Gladstone Commercial Corporation Announces Conditional Redemption of all Outstanding Shares of its Series A and Series B Pref...
September 25 2019 - 9:20AM
Gladstone Commercial Corporation (Nasdaq: GOOD) (the
“Company”) today announced the conditional, optional redemption of
first, all outstanding shares of its $25.0 million 7.75% Series A
Cumulative Redeemable Preferred Stock (the “Series A Preferred
Stock”), and second, all outstanding shares of its $31.6 million
7.5% Series B Cumulative Redeemable Preferred Stock (the “Series B
Preferred Stock”). These optional redemptions are contingent
upon the closing of an offering of a new series of cumulative
redeemable preferred stock on or prior to October 23, 2019, with
net proceeds to the Company sufficient to effect the
redemptions. The Company may waive the contingencies with
respect to the redemptions of one or both series, may authorize
partial redemptions of one or both series and may cancel any
redemptions at its sole discretion.
Notices of redemption on a conditional basis
will be sent and publicized with respect to both the Series A
Preferred Stock and Series B Preferred Stock, each with a
conditional redemption date of October 28, 2019 at a redemption
price of $25.00 per share plus all accrued and unpaid dividends
through such redemption date.
About Gladstone Commercial
Corporation: Gladstone Commercial is a real estate
investment trust focused on acquiring, owning and operating net
leased industrial and office properties across the United States.
As of July 30, 2019, Gladstone Commercial’s real estate portfolio
consisted of 107 properties located in 24 states, totaling
approximately 12.9 million square feet. For additional information
please visit www.gladstonecommercial.com.
Forward-Looking Statements
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 Gladstone Commercial’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, 2018, as filed
with the SEC on February 13, 2019 and certain other filings we make
with the SEC. Gladstone Commercial 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
Investor Relations Inquiries: Please call
+1-703-287-5878.
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