Presidio Property Trust Announces the Closing of $10 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

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[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / July 14, 2021 / (NASDAQ:SQFT)(NASDAQ:SQFTP) Presidio Property Trust, an internally managed, diversified real estate investment trust (\"REIT\"), today announced that it closed the registered direct offering of 1,000,000 shares of Series A its common stock (\"Common Stock\"), warrants (\"Common Stock Warrants\") to purchase up to 1,000,000 shares of Common Stock, and pre-funded warrants (\"Pre-Funded Warrants\") to purchase up to 1,000,000 shares of Common Stock. Each share of Common Stock and accompanying Common Stock Warrant were sold together at a combined offering price of $5.00, and each share of Common Stock and accompanying Pre-Funded Warrant were sold together at a combined offering price of $4.99. The Pre-Funded Warrants are immediately exercisable at a nominal exercise price of $0.01 and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Common Stock Warrants have an exercise price of $5.50 per share, are exercisable immediately, and will expire five years from the date of issuance.The net proceeds to the Company after deducting placement agent fees and the estimated offering expenses (including the approximately $4.6 million of net proceeds from the issuance of Pre-Funded Warrants and the Common Stock Warrants issued in the concurrent private placement) are expected to be approximately $9.1 million. The Company intends to use the net proceeds from the offering for working capital and for other general corporate purposes, including to potentially acquire additional properties.A.G.P./Alliance Global Partners acted as sole placement agent for the offering. The Benchmark Company LLC acted as a financial advisor in connection with the offering.This offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-251779) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\"). A prospectus supplement describing the terms of the proposed offering was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected] press release does not constitute a...

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