- Gladstone Land ( NASDAQ: LAND ) said Wednesday the first closing for its continuous offering of 5% series E cumulative redeemable preferred stock will occur on January 19.
- The offering is expected to terminate on the date that is the earlier of either December 31, 2025 or when all 8M shares in the offering are sold.
- Net proceeds from the offering will be used to fund property acquisitions, pay related property acquisition expenses, and for other general purposes.
- Gladstone ( LAND ) plans to apply to list the series E preferred stock on Nasdaq or another exchange within one year of the termination date.
- The board also declared cash distribution of $0.104167 per share for the series E preferred stock for each of January, February and March.
- Earlier, Gladstone ( LAND ) raised its monthly dividend 0.2% to $0.0459/share .
For further details see:
Gladstone Land expects to sell 8M shares in preferred stock offering