Gladstone Land Corp: Sags on stock offering plans

Gladstone Capital

20/06/2019 12:22

** Gladstone Land Corp  LAND.O  shares down ~5% premarket as
agricultural REIT looks to raise equity
    ** Stock on track for biggest pct fall since mid-Jan if
losses hold
    ** LAND announces planned follow-on to repay existing
indebtedness, fund future property acquisitions; size not
disclosed  urn:newsml:reuters.com:*:nGNX3h85RJ
    ** Sole bookrunner Janney Montgomery marketing offering at
fixed price of $11.73, a 4.8% discount to stock's Weds close;
deal expected to price before the opening bell 
    ** Co has 18.5 mln shares outstanding equating to market
value of $228 mln
    ** LAND up 7% in 2019

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