp. said it priced a $25 million public offering of stock with a $3.75 million greenshoe. The offering was announced on Tuesday.
The company will sell 1,377,500 common shares at $18.15 per share. The price per share reflects a 3.2% discount to the Nov. 19 closing share price of $18.75.
Jefferies LLC and Janney Montgomery Scott LLC are the joint bookrunning managers.
Settlement is expected on Nov. 25.
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: | $25,001,625
|
| Greenshoe: | $3,750,244
|
| Shares: | 1,377,500
|
| Price: | $18.15
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Janney Montgomery Scott LLC
|
| Lead manager: | Oppenheimer & Co.
|
| Announcement date: | Nov. 19
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Stock symbol: | Nasdaq: GOOD
|
| Stock price: | $18.75 at close Nov. 19
|
| Market capitalization: | $252.51 million
|
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