Item 8.01 Other Events.
On August 9, 2021, Gladstone Acquisition Corporation (the "Company") consummated
its initial public offering (the "IPO") of 10,000,000 units (the "Units"). Each
Unit consists of one share of Class A common stock, $0.0001 par value per share
(the "Common Stock"), and one-half of one redeemable warrant (the "Public
Warrants"), each whole Public Warrant entitling the holder thereof to purchase
one share of Common Stock at an exercise price of $11.50 per share, subject to
adjustment. The Units were sold at an offering price of $10.00 per Unit,
generating gross proceeds of $100,000,000.
Simultaneous with the consummation of the IPO and the issuance and sale of the
Units, (i) the Company consummated the private placement of 4,200,000 private
placement warrants (the "Private Placement Warrants") to Gladstone Sponsor, LLC,
each exercisable to purchase one share of Common Stock at $11.50 per share,
subject to adjustment, at a price of $1.00 per Private Placement Warrant,
generating total proceeds of $4,200,000 and (ii) the Company consummated the
private placement to EF Hutton, division of Benchmark Investments, LLC, of
200,000 shares of Common Stock (the "Representative Shares") for nominal
consideration.
Of the proceeds the Company received from the IPO, the sale of the Private
Placement Warrants and the sale of the Representative Shares, $102.0 million, or
$10.20 per Unit issued in the IPO, was deposited into a trust account, with
Continental Stock Transfer & Trust Company acting as trustee. An audited balance
sheet as of August 9, 2021 reflecting receipt of the proceeds upon consummation
of the IPO and the Private Placements has been issued by the Company and is
included as Exhibit 99.1 to this Current Report on Form 8-K.
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