Gladstone Land Corporation, an externally managed REIT that owns two farms in California and is planning to acquire agricultural real estate, filed and set terms for its IPO on Friday. The McLean, VA-based company plans to raise $170 million by offering 11.4 million shares at a price range of $14-$16. At the mid-point of the proposed range, Gladstone Land will command a market value of $212 million. Gladstone Land Corporation, which was founded in 1997 and booked $2 million in sales for the 12 months ended June 30, plans to list on the NASDAQ under the symbol LAND. The filing did not specify underwriters or deal timing.
