Company: LANDO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001495240-25-000028
Chunk: 114

Company: GLADSTONE LAND Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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 involvement of any unrelated third-party brokers and general market conditions.During the nine months ended September 30, 2025, we paid total financing fees to Gladstone securities of $15,000.  We did not pay any financing fees to Gladstone Securities during the three months ended September 30, 2025, nor did we pay any financing fees during either of the three or nine months ended September 30, 2024.  Through September 30, 2025, the total amount of financing fees paid to Gladstone Securities represented approximately 0.14% of the total financings secured since the Financing Arrangement Agreement has been in place.Dealer-Manager AgreementWe have entered into a dealer-manager agreement with Gladstone Securities (the “Dealer-Manager Agreement”), pursuant to which Gladstone Securities serves as our exclusive dealer-manager in connection with the offering of our 5.00% Series E Cumulative Redeemable Preferred Stock, par value $0.001 per share (the “Series E Preferred Stock”).Pursuant to the Dealer-Manager Agreement, Gladstone Securities provides certain sales, promotional, and marketing services to us in connection with the offering of the Series E Preferred Stock, and we generally paid or pay Gladstone Securities the following:ia selling commission of up to 7.0% of the gross proceeds from sales in the offering (the “Selling Commissions”), andiia dealer-manager fee of 3.0% of the gross proceeds from sales in the offering (the “Dealer-Manager Fees”).Gladstone Securities may, in its sole discretion, remit all or a portion of the Selling Commissions and also reallow all or a portion of the Dealer-Manager Fees to participating broker-dealers and wholesalers in support of the offerings.  The terms of the Dealer-Manager Agreement were approved by our Board of Directors, including its independent directors.The following table summarizes the total Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities during the three and nine months ended September 30, 2025 and 2024 (dollars in thousands):For the Three Months Ended September 30,For the Nine Months Ended September 30,2025202420252024Series E Preferred Stock$— $9 — 39 Total Selling Commissions and Dealer-Manager Fees$— $9 $— $39 Selling Commissions and Dealer-Manager Fees paid to Gladstone Securities are netted against the gross proceeds received from sales