The following excerpt is from the company's SEC filing.
March 20, 2023 Gladstone Commercial Corporation (Nasdaq: GOOD) (the Company) announced that its board of directors
has authorized a share repurchase program for up to $50,000,000 of the Companys common stock. The repurchases are intended to be implemented through open market transactions on U.S. exchanges or in privately negotiated transactions, in
accordance with applicable securities laws, and any market purchases will be made during applicable trading window periods or pursuant to any applicable Rule
10b5-1
trading plans. The timing, prices, and sizes
of repurchases will depend upon prevailing
market prices, general economic and market conditions and other considerations. The authorization expires March 20, 2024 and the repurchase program may be suspended or discontinued at any time and does
not obligate the Company to acquire any particular amount of stock.
After thorough continued analysis and in consultation with our board of
directors, we are announcing a share repurchase authorization as part of a capital allocation strategy that we believe is in the best interest of our shareholders and our business. We believe that, with the current market volatility, there is an
attractive buying opportunity for our common stock. We believe using capital to repurchase our common shares at appropriate prices represents a favorable strategic use of capital, said Buzz Cooper, President of the Company.
About Gladstone Commercial (Nasdaq: GOOD)
Gladstone
Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of December 31, 2022, Gladstone Commercials real estate portfolio consisted
of 137 properties located in 27 states, totaling approximately 17.2 million square feet. For additional information please visit
www.gladstonecommercial.com
Forward-looking Statements:
The statements in this press release regarding the Companys capacity for growth, share repurchases and future
distributions are forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on the Companys
current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from
time to time in the Companys filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future
events or otherwise, except as required by law.
Contact:
For further information contact Investor Relations at
703-287-5893
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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