Bookrunner Janney Montgomery assists; proceeds will fund acquisitions
By Devika Patel
Knoxville, Tenn., June 19 - Gladstone Commercial Corp. said it priced a $24.84 million public offering of stock with a $3.73 million greenshoe. The deal was announced Tuesday.
The company will sell 1.32 million common shares at $18.82 per share. The price per share is a 3.04% discount to the June 18 closing share price of $19.41.
Janney Montgomery Scott is the bookrunner.
Settlement is expected June 24.
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: | $24,842,400
|
| Greenshoe: | $3,726,360
|
| Shares: | 1.32 million
|
| Price: | $18.82
|
| Warrants: | No
|
| Bookrunner: | Janney Montgomery Scott
|
| Joint lead manager: | Oppenheimer & Co. Inc.
|
| Co-managers: | J.J.B. Hilliard, W.L. Lyons, LLC, Wunderlich Securities, Inc., Ladenburg Thalmann & Co. Inc. and National Securities Corp.
|
| Announcement date: | June 18
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Stock symbol: | Nasdaq: GOOD
|
| Stock price: | $19.41 at close June 18
|
| Market capitalization: | $214.24 million
|
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