MCLEAN, Va., Dec. 11, 2018 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (NASDAQ: LAND) announced that it plans to sell shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase additional shares of common stock solely to cover over-allotments, if any. Janney Montgomery Scott LLC is acting as sole book-running manager for the offering.

The Company intends to use the net proceeds from this offering to repay existing indebtedness, which, in turn, will be used to fund future property acquisitions and for other general corporate purposes.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement, dated December 11, 2018, and the accompanying prospectus dated April 12, 2017, which have been filed with the Securities and Exchange Commission (the “SEC”), contain this and other information about the Company and should be read carefully by prospective investors before investing.

About Gladstone Land Corporation:

Gladstone Land Corporation is a publicly-traded agricultural real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the United States. The Company is not a grower but is only a landlord, leasing its farms to corporate and independent farmers. The Company currently owns 85 farms, comprised of 73,205 total acres in 10 different states across the U.S., valued at approximately $618 million. The current distribution is $0.0444 per month per common share, or $0.5328 per year. Additional information can be found at www.GladstoneLand.com and www.GladstoneFarms.com.