Gladstone Commercial Corporation Announces: the Partial Exercise of Over-Allotment Option
Gladstone Commercial Corporation (NASDAQ: GOOD) announced that, on February 10, 2012, in connection with its 7.125% Series C Cumulative Term Preferred Stock offering completed on February 1, 2012, the underwriters of the offering exercised a portion of the over-allotment option to purchase an additional 140,000 shares of Series C Preferred Stock from the Company. The Company received approximately $3.4 million in additional net proceeds from the sale of these shares after deducting the underwriting discount.
In addition, the Series C Preferred Stock began trading today on the NASDAQ Global Select Market under the symbol GOODN and the Company's Board of Directors declared a monthly cash distribution of $0.1484375 per share for the months of February and March 2012.
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