Gladstone Commercial Corporation Prices Public Offering of 6.00% Series G Cumulative Redeemable Preferred Stock

MCLEAN, VA / ACCESSWIRE / June 21, 2021 / Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") today announced that it has priced an underwritten public offering of 4,000,000 shares of its newly designated 6.00% Series G Cumulative Redeemable Preferred Stock (the "Series G Preferred Stock") at a public offering price of $25.00 per share, raising $100.0 million in gross proceeds and approximately $96.7 million in net proceeds after payment of underwriting discounts and commissions and estimated expenses of the offering payable by the Company. The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on June 28, 2021.

Stifel, Goldman Sachs & Co. LLC, B. Riley Securities and Baird are acting as joint book-running managers of the offering, and Janney Montgomery Scott LLC, Ladenburg Thalmann, Colliers Securities LLC and Wedbush Securities are serving as co-managers of the offering.

The Company intends to use the net proceeds from this offering to optionally redeem all outstanding shares of its 7.00% Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock"), with any remaining proceeds to repay a portion of the indebtedness outstanding under the Company's credit facility and for other general corporate purposes. Such optional redemption will be contingent upon the Company having sufficient liquidity to complete such redemption.

The offering is being conducted as a public offering under the Company's effective shelf registration statement filed on Form S-3 (File No. 333-236143) filed with the Securities and Exchange Commission (the "SEC"). To obtain a copy of the preliminary prospectus supplement, dated June 21, 2021, and the final prospectus supplement, when available for this offering, please contact: Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, by calling toll-free 855-300-7136 or writing to [e-mail]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], or by email: [e-mail]; B. Riley Securities, Inc. by writing to [e-mail]; or Robert W. Baird & Co. Incorporated, 777 E. Wisconsin Avenue, Milwaukee, Wisconsin 53202, Attention: Syndicate Department, facsimile: [phone], or by email at [e-mail].