Business Context and Reporting Period
Company: Gladstone Commercial Corporation
Filing Type: Form 8-K (Current Report)
Report Date: February 1, 2011
Event Date: January 28, 2011
Context: The Company entered into a material definitive agreement to conduct a public offering of common stock.
Key Financial Metrics and Transaction Details
This filing reports a capital raise transaction rather than periodic financial performance metrics (revenue, profit, cash flow, or margins are not disclosed in this document).
- Shares Offered: 725,000 shares of common stock.
- Offering Price: $18.35 per share.
- Over-Allotment Option: Underwriters granted a 30-day option to purchase up to 108,750 additional shares.
- Underwriter: Janney Montgomery Scott LLC (as representative).
- Registration: Offered pursuant to a prospectus supplement dated January 28, 2011, and a base prospectus dated September 27, 2010 (Form S-3 File No. 333-169290).
Material Changes
The filing discloses the entry into an underwriting agreement for the sale of equity. No comparative financial data or changes in operating metrics versus prior periods are provided in this specific report.
Guidance, Outlook, and Risks
Management Commentary: The filing includes a press release (Exhibit 99.1) announcing the pricing of the offering but does not contain detailed management commentary on future outlook or strategy within the text provided.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies beyond the standard terms of the underwriting agreement and the potential exercise of the over-allotment option.
Investor Verification Checklist
- Verify the final number of shares sold, including whether the 30-day over-allotment option was exercised.
- Review the full Underwriting Agreement (Exhibit 1.1) for specific indemnification clauses and underwriting discounts.
- Examine the Press Release (Exhibit 99.1) for the stated use of proceeds from the offering.
- Confirm the total gross proceeds calculated as 725,000 shares multiplied by $18.35 (plus any over-allotment shares).