Agriculture SPAC Gladstone Acquisition prices $100 million IPO

Gladstone Acquisition, a blank check company targeting the farming and agricultural sectors, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO, CIO, and Director David Gladstone, the founder of The Gladstone Companies and the 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 is currently the CFO of The Gladstone Companies. 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 plans to list on the Nasdaq under the symbol GLEEU. EF Hutton acted as sole bookrunner on the deal.