Gladstone Land Corporation (NASDAQ:LAND) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry into a Material Definitive Agreement.
Amendments to Controlled Equity OfferingSM Sales Agreements
On April13, 2017, Gladstone Land Corporation, a Maryland
corporation (the Company), and its operating partnership,
Gladstone Land Limited Partnership, a majority-owned,
consolidated subsidiary of the Company and a Delaware limited
partnership (the Operating Partnership), entered into two
separate amendments to the Controlled Equity OfferingSM Sales Agreements, each dated
August7, 2015, with Cantor Fitzgerald Co. and with Ladenburg
Thalmann Co. Inc., respectively (together, the Sales Agreements).
The amendments update the Sales Agreements to reference the
Companys new shelf registration statement on Form S-3 (File
No.333-217042) declared effective by the Securities and Exchange
Commission (the SEC) on April12, 2017 (the Registration
Statement). All other material terms of the Sales Agreements
remained unchanged.
The Company will file a prospectus supplement, dated April13,
2017, to the base prospectus, dated April12, 2017, with the SEC
in connection with the offer and sale of the Companys remaining
shares of common stock available for issuance to the Sales
Agreements.
The foregoing description of amendments to each Sales Agreement
is qualified in its entirety by reference to the copies of the
respective amendments attached hereto as Exhibits 1.1 and 1.2 and
incorporated herein by reference.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits .
|
ExhibitNo. |
Description |
|
| 1.1 |
Amendment No.1 to Controlled Equity OfferingSM Sales Agreement, dated April13, 2017, by and among Gladstone Land Corporation, Gladstone Land Limited Partnership, and Cantor Fitzgerald Co. |
|
| 1.2 |
Amendment No.1 to Controlled Equity OfferingSM Sales Agreement, dated April13, 2017, by and among Gladstone Land Corporation, Gladstone Land Limited Partnership, and Ladenburg Thalmann Co. Inc. |
|
| 5.1 | Opinion of Venable LLP regarding the legality of shares. | |
| 23.1 | Consent of Venable LLP (included in Exhibit 5.1). |
About Gladstone Land Corporation (NASDAQ:LAND)
Gladstone Land Corporation is an externally-managed, agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company’s segment is farmland and farm-related properties. The Company is engaged in leasing its farms to independent farming operations and corporate farming operations. The Company owns approximately 43 farms consisting of over 16,810 total acres across six states in the United States (Arizona, California, Florida, Michigan, Nebraska and Oregon). The Company also owns approximately three cooling facilities and one facility utilized for the storage and assembly of boxes for shipping produce (a box barn). These properties are leased to approximately 33 different, unrelated tenants that are either independent or corporate farming operations. It also leases a small parcel on one of its properties to an oil company. Its properties include San Andreas, West Gonzales, West Beach, Dalton Lane and Keysville Road. Gladstone Land Corporation (NASDAQ:LAND) Recent Trading Information
Gladstone Land Corporation (NASDAQ:LAND) closed its last trading session up +0.04 at 11.27 with 37,934 shares trading hands.