MCLEAN, Va., June 19, 2013 /PRNewswire/ -- Gladstone
Commercial Corporation (NASDAQ: GOOD) (the "Company") today
announced that it has priced its public offering of 1,320,000
shares of its common stock at a price to the public of $18.82 per share. The offering was increased in
size from the originally contemplated 1,100,000 shares of common
stock. The Company also granted the underwriters a 30-day option to
purchase up to 198,000 additional shares of common stock to
cover over-allotments, if any. Subject to customary conditions, the
offering is expected to close on or about June 24, 2013. The net proceeds to the Company,
after deducting the underwriting discount and estimated offering
expenses, are expected to be approximately $23.5 million (exclusive of the underwriters'
over-allotment option).
(Logo:
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Janney Montgomery Scott LLC is serving as the sole book-running
manager for the offering. Oppenheimer & Co. Inc. is
serving as joint lead manager. J.J.B.
Hilliard, W.L. Lyons,
LLC, Wunderlich Securities, Inc., Ladenburg Thalmann & Co.
Inc. and National Securities Corporation are serving as
co-managers.
The Company intends to use the net proceeds from this offering
to fund pending and future property acquisitions (including the
pending acquisition of a 320,597-square foot office building
located in Texas) and repay debt
and for general corporate purposes.
The offering is being conducted as a public offering under the
Company's effective shelf registration statement filed with the
Securities and Exchange Commission (File No. 333-169290). Copies of
the final prospectus supplement (when available) and the related
base prospectus may be obtained by contacting: Janney Montgomery
Scott LLC, 60 State Street, Boston,
MA 02109, Attention: Equity Capital Markets Group or
prospectus@janney.com.
This press release 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.
Gladstone Commercial Corporation is a publicly-traded real
estate investment trust that focuses on investing in and owning
triple-net leased industrial and commercial real estate property
and selectively making long-term industrial and commercial mortgage
loans to creditworthy entities.
All statements contained in this press release, other than
historical facts, may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates" and variations
of these words and similar expressions are intended to identify
forward-looking statements. Readers should not rely upon
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could
cause the Company's business, financial condition, liquidity,
results of operations, funds from operations or prospects to differ
materially from those expressed in or implied by such statements.
Such risks and uncertainties are disclosed under the caption "Risk
Factors" of the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2012, as filed with the SEC on
February 19, 2013 and our other filings with the Securities
and Exchange Commission. The Company cautions readers not to place
undue reliance on any such forward-looking statements which speak
only as of the date made. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
SOURCE Gladstone Commercial Corporation