Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 49

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 accompanying Condensed Consolidated Balance Sheets as of September 30, 2025, and December 31, 2024, were as follows (dollars in thousands):September 30, 2025December 31, 2024Base management fee$1,992 $2,067 Other, net(1)52 75 Total due to Adviser2,044 2,142 Administration fee650 613 Cumulative accrued but unpaid portion of prior Administration Fees(2)— 217 Total due to Administrator650 830 Total due to related parties(3)$2,694 $2,972 (1)Other amounts due to or from our Adviser primarily relate to miscellaneous general and administrative expenses either paid by our Adviser on our behalf or by us on our Adviser’s behalf.(2)Represents the cumulative accrued but unpaid portion of prior Administration fees that are scheduled to be paid during the three months ending September 30 of each year, which is the quarter following our Administrator’s fiscal year end.(3)Reflected as a line item on our accompanying Condensed Consolidated Balance Sheets.

NOTE 8.  COMMITMENTS AND CONTINGENCIES

LitigationIn the ordinary course of business, we may be involved in legal proceedings from time to time.  We are not currently subject to any material known or threatened litigation.

NOTE 9.  EQUITY

Registration StatementOn March 28, 2023, we filed a universal shelf registration statement on Form S-3, as amended (File No. 333-270901), with the SEC (the “2023 Registration Statement”).  The 2023 Registration Statement, which was declared effective by the SEC on April 13, 2023, permits us to issue up to an aggregate of $1.5 billion in securities consisting of common stock, preferred stock, warrants, debt securities, depository shares, subscription rights, and units, including through separate, concurrent offerings of two or more securities.  Through September 30, 2025, we have issued a total of 176,195 shares of Series E Preferred Stock for gross proceeds of approximately $4.4 million and 593,419 shares of common stock for gross proceeds of approximately $8.0 million under the 2023 Registration Statement.

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Equity Issuances Series E Preferred StockOn November 9, 2022, we filed a prospectus supplement with the SEC for a continuous public offering (the