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Presidio Property Trust Announces Pricing of $1.74 Million Public Offering of Series D Preferred Stock
SAN DIEGO, CA / ACCESSWIRE / June 20, 2024 / (NASDAQ:SQFT) Presidio Property Trust, an internally managed, diversified real estate investment trust ("REIT"),
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / June 20, 2024 / (NASDAQ:SQFT) Presidio Property Trust, an internally managed, diversified real estate investment trust (\"REIT\"), today announced the pricing of its public offering of 109,054 shares of its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock par value $0.01 per share (the \"Series D Preferred Stock\") at a price to the public of $16.00 per share. Gross proceeds from the offering are expected to be approximately $1.74 million, before deducting underwriting discounts and offering expenses.The offering is expected to close on or about June 24, 2024, subject to the satisfaction of customary closing conditions.The Benchmark Company, LLC is acting as sole bookrunning manager for the offering.A shelf registration statement on Form S-3 and an accompanying prospectus (File No. 333-278960), relating to the shares of Series D Preferred Stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (\"SEC\") on April 26, 2024 and declared effective by the SEC on May 17, 2024. A preliminary prospectus supplement relating to the proposed offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. A final prospectus supplement describing the terms of the proposed offering will be filed with the SEC. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained, when available, from The Benchmark Company, LLC, 150 East 58th Street, 17th floor, New York, NY 10155, by email at [email protected], or by calling +1 (212)-312-6700.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 with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located in Arizona, Illinois, Texas, Wisconsin, and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryl...