Gladstone Land sets terms for $50 million IPO

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Gladstone Land Corporation, an externally managed REIT planning to acquire agricultural real estate, announced terms for its IPO on Friday. The McLean, VA-based company plans to raise $50 million by offering 3.3 million shares at $15. At the midpoint of the proposed range, Gladstone Land Corporation would command a fully diluted market value of $91 million. Gladstone Land Corporation, which was founded in 1997 and booked $3 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol LAND. Janney Montgomery Scott and JMP Securities are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: LAND

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