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Resurgent Realty Trust Reduces Offer Price for Generation Income Properties, Inc. (“GIPR”) Shares
Amends Offer to $1.45 per Share Due to Reduction in Net Asset Value (“NAV”) From Two Recent Asset Sales Resurgent Believes the Recent GIPR Share Price Declines Reflect a Lack of Belief in Current GIPR Leadership by the Investment Community VIRGINIA BEACH, Va., June 18, 2025 (GLOBE NEWSWIRE) -- Resurgent Realty Trust (“RRT”), a shareholder of Generation Income Properties, Inc. (NASDAQ: GIPR) (“GIPR” or the “Company”), announced the withdrawal of its prior offers to purchase GIPR shares at $2.50,
About this update from Generation Income Properties Inc.
Amends Offer to $1.45 per Share Due to Reduction in Net Asset Value (“NAV”) From Two Recent Asset Sales Resurgent Believes the Recent GIPR Share Price Declines Reflect a Lack of Belief in Current GIPR Leadership by the Investment Community VIRGINIA BEACH, Va., June 18, 2025 (GLOBE NEWSWIRE) -- Resurgent Realty Trust (“RRT”), a shareholder of Generation Income Properties, Inc. (NASDAQ: GIPR) (“GIPR” or the “Company”), announced the withdrawal of its prior offers to purchase GIPR shares at $2.50, $2.75 and $3.00 due to the negative impact of GIPR’s recent asset sales on its NAV along with the continued erosion of GIPR’s share price. The current offer represents a discount of approximately 15% to Resurgent’s estimated NAV for GIPR of $1.70. Resurgent also reiterated its intention to pursue all legal remedies to maximize the value of its investment in GIPR, including a formally requested non-disclosure agreement and proxy questionnaire from GIPR pursuant to Resurgent’s intent to nominate an alternate slate of directors for election at the company’s next annual meeting. Investors Jon Wheeler Assignees of Resurgent, Inc. [email protected] (757) 621-2873
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