Gladstone Commercial Corporation Announces Pricing of 1.2M Common Stock Offering at $17.55/Share

Gladstone Commercial Corporation GOOD today announced that it has priced its public offering of 1,200,000 shares of its common stock at a price to the public of $17.55 per share. The offering was increased in size from the originally contemplated 1,000,000 shares of common stock. The Company has also granted the underwriters a 30-day option to purchase up to 180,000 additional shares of common stock on the same terms and conditions to cover over-allotments, if any. Subject to customary conditions, the offering is expected to close on or about June 15, 2011. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $19.8 million (exclusive of the underwriters' overallotment option). Janney Montgomery Scott LLC is serving as the sole book-runner and lead manager for the offering. BB&T Capital Markets, a division of Scott & Stringfellow, LLC, J.J.B. Hilliard, W.L. Lyons, LLC and Wunderlich Securities, Inc. are serving as co-managers.