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Gladstone Land Corporation Announces Pricing of Preferred Stock Offering


Gladstone Land Corporation Announces Pricing of Preferred Stock Offering
MCLEAN, VA / ACCESSWIRE / January 13, 2021 / Gladstone Land Corporation (NASDAQ:LAND) (the Company ) announced that it has priced its public offering of 2,100,000 shares of its newly designated 5.00% Series D Cumulative Term Preferred Stock (the Series D Preferred Stock ) at a price to the public of $25.00 per share. The Company also granted the underwriters a 30-day option to purchase up to 315,000 additional shares of Series D Preferred Stock solely to cover over-allotments, if any. Subject to customary conditions, the offering is expected to close on or about January 19, 2021. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $50.7 million (exclusive of the underwriters over-allotment option). ....

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