Business Context and Reporting Period
Company: Gladstone Commercial Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: August 26, 2010
Event: Unregistered Sales of Equity Securities (Item 3.02)
Key Financial Metrics
This filing reports a specific capital raise event rather than periodic financial performance. Key metrics related to the transaction include:
- Shares Issued: 7,000 shares of Senior Common Stock
- Price Per Share: $15.00 (gross)
- Net Proceeds: Approximately $93,700 (after selling commissions and dealer manager fees)
- Offering Context: Part of a continuous private offering of up to 3,333,333 shares
The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The material change reported is the issuance of 7,000 shares of Senior Common Stock on August 26, 2010. This transaction was executed under a previously announced continuous private offering.
Guidance, Outlook, and Risks
Regulatory Status: The issuance was exempt from registration under the Securities Act of 1933 pursuant to Rule 506. This exemption was based on the private nature of the offering (no general solicitation) and the status of purchasers as accredited investors.
Management Commentary: The filing contains no forward-looking guidance, outlook, or discussion of risks beyond the standard regulatory disclosure regarding the exemption.
Investor Verification Checklist
- Verify the total number of shares issued to date under the continuous private offering of up to 3,333,333 shares.
- Confirm the specific selling commissions and dealer manager fees deducted to arrive at the $93,700 net proceeds.
- Review the company's most recent 10-Q or 10-K for updated liquidity and debt positions, as this 8-K does not contain balance sheet data.