Gladstone Land Corporation Announces Nasdaq Listing of Series C Preferred Stock

MCLEAN, VA / ACCESSWIRE / May 30, 2023 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") today announced that it has applied to list its 6.00% Series C Preferred Stock (the "Series C Preferred") on the Nasdaq Global Market under the ticker "LANDP." Pending Nasdaq approval, the Company expects the listing of its Series C Preferred to be effective on or about June 8, 2023, following the filing of Gladstone Land's Form 8-A12B and Nasdaq's listing certification with the U.S. Securities and Exchange Commission (the "SEC").

The Company originally issued the Series C Preferred at $25.00 per share through a $255 million continuous registered non-listed offering, beginning in April 2020, which was completed in December 2022. Pursuant to the prospectus supplement for the offering, Gladstone Land intended to list the Series C Preferred on a national securities exchange within one year from the end of the offering. The one-year anniversary of the termination date, or date on which the $255 million offering was sold-out, would have been December 31, 2023. The 6.0% dividend rate (calculated on the $25 per share par value) remains unchanged upon the listing. The Series C Preferred redemption plan is terminated effective today in connection with the anticipated listing, as outlined in the prospectus supplement dated August 24, 2022.

"We are very pleased that we are able list our Series C Preferred Stock on Nasdaq in well under one year from the end of the offering," said David Gladstone, Chairman and CEO of Gladstone Land. "By issuing this preferred stock through the independent broker-dealer and RIA channels following our successful offering and listing of the Gladstone Land Series B Preferred Stock, we believe we demonstrated that we continue to have access to capital through diverse sources and we believe it further underscores investors' belief in our business model."

Gladstone Securities LLC acted as managing broker dealer in the Series C Preferred offering.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.