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Presidio Property Trust Announces Pricing of Its Initial Public Offering of Common Stock
SAN DIEGO, CA / ACCESSWIRE / October 6, 2020 / Presidio Property Trust, Inc. (NASDAQ:SQFT) (Presidio), an internally managed, diversified real estate
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / October 6, 2020 / Presidio Property Trust, Inc. (NASDAQ:SQFT) (Presidio), an internally managed, diversified real estate investment trust, today announced the pricing 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. Gross proceeds from the offering are expected to be approximately $2.5 million.These shares of Series A common stock are expected to start trading on the Nasdaq Capital Market on October 7, 2020 under the symbol \"SQFT\". The offering is expected to close on or about October 9, 2020, subject to the satisfaction of customary closing conditions.Kingswood Capital Markets, division of Benchmark Investments, Inc. is acting as sole bookrunner for the offering. R.F. Lafferty & Co. Inc. is acting as co-manager. Presidio has 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 will be made only by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC).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.A copy of the prospectus relating to the offering 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 final prospectus, when it is available, may also be obtained on the SEC's website at www.sec.gov.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 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 d...