Gladstone Land Corp., 6.00% Series B Cumulative Redeemable Preferred Stock - anybody own this CUSI | Preferreds Message Board Posts

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Msg  357 of 374  at  7/17/2019 1:15:10 PM  by

lumpygravy


 In response to msg 356 by  E_K_S
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Re: Gladstone Land Corp., 6.00% Series B Cumulative Redeemable Preferred Stock - anybody own this CUSIP?

I'm just wondering why Gladstone would issue such a screwy offering.
 
When I see off-the-wall offerings like this I dismiss them, and never
look back.
 
However, I've read your posts for years and you do excellent due
diligence on your holdings. Thus, I'm compelled to have a look
 
Do I understand this correctly....they are going to sell unlisted stock for
years and will only apply for a listing within a year after the offering is
terminated? So, listing might take place in 2024? WTF.
 
The fees on the offering look like greed incarnate. Huge fees and
payable to themselves!
 
"Selling commissions and the dealer manager fee will equal 7.0% and 3.0%,
respectively, of aggregate gross proceeds in the primary offering
only. Each is payable to our dealer manager." Again, WTF.
 
I'm a Gladstone fan overall, and own GAINL, GLADN, and GLADD, but I
wouldn't go near this LAND preferred offering, especially at just 6%. I'll
have to pass. 
 
David Gladstone must be getting up there into his 70s. Wonder what the
succession plan would be, just in case.
 
Here's a link to the IPO in case anyone wishes to read on...
 
 
 


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Replies
Msg # Subject Author Recs Date Posted
358 Re: Gladstone Land Corp., 6.00% Series B Cumulative Redeemable Preferred Stock - anybody own this CUSIP? passandshoot 1 7/17/2019 1:17:08 PM
359 Re: Gladstone Land Corp., 6.00% Series B Cumulative Redeemable Preferred Stock - anybody own this CUSIP? E_K_S 1 7/17/2019 2:47:40 PM


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