LAND - Asset management firm Gladstone Companies files for IPO
The Gladstone Companies (GC), an asset management firm that oversees four publicly traded funds plus a SPAC, has filed to hold an initial public offering on Nasdaq. In a filing, the firm said that it had $4B assets under management as of the end of 2021. The size and price range of the proposed IPO were not disclosed. The firm operates four publicly traded funds: Gladstone Investment Corp. (NASDAQ:GAIN), Gladstone Land Corp. (NASDAQ:LAND), Gladstone Commercial Corp. (NASDAQ:GOOD) and Gladstone Capital Corp. (NASDAQ:GLAD). It is also the sponsor of a SPAC called Gladstone Acquisition Corp. (NASDAQ:GLEE). For the 12 months ended Dec. 31, 2021, Gladstone reported net income of $12M on revenue of $77M. Gladstone plans to list its stock on the Nasdaq under the symbol GC. EF Hutton is serving as sole bookrunning manager. The company said it plans to use proceeds of the deal in part to provide additional
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Asset management firm Gladstone Companies files for IPO