Gladstone Commercial Prices 1.4 Mln Shares Offering At $17/shr - Quick Facts

(RTTNews) - Gladstone Commercial Corp. (GOOD) has priced its public offering of 1.4 million common shares at $17.00 per share. The underwriters were granted a 30-day option to buy up to 210,000 additional shares. The offering may close on or about June 6, 2014. The net proceeds, after deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be about $22.5 million, excluding the underwriters' 30-day option to purchase additional common shares.

The firm plans to use the net proceeds from this offering to fund pending and future property acquisitions, repay existing indebtedness and for other general corporate purposes.

Jefferies LLC and Janney Montgomery Scott LLC are serving as the joint book-running managers for the offering, Oppenheimer & Co. Inc., J.J.B. Hilliard, W.L. Lyons, LLC and Ladenburg Thalmann & Co. Inc. are serving as co-managers.