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Gladstone Commercial Corp., 7.125% Series C Cumul Term Preferred Stock 1/31/17
Ticker Symbol: GOODN* CUSIP: 376536504 Exchange: NGS
* NOTE: This security is no longer trading as of 8/19/2016
Security has been Called for: Friday, August 19, 2016
July 12, 2016 -- Gladstone Commercial Corporation announced today that it intends to redeem all remaining 540,000 shares, or 100%, of the outstanding shares, of its 7.125% Series C Cumulative Term Preferred Stock on August 19, 2016. The shares of Series C Preferred Stock will be redeemed at a redemption price equal to $25.09401042 per share, representing the payment of the $25.00 liquidation preference, plus accrued and unpaid dividends from and including August 1, 2016, up to and including August 19, 2016, in the amount of $0.09401042 per share. ____________ May 20, 2016 -- Gladstone Commercial Corporation today announced its intention to partially redeem approximately $25.0 million of its issued and outstanding 7.125% Series C Cumulative Term Preferred Stock. The Company further announced that the previously announced conditional redemption of the outstanding shares of its 7.75% Series A Cumulative Redeemable Preferred Stock and its 7.5% Series B Cumulative Redeemable Preferred Stock have been canceled. The Company intends to send notices regarding the partial redemption of Series C Preferred Stock on May 25, 2016 after the closing of the offering of its 7.0% Series D Cumulative Redeemable Preferred Stock. ____________ May 16, 2016 -- Gladstone Commercial Corporation today announced the conditional redemption of all outstanding shares of its $25.0 million 7.75% Series A Cumulative Redeemable Preferred Stock, and its $31.6 million 7.5% Series B Cumulative Redeemable Preferred Stock and its intention to redeem its $38.5 million 7.125% Series C Cumulative Term Preferred Stock. These optional redemptions are contingent upon the closing of an offering of a new series of cumulative redeemable preferred stock on or prior to June 13, 2016, with net proceeds to the Company sufficient to effect the redemptions, with priority given to the Series C Preferred Stock, then the Series A Preferred Stock, and then the Series B Preferred Stock. The Company may waive the contingencies with respect to the redemptions of one or more series, may authorize partial redemptions of one or more series and may cancel any redemptions at its sole discretion. Notices of redemption on a conditional basis will be sent and publicized with respect to both the Series A Preferred Stock and Series B Preferred Stock, each with a conditional redemption date of June 15, 2016 at a redemption price of $25.00 per share plus all accrued and unpaid dividends. We intend to send notices of redemption for Series C Preferred Stock following the closing of the Company's preferred stock offering and the receipt of sufficient funds to redeem the Series C Preferred Stock.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Gladstone Commercial Corp., 7.125% Series C Cumulative Term Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/31/2016 at $25 per share plus accrued and unpaid dividends, and maturing 1/31/2017. Cumulative distributions of 7.125% ($1.78125) per annum are paid monthly on the last day of each month to holders of record or on the record date fixed by the board, not more than 20 days or less than 7 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). These preferred shares of Series C Term Preferred Stock have a maturity and mandatory redemption date of January 31, 2017. If a Change of Control Triggering Event occurs, unless the company has exercised their option to redeem the Series C Term Preferred Stock, holders of the Series C Term Preferred Stock may require the company to redeem the Series C Term Preferred Stock at the price described in the prospectus. Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GOOD)
IPO - 1/26/2012 - 1.40 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $35.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 1521 Westbranch Drive, Suite 200, McLean, VA 22102 |
| Main Phone Number |
703-287-5800 |
| Fax Number |
703-287-5801 |
| Investor Relations
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703-287-5893
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Toll Free Phone Number |
Unknown |
| CEO - David Gladstone |
CFO - Danielle Jones |
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