Farming and agriculture SPAC Gladstone Acquisition files for a $100 million IPO

Gladstone Acquisition, a blank check company targeting the farming and agricultural sectors, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The McLean, VA-based company plans to raise $100 million by offering 10 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Gladstone Acquisition will command a market value of $129 million.

The company is led by CEO, CIO, and Director David Gladstone, who founded The Gladstone Companies in 2001 and currently serves as CEO and Chairman of Gladstone Land (Nasdaq: LAND), Gladstone Capital (Nasdaq: GLAD), Gladstone Investment (Nasdaq: GAIN), and Gladstone Commercial (Nasdaq: GOOD). He is joined by CFO Michael Malesardi, who has served as CFO of The Gladstone Companies since 2018. Gladstone Acquisition intends to target industries that complement management’s background, including the farming and agricultural sectors, with a specific focus on farming-related operations and businesses that support the farming industry.

Gladstone Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol GLEEU. Kingswood Capital Markets is the sole bookrunner on the deal.