The Gladstone Companies has filed for a proposed IPO.
The company describes itself as: "We were formed on December 7, 2009 as a Delaware corporation to continue the asset management business conducted through predecessor entities since 2001. Our sole stockholder is The Gladstone Companies, Ltd., a Cayman Islands exempted company (TGC LTD), which is wholly owned by David Gladstone, our Chairman, President and Chief Executive Officer. After giving effect to this offering and the Reclassification (as defined herein), TGC LTD, which is offering shares of Class A Common Stock in this offering, will own shares of our Class B Common Stock and % of the voting power of outstanding common stock, assuming no exercise of the underwriter's option to purchase additional shares of Class A Common Stock to cover over-allotments.
We are an independent United States alternative asset manager with assets under management of approximately $4.0 billion as of December 31, 2021. Our alternative asset management businesses include the management, through our Adviser Subsidiary, of (1) GAIN, a business development company (BDC) that primarily invests in debt and equity securities of private businesses operating in the United States, generally with annual earnings before interest, taxes, depreciation and amortization (EBITDA) of $3 million to $20 million (lower middle market) (including in connection with management buyouts, recapitalization or, to a lesser extent, refinancing of existing debt facilities); (2) GLAD, a BDC that primarily invests in debt securities of established private lower middle market companies in the United States; (3) GOOD, a real estate investment trust (REIT) under Section 856 of the Internal Revenue Code of 1986, as amended (the Code), which focuses on acquiring, owning and managing primarily office and industrial properties in the United States; and (4) Gladstone Land Corporation (NASDAQ:LAND), a REIT and natural resources company that focuses on acquiring, owning and leasing farmland in the United States. We also provide various administrative and financial services, including investment banking, due diligence, dealer manager, mortgage placement, and other financial services through our Broker-Dealer Subsidiary."
EF HUTTON will serve as sole underwriter.