TOPIC:

By Renaissance Capital,

The Gladstone Companies, an independent alternative asset management firm, filed on Friday with the SEC to raise up to $50 million in an initial public offering.

Gladstone is an independent US alternative asset manager with approximately $4.0 billion in AUM as of December 31, 2021. Its alternative asset management businesses include the management of: GAIN, a business development company (BDC) which primarily invests in debt and equity securities of private lower middle market businesses in the US; GLAD, a BDC which primarily invests in debt securities of established private lower middle market businesses in the US; GOOD, a REIT which focuses on office and industrial properties in the US; and Gladstone Land Corporation, a REIT and natural resources company that focuses on farmland in the US.

The McLean, VA-based company was founded in 2001 and booked $77 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol GC. The Gladstone Companies filed confidentially on November 9, 2021. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.

Source : preiposwap.com/alternative-asset-manager...for-a-50-million-ipo

The Gladstone Companies are a family of investment funds, headquartered in the Washington DC area, that provide financing to and acquire lower middle market companies, acquire commercial real estate and farmland nationwide, and pay monthly cash distributions to their shareholders.

Gladstone Capital Corporation and Gladstone Investment Corporation are BDCs that invest in lower middle market companies in the United States, with Gladstone Capital historically a debt fund and Gladstone Investment historically a buyout fund.

Gladstone Land Corporation is a real estate investment trust that invests in farmland located in major agricultural markets in the United States, while Gladstone Commercial Corporation, also a real estate investment trust, invests in single-tenant and anchored multi-tenant net leased industrial and office properties nationwide.