secwatch.observer — SEC 8-K summary
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Issuer:     GLADSTONE LAND Corp (LAND)
CIK:        0001495240
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001193125-22-281256
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gladstone Land files for $200M public offering of 5.00% Series E Preferred Stock at $25/share
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- Up to 8M shares of Series E Cumulative Redeemable Preferred Stock offered at $25.00/share; $200M gross proceeds expected.
- Net proceeds of ~$175M after 7% selling commissions and 3% dealer manager fee; affiliate Gladstone Securities acts as dealer manager.
- Offering on reasonable best-efforts basis; terminates Dec 31, 2025 or when all shares sold.
- Company intends to list Series E Preferred on Nasdaq within one year of termination; no current public market.
- Articles supplementary filed to reclassify 16.7M shares of unissued Series C & D Preferred and common as Series E Preferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1495240/000119312522281256/0001193125-22-281256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1495240/000119312522281256/d404705d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-281256

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