Apollo to Acquire Gladstone Land for $3.2B
Ticker: LANDO · Form: 8-K · Filed: Nov 15, 2024 · CIK: 1495240
| Field | Detail |
|---|---|
| Company | Gladstone Land Corp (LANDO) |
| Form Type | 8-K |
| Filed Date | Nov 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, real-estate, private-equity
Related Tickers: APO
TL;DR
Apollo buying LAND for $16.50/share cash, $3.2B total. Deal closes Q1 2025.
AI Summary
Gladstone Land Corporation (LAND) announced on November 13, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Apollo Global Management, Inc. (APO) for $16.50 per share in cash. This transaction values the company at approximately $3.2 billion, including debt. The deal is expected to close in the first quarter of 2025, subject to customary closing conditions.
Why It Matters
This acquisition by Apollo Global Management represents a significant consolidation in the real estate investment trust sector, potentially impacting market dynamics and investor sentiment for similar companies.
Risk Assessment
Risk Level: medium — The deal is subject to customary closing conditions and regulatory approvals, which introduces a degree of uncertainty until completion.
Key Numbers
- $16.50 — Acquisition Price Per Share (Cash consideration for each share of Gladstone Land)
- $3.2 billion — Total Transaction Value (Includes debt, representing the total enterprise value of the deal)
Key Players & Entities
- Gladstone Land Corporation (company) — Company being acquired
- Apollo Global Management, Inc. (company) — Acquiring entity
- $16.50 (dollar_amount) — Per share acquisition price
- $3.2 billion (dollar_amount) — Total transaction value
- November 13, 2024 (date) — Date of definitive agreement
- Q1 2025 (date) — Expected closing period
FAQ
What is the total value of the acquisition?
The acquisition values Gladstone Land Corporation at approximately $3.2 billion, including debt.
What is the per-share price for Gladstone Land shareholders?
Shareholders will receive $16.50 per share in cash.
Who is acquiring Gladstone Land?
An affiliate of Apollo Global Management, Inc. is acquiring Gladstone Land Corporation.
When is the acquisition expected to close?
The transaction is expected to close in the first quarter of 2025.
What is the filing date of this report?
This Form 8-K was filed on November 15, 2024, reporting events from November 13, 2024.
Filing Stats: 643 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-11-15 16:12:02
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share LAND The Nasdaq
Filing Documents
- d907490d8k.htm (8-K) — 32KB
- d907490dex991.htm (EX-99.1) — 8KB
- g907490dsp5.jpg (GRAPHIC) — 20KB
- 0001193125-24-259837.txt ( ) — 239KB
- land-20241113.xsd (EX-101.SCH) — 4KB
- land-20241113_def.xml (EX-101.DEF) — 14KB
- land-20241113_lab.xml (EX-101.LAB) — 24KB
- land-20241113_pre.xml (EX-101.PRE) — 15KB
- d907490d8k_htm.xml (XML) — 8KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated November 15, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Gladstone Land Corporation (Registrant) November 15, 2024 By: /s/ Lewis Parrish Lewis Parrish Chief Financial Officer