secwatch.observer — SEC 8-K summary
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Issuer:     GLADSTONE LAND Corp (LAND)
CIK:        0001495240
Form:       8-K
Filed at:   2022-08-24T23:59:59+00:00
Accession:  0001193125-22-228538
Event type: other
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gladstone Land reduces Series C Preferred Stock offering from $500M to $255M, to end by Dec 2022
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- Primary offering reduced from 20M shares ($500M) to 10.2M shares ($255M); DRIP limited to 200K shares.
- Offering will terminate on earlier of Dec 31, 2022, or when all 10.2M primary shares sold.
- Company has sold ~$213M of Series C Preferred Stock since April 2020.
- CEO cites rising cost of capital, cap rate compression, and slowdown in acquisitions as reasons for prudent reduction.
- Net proceeds to be used for debt repayment, future acquisitions, and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495240/000119312522228538/0001193125-22-228538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495240/000119312522228538/d547971d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-228538

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