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SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Financing Activity
Borrowing Activity
Subsequent to March 31, 2022, we secured the following loan proceeds (dollars in thousands):
IssuerIssuance
Date		AmountMaturity
Date		Principal
Amortization
Stated
Interest Rate(1)
Interest Rate Terms
Farm Credit Of Central Florida, ACA4/5/2022$4,800 2/1/204623.8 years4.36%Fixed through 2/28/2027; variable thereafter
(1)Where applicable, stated rate is before interest patronage, as described in Note 4 “Borrowings—Farm Credit Notes Payable—Interest Patronage.”
In connection with securing the above borrowings, Gladstone Securities, an affiliate of ours, earned total financing fees of approximately $7,000.
Equity Activity
The following table provides information on equity sales that have occurred subsequent to March 31, 2022 (dollars in thousands, except per-share amounts):
Type of IssuanceNumber of
Shares Sold		Weighted Average Offering
Price Per Share		Gross Proceeds
Net Proceeds(1)
Series C Preferred Stock(2)
665,138$24.71 $16,438 $15,132 
(1)Net of Selling Commissions and Dealer-Manager Fees or underwriting discounts and commissions (in each case, as applicable).
(2)Excludes approximately 4,578 shares issued pursuant to the DRIP.
Subsequent to the March 31, 2022, we paid approximately $7.7 million to redeem 204,778 OP Units.
Distributions
On April 12, 2022, our Board of Directors authorized and we declared the following monthly cash distributions to holders of our preferred and common stock:
IssuanceRecord DatePayment DateDistribution per Share
Series B Preferred Stock:April 22, 2022April 29, 2022$0.125 
May 20, 2022May 31, 20220.125 
June 22, 2022June 30, 20220.125 
Total Series B Preferred Stock Distributions:$0.375 
Series C Preferred Stock:April 28, 2022May 6, 2022$0.125 
May 27, 2022June 6, 20220.125 
June 29, 2022July 6, 20220.125 
Total Series C Preferred Stock Distributions:$0.375 
Series D Term Preferred Stock:April 22, 2022April 29, 2022$0.104167 
May 20, 2022May 31, 20220.104167 
June 22, 2022June 30, 20220.104167 
Total Series D Term Preferred Stock Distributions:$0.312501 
Common Stock(1):
April 22, 2022April 29, 2022$0.0454 
May 20, 2022May 31, 20220.0454 
June 22, 2022June 30, 20220.0454 
Total Common Stock Distributions:$0.1362 
(1)The same amounts paid to common stockholders will be paid as distributions on each OP Unit held by non-controlling OP Unitholders as of the above record dates.