Gladstone Prices Public Offering Of 1.377 Mln Shares At $18.15/shr

(RTTNews) - Gladstone Commercial Corporation (GOOD), Wednesday said it priced its public offering of about 1.37 million common shares at $18.15 per share. Further, the company granted underwriters a 30-day option to purchase up to 206,625 additional shares. The offering is expected to close on or about November 25.

After deductions, the net proceeds are expected to be about $23.7 million, exclusive of the underwriters' 30 day option to purchase additional common shares. Gladstone intends to use the proceeds to fund pending and future property acquisitions, repay existing indebtedness and for general corporate purposes.

Jefferies LLC and Janney Montgomery Scott LLC are serving as the joint book-running managers for the offering, while Oppenheimer & Co Inc. is serving as lead manager.