Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 117

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 Months Ended September 30,Nine Months Ended September 30,20242024Number of shares sold3,595 15,735 Weighted-average offering price per share$24.89 $24.98 Gross proceeds$89 $393 Net proceeds(1)$81 $354 (1)Net of Selling Commissions, Dealer-Manager Fees, and underwriting discounts.In addition, during the three and nine months ended September 30, 2025, 600 shares and 1,400 shares, respectively, of Series E Preferred Stock were tendered for optional redemption, which we satisfied with aggregate cash payments of approximately $13,000 and $31,000, respectively.  No shares of the Series E Preferred Stock were tendered for optional redemption during either of the three or nine months ended September 30, 2024.The Series E Offering will terminate on the date (the “Series E Termination Date”) that is the earlier of (i) December 31, 2025 (unless terminated or extended by our Board of Directors) and (ii) the date on which all 8,000,000 shares of Series E Preferred Stock offered in the Series E Offering are sold.  There is currently no public market for our shares of Series E Preferred Stock.  We intend to apply to list the Series E Preferred Stock on Nasdaq or another national securities exchange within one calendar year of the Series E Termination Date; however, there can be no assurance that a listing will be achieved in such timeframe, or at all.Common Stock—At-the-Market ProgramWe have entered into equity distribution agreements (commonly referred to as “at-the-market agreements”) with Virtu Americas LLC and Ladenburg & Co. Inc. (each a “Sales Agent”), that, as amended, currently permit us to issue and sell, from time to time and through the Sales Agents, shares of our common stock having an aggregate offering price of up to $500.0 million (the “ATM Program”).  The following table provides information on shares of common stock sold under the ATM Program during the three and nine months ended September 30, 2025 (dollars in thousands, except per-share amounts):Three and Nine Months Ended September 30,2025Number of shares sold122,743 Weighted-average offering price per share$9.28 Gross proceeds$1,140 Net proceeds(1)$1,128 (1)Net of underwriting commissions.We