Gladstone Commercial (GOOD) Announces Plans for Preferred Stock Offering

Gladstone Commercial Corporation (NASDAQ: GOOD) today announced that it plans to sell shares of its newly designated Series C Cumulative Term Preferred Stock in an underwritten public offering.

The Company also plans to grant the underwriters a 30-day option to purchase additional shares of Series C Preferred Stock on the same terms and conditions to cover over-allotments, if any. Jefferies & Company, Inc. is serving as the sole book-running manager for the offering, and J.J.B. Hilliard, W.L. Lyons, LLC, Wunderlich Securities, Inc., and Dominick & Dominick LLC are serving as co-managers.

The Company intends to use the net proceeds from its offering of the Series C Preferred Stock (the "Offering") to repay any outstanding indebtedness under its line of credit and for acquisitions of real estate.

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