Gladstone Commercial Corporation Announces Offering of Series E Cumulative Redeemable Preferred Stock
Stifel, B. Riley FBR,
The Company intends to use the net proceeds from this offering to first, optionally redeem all of the outstanding shares of its 7.75% Series A Cumulative Redeemable Preferred Stock and, second, if the Company raises sufficient proceeds, optionally redeem all of the outstanding shares of its 7.50% Series B Cumulative Redeemable Preferred Stock, and to use any remaining proceeds to pay down its credit facility and for other general corporate purposes. Such optional redemptions will be contingent upon the closing of the Company’s Series E Preferred Stock offering.
The offering is being conducted as a public offering under the Company’s effective shelf registration statement (File No. 333-229209) filed with the
This 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.
This press release contains certain forward-looking statements, which are based upon the Company’s current expectations and are inherently uncertain, including forward-looking statements with respect to the offering, use of proceeds and the redemptions. Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that may or may not be under the Company’s control, and that the Company may or may not have considered. Accordingly, no assurances can be given that the securities offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Completion of the securities offering on the terms described, and the application of net proceeds, are subject to numerous conditions, including, without limitation, market conditions and other risks and uncertainties as detailed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended
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Source: Gladstone Commercial Corporation