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Presidio Property Trust Announces Closing of Its Initial Public Offering of Common Stock
SAN DIEGO, CA / ACCESSWIRE / October 9, 2020 / Presidio Property Trust, Inc. (Presidio, NASDAQ:SQFT), an internally managed, diversified real estate
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / October 9, 2020 / Presidio Property Trust, Inc. (Presidio, NASDAQ:SQFT), an internally managed, diversified real estate investment trust, today announced the closing of its initial public offering of 500,000 shares of its Series A common stock at a price to the public of $5.00 per share for gross proceeds of $2.5 million.These shares of Series A common stock began trading on the Nasdaq Capital Market on October 7, 2020 under the symbol \"SQFT\".Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as the sole bookrunner for the offering, and R.F. Lafferty & Co. Inc. acted as co-manager. Presidio granted the underwriters a 45-day option to purchase up to an additional 75,000 shares of Series A common stock to cover over-allotments, if any.The offering of these securities was made only by means of a prospectus. These shares were offered pursuant to a registration statement on Form S-11, as amended (File No. 333-220514), that was declared effective by the Securities and Exchange Commission (SEC) on October 6, 2020. Information about this offering is available in Presidio's prospectus filed with the SEC on October 8, 2020, copies of which may be obtained by contacting Kingswood Capital Markets, Attention: Syndicate Desk, 17 Battery Place, Suite 625, New York, NY 10004, by telephone at +1 (212) 404-7002, or by email at [email protected]. The prospectus may also be obtained at the SEC's website at www.sec.gov.This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.About Presidio Property TrustPresidio is an internally managed, diversified REIT. Our commercial real estate portfolio consists of approximately 1.1 million square feet comprised of 15 properties: 10 office properties, one industrial property and four retail properties. Our commercial portfolio is located in Southern California, Colorado, and North Dakota, and we are currently considering new commercial property acquisitions in a variety of additional markets across the United States. Our commercial property tenant base is diversified, which helps limit our exposure to any singl...