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Presidio Property Trust Announces Pricing of Its Upsized Public Offering of Preferred Stock
SAN DIEGO, CA / ACCESSWIRE / June 10, 2021 / (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 10, 2021 / (NASDAQ:SQFT) Presidio Property Trust, an internally managed, diversified real estate investment trust (\"REIT\"), today announced the pricing of its public offering of 800,000 shares of its Series D Cumulative Redeemable Perpetual Preferred Stock (the \"Series D Preferred Stock\") at a price to the public of $25.00 per share. Gross proceeds from the offering are expected to be approximately $20.0 million, before deducting offering expenses.The shares of Series D Preferred Stock are expected to start trading on The Nasdaq Capital Market on June 11, 2021, under the symbol \"SQFTP\". The offering is expected to close on or about June 15, 2021, subject to the satisfaction of customary closing conditions.The Benchmark Company, LLC is acting as sole bookrunning manager for the offering. Aegis Capital Corp., Colliers Securities LLC and Spartan Capital Securities, LLC are acting 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, as amended (File No. 333-256150), and a registration statement on Form S-11 MEF (File No. 333-257002) relating to the offering were declared effective by the Securities and Exchange Commission (\"SEC\") on June 10, 2021.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 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]. 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 with holdings in office, industrial, and retail properties, and model home properties which are triple-net leased to homebuilders. Presidio's model homes are le...