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Gladstone Commercial Corp., 7.50% Series B Cumul Redeem Preferred Stock
Ticker Symbol: GOODO* CUSIP: 376536306 Exchange: NGS
* NOTE: This security is no longer trading as of 10/28/2019
Security has been Called for: Monday, October 28, 2019
Sept. 25, 2019 -- Gladstone Commercial Corporation (Nasdaq: GOOD) today announced the conditional, optional redemption of first, all outstanding shares of its $25.0 million 7.75% Series A Cumulative Redeemable Preferred Stock, and second, all outstanding shares of its $31.6 million 7.5% Series B Cumulative Redeemable 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 October 23, 2019, with net proceeds to the Company sufficient to effect the redemptions. The Company may waive the contingencies with respect to the redemptions of one or both series, may authorize partial redemptions of one or both 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 October 28, 2019 at a redemption price of $25.00 per share plus all accrued and unpaid dividends through such redemption date. _________________ 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., 7.50% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/31/2011 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 7.50% ($1.875) per annum paid monthly on the last business day of each month to holders of record or on the 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 one business day prior to the record date). 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 regards to 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 - 10/19/2006 - 1.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Market Value $25.0 Million
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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703-287-5878
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Toll Free Phone Number |
Unknown |
CEO - David Gladstone |
CFO - Mike Sodo |
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