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SAN DIEGO, CA / ACCESSWIRE / June 17, 2021 / (NASDAQ:SQFT)(NASDAQ:SQFTP) Presidio Property Belief (“Presidio” or the “Firm”), an internally managed, diversified actual property funding belief (“REIT”), at present introduced that the underwriters of its 9.375% Collection D Cumulative Redeemable Perpetual Most well-liked Inventory (the “Collection D Most well-liked Inventory”) have exercised in full their over-allotment choice to buy an extra 120,000 shares of Collection D Most well-liked Inventory from Presidio at a value to the general public of $25.00 per share for gross proceeds of $3.0 million, previous to deducting underwriting reductions and commissions. After giving impact to the train of the over-allotment possibility, a complete of 920,000 shares have been bought within the providing, leading to gross proceeds to Presidio of $23.0 million. Presidio intends to make use of the online proceeds of the providing for basic company and dealing capital functions, together with to probably purchase extra properties.
Shares of the Collection D Most well-liked Inventory started buying and selling on the Nasdaq Capital Market on June 11, 2021, beneath the image “SQFTP”.
The Benchmark Firm, LLC acted as sole bookrunning supervisor for the providing. Aegis Capital Corp., Colliers Securities LLC, and Spartan Capital Securities, LLC acted as co-managers.
A registration assertion on Kind S-11 (File No. 333-256150) regarding the providing was declared efficient by the Securities and Trade Fee (“SEC”) on June 10, 2021, and an extra registration assertion on Kind S-11 filed pursuant to Rule 462(b) (File No. 333-257002) turned robotically efficient on June 10, 2021.
A duplicate of the ultimate prospectus regarding the providing was filed with and is on the market on the SEC’s web site at www.sec.gov. Digital copies of the ultimate prospectus could also be obtained by contacting The Benchmark Firm, LLC, Attn: Prospectus Division, 150 E. 58th Road, seventeenth Ground, New York, New York 10155 or by calling (212) 312-6700 or by emailing prospectus@benchmarkcompany.com.
This press launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of those securities in any state or jurisdiction wherein such supply, solicitation, or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or jurisdiction.
About Presidio Property Belief
Presidio is an internally managed, diversified REIT with holdings in workplace, industrial, and retail properties, and mannequin dwelling properties that are triple-net leased to homebuilders. Presidio’s mannequin houses are leased to homebuilders positioned primarily in Texas and Florida and its workplace, industrial and retail properties are positioned primarily in Colorado, with properties additionally positioned in North Dakota and in Southern California. Whereas geographical clustering of actual property permits Presidio to cut back its working prices via economies of scale by servicing quite a lot of properties with much less employees, it makes Presidio prone to altering market circumstances in these discrete geographic areas, together with those who have developed on account of COVID-19. For extra data on Presidio, please go to the Firm’s web site at https://www.PresidioPT.com.
Cautionary Observe Relating to Ahead-Trying Statements
This press launch comprises statements which can be “forward-looking statements” throughout the which means of the Non-public Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended, and different federal securities legal guidelines. Ahead-looking statements are statements that aren’t historic, together with statements concerning administration’s intentions, beliefs, expectations, representations, plans or predictions of the long run, and are sometimes recognized by such phrases as “imagine,” “anticipate,” “anticipate,” “intend,” “estimate,” “might,” “will,” “ought to” and “may.” As a result of such statements embody dangers, uncertainties and contingencies, precise outcomes might differ materially from these expressed or implied by such forward-looking statements. These forward-looking statements are based mostly upon the Firm’s current expectations, however these statements aren’t assured to happen. Besides as required by regulation, the Firm disclaims any obligation to publicly replace or revise any forward-looking assertion to replicate modifications in underlying assumptions or elements, of latest data, information or strategies, future occasions or different modifications. Buyers shouldn’t place undue reliance upon forward-looking statements. For additional dialogue of the elements that might have an effect on outcomes, please check with the “Threat Components” part of the ultimate prospectus regarding the general public providing and within the Firm’s different paperwork filed with the SEC, copies of which can be found on the SEC’s web site, www.sec.gov.
Investor Relations Contacts:
Presidio Property Belief, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Phone: (760) 471-8536 x1244
SOURCE: Presidio Property Belief
View supply model on accesswire.com:
https://www.accesswire.com/652166/Presidio-Property-Trust-Announces-Full-Exercise-of-Over-Allotment-Option
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