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Presidio Property Trust Announces Closing of Its Upsized Public Offering of Preferred Stock
SAN DIEGO, CA / ACCESSWIRE / June 15, 2021 / (NASDAQ:SQFT) Presidio Property Trust ("Presidio" or the "Company"), an internally managed, diversified real
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / June 15, 2021 / (NASDAQ:SQFT) Presidio Property Trust (\"Presidio\" or the \"Company\"), an internally managed, diversified real estate investment trust (\"REIT\"), today announced the closing of its upsized public offering of 800,000 shares of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock (the \"Series D Preferred Stock\") at a price to the public of $25.00 per share for gross proceeds of $20.0 million, before deducting offering expenses and underwriting commissions. Presidio intends to use the net proceeds for general corporate and working capital purposes, including to potentially acquire additional properties.Shares of the Series D Preferred Stock began trading on the Nasdaq Capital Market on June 11, 2021, under the symbol \"SQFTP\".The Benchmark Company, LLC acted as sole bookrunning manager for the offering. Aegis Capital Corp., Colliers Securities LLC, and Spartan Capital Securities, LLC acted as co-managers. Presidio has granted the underwriters a 45-day option to purchase up to an additional 120,000 shares of Series D Preferred Stock to cover over-allotments, if any.The offering of the Series D Preferred Stock will be made only by means of a prospectus. A registration statement on Form S-11 (File No. 333-256150) relating to the offering was declared effective by the Securities and Exchange Commission (\"SEC\") on June 10, 2021, and an additional registration statement on Form S-11 filed pursuant to Rule 462(b) (File No. 333-257002) became automatically effective on June 10, 2021.A copy of the final prospectus relating to the offering was filed with and is available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus may be obtained by contacting The Benchmark Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th Floor, New York, New York 10155 or by calling (212) 312-6700 or by emailing [email protected] 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 or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Presidio Property TrustPresidio is an internally managed, diversified REIT with...