Evolv Capital Launches its Latest Non-Traded Preferred Stock Offering


Denver CO, May 31, 2018 -- Along with Gladstone Securities, LLC and Gladstone Land Corporation, Evolv Capital is pleased to begin marketing the newest non-traded preferred stock offering in the Independent Broker/Dealer and RIA channels. Gladstone Land Corporation 6.00% Series B Cumulative Redeemable Preferred Stock is a $150,000,000 offering, effective as of May 31, 2018.

“We are incredibly excited to introduce Gladstone’s publicly traded farmland REIT (NASDAQ: LAND) and their first ever non-traded preferred,” said Cody Overstreet, Co-Founder and Head of Distribution at Evolv Capital.  

“After successfully consulting, designing and launching the CIM Commercial Trust (NASDAQ: CMCT) non-traded preferred stock offering, we feel the Evolv team is well positioned to get this product to market quickly.  We love the farmland asset class and are particularly fond of the non-traded preferred stock product structure.  We view our participation in this new offering as further proof that our team is one of the industry leaders in the non-traded preferred arena.  Farmland is truly a non-correlated real estate asset, and this is a vehicle that we feel the retail market will embrace.”

Gladstone Land became the first public farmland REIT following its 2013 IPO on NASDAQ.  LAND is a real estate investment trust that specializes in purchasing farms and farm-related properties and leasing them to farmers, primarily on a triple-net basis. Gladstone Land intends to use the proceeds from the offering to repay existing indebtedness, fund future acquisitions, and for other general corporate purposes.  

Evolv Capital is a branch office of International Assets Advisory (IAA), and we are again utilizing their expertise for this venture.  “We have been very happy working with IAA over the past few years,” says Brannon McPherson (Managing Partner and Co-Founder at Evolv Capital). “When offering a non-traded preferred, we want them by our side.”  

IAA was an early adopter of the non-traded preferred structure and continues to be an innovator.  They were the first managing broker/dealer to execute DTC electronic trades for non-traded preferred offerings, and they continue to be the industry leader for this type of transaction.  

“If you are a publicly traded REIT and plan to offer a non-traded preferred, you should talk to IAA before you launch your product,” says Amanda Teeple, Managing Director at Evolv.  

About Evolv Capital:

Evolv Capital Partners is an independent designer, developer and distributor of best-in-class, direct, alternative investments. Our principals and team have decades of experience in the investment industry, with a unique focus on investment capital raising within the independent broker-dealer and Registered Investment Advisor space.  Our experience represents key leadership positions with leading firms in different corners of the market, representing all sides of an investment transaction. With a focus on creating or acquiring new software and technology, our goal is to ease the operational burden stemming from new regulations and increased compliance protocols.  By utilizing innovative product structures, we are better able to grow with the ever-changing investment landscape and create income solutions for today’s market.  Additional information can be found at www.evoalts.com.

About Gladstone Land Corporation:

Gladstone Land is a publicly-traded real estate investment trust that invests in farmland and farm-related properties located in major agricultural markets in the U.S., which it leases to farmers.  The company reports the current fair value of its farmland on a quarterly basis; as of March 31, 2018, the estimated net asset value per share of common stock was $13.57.  Gladstone Land currently owns 75 farms, comprised of 63,351 acres in 9 different states across the U.S., valued at approximately $537 million.  Its acreage is predominantly concentrated in locations where its tenants are able to grow fresh produce annual row crops (e.g., berries and vegetables), which are generally planted and harvested annually, as well as permanent crops (e.g., almonds, blueberries, and pistachios), which are planted every 10 to 20-plus years.  The company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers.  Gladstone Land pays monthly distributions to its common stockholders, and the current per-share distribution is $0.0443 per month, or a run-rate of $0.5316 per year.  The company has paid 64 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013.  Additional information can be found at www.GladstoneLand.com and www.GladstoneFarms.com.

About International Assets Advisory:

International Assets Advisory, LLC, is a full-service brokerage and money management firm. IAA, founded in 1982, and is registered under the Securities Act of 1934. At IAA Capital Markets, they pride themselves in their tailored, personal approach to institutional investing and independent analysis as specialists in global financial markets. Further, their institutional clients benefit from access to a wide array of global investment opportunities. With National Financial Services as their clearing agent, clients can be assured of access to the latest technology in trade execution and operational support.

All statements contained in this news release, other than historical facts, may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Readers should not rely upon forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Gladstone Land's business, financial condition, liquidity, results of operations, funds from operations or prospects to differ materially from those expressed in or implied by such statements. Such risks and uncertainties are disclosed under the caption "Risk Factors" of Gladstone Land's Annual Report on Form 10-K for its fiscal year ended December 31, 2017, as filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 20, 2018, and its other filings with the SEC, including the prospectus supplement for the offering of Gladstone Land’s 6.00% Series B Cumulative Redeemable Preferred Stock. Gladstone Land cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. Gladstone Land undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.

For more information, please contact Evolv Capital at (844) EVO-ALTS or Gladstone Securities at (703) 287-5800.