Gladstone Land Prices Public Offering - Quick Facts

(RTTNews) - Gladstone Land Corp. (LAND) announced it has priced public offering of 1.15 million shares of its common stock at a price to the public of $12.28 per share. The offering is expected to close on or about September 29, 2014. The net proceeds to the company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $13.3 million (exclusive of the underwriters' over-allotment option).

Gladstone Land Corporation is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the United States that it leases to corporate and independent farmers. The company intends to use the net proceeds to repay existing indebtedness, fund pending and future property acquisitions and for other general corporate purposes.