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Presidio Property Trust Provides Update on Special Warrant Dividend
SAN DIEGO, CA / ACCESSWIRE / January 13, 2022 / (NASDAQ:SQFT)(NASDAQ:SQFTP) Presidio Property Trust, Inc. ("Presidio" or the "Company"), an internally
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / January 13, 2022 / (NASDAQ:SQFT)(NASDAQ:SQFTP) Presidio Property Trust, Inc. (\"Presidio\" or the \"Company\"), an internally managed, diversified real estate investment trust (\"REIT\"), today announced that, in connection with its previously declared special warrant dividend, Presidio's common stock will trade with \"due bills\" representing the right to receive the warrant dividend during the period following the January 14, 2022 record date through the close of business on the business day before the ex-dividend date to be established by the Nasdaq Stock Market, which is expected to be on or around January 24, 2022. Presidio will separately announce the ex-dividend date once it has been determined.The warrant dividend is payable to those persons who hold shares of common stock and existing outstanding warrants as of the January 14, 2022 record date, or who acquire shares of common stock in the market following the record date, and in each case who continue to hold such shares at the close of trading on the date before the ex-dividend date to be established by the Nasdaq Stock Market.Holders of common stock should consult their broker or financial advisor as to the first day when shares can be sold and the warrant retained.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.Presidio has applied for these warrants to trade on the Nasdaq Capital Market under the symbol SQFTW and expects 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,...