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Presidio Property Trust Announces Special Warrant Dividend
SAN DIEGO, CA / ACCESSWIRE / January 4, 2022 / (NASDAQ:SQFT; SQFTP) Presidio Property Trust, Inc. ("Presidio" or the "Company"), an internally managed,
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / January 4, 2022 / (NASDAQ:SQFT; SQFTP) Presidio Property Trust, Inc. (\"Presidio\" or the \"Company\"), an internally managed, diversified real estate investment trust (\"REIT\"), today announced the declaration of a special warrant dividend.All holders of record of Presidio's common stock and existing outstanding warrants as of January 14, 2022 will receive one warrant for each common share or existing warrant held. The warrant dividend is expected to be issued on or around January 24, 2022. These warrants will give the holder the right to purchase one share of Presidio common stock at $7.00 per share, for a period of five years. Should shareholders not convert the warrants during that holding period, the warrants will automatically convert to 1/10 of a common share at expiration, rounded down to the nearest number of whole shares.\"This special dividend reflects our appreciation for the support of our shareholders, as well as optimism about our future,\" said Jack Heilbron, Chief Executive Officer and President of Presidio. \"The innovative automatic conversion feature assures that warrant holders will be entitled to receive additional common shares of Presidio, subject to the warrant's terms. We have applied for these warrants to trade on the Nasdaq Capital Market under the symbol SQFTW and expect trading to begin on or around January 24, 2022.\"The warrants and the shares of common stock issuable upon the exercise of the warrants will be registered on a registration statement on Form S-11 (File No. 333-260885) that was filed with the Securities and Exchange Commission and is expected to be declared effective on or around January 21, 2022.This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the securities laws of that state or jurisdiction. Any offer of securities covered by the registration statement will be made solely by means of a prospectus included in the registration statement.About Presidio Property TrustPresidio is an internally managed, diversified REIT with holdings in office, industrial, and retail properties, and model hom...