Farmland Partners to convert all Series B Preferred Stock to common; expects $6.2M annual cash flow boost

Farmland Partners Inc.

Conversion of ~5.8M Series B preferred shares into ~12.1M common shares at ratio of 2.08718 per share.
Conversion price of $12.75 represents 45.2% premium over August 2017 pricing.
Expects annual cash flow increase of over $6.2 million or $0.13 per common share.
Anticipates fully-covered dividend and ~35% increase in common equity market cap.
Effective October 4, 2021; preferred stock to be delisted from NYSE.

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