Company: LANDO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001495240-25-000012
Chunk: 40

Company: GLADSTONE LAND Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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)$— $28 Total fees to Gladstone Securities$— $28 (1)Pursuant to the agreements with the respective related-party entities, as discussed above.(2)Reflected as a line item on our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.(3)Included within Additional paid-in capital on the accompanying Condensed Consolidated Balance Sheets.Related-Party Fees DueAmounts due to related parties on our accompanying Condensed Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024, were as follows (dollars in thousands):

18

March 31, 2025December 31, 2024Base management fee$2,058 $2,067 Capital gains fee188 — Other, net(1)42 75 Total due to Adviser2,288 2,142 Administration fee642 613 Cumulative accrued but unpaid portion of prior Administration Fees(2)419 217 Total due to Administrator1,061 830 Total due to related parties(3)$3,349 $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 7.  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 8.  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