Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:56 AM
|This Slide: #35 of 573|
Slide #35. Presidio Property Trust — Preferred Stock Offering
Presidio Property Trust (NASDAQ:SQFT)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Presidio Property Trust, an internally managed, diversified real estate investment trust ("REIT"), today announced the pricing of its public offering of 800,000 shares of its Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock") at a price to the public of $25.00 per share. Gross proceeds from the offering are expected to be approximately $20.0 million, before deducting offering expenses. The shares of Series D Preferred Stock are expected to start trading on The Nasdaq Capital Market on June 11, 2021, under the symbol "SQFTP". The offering is expected to close on or about June 15, 2021, subject to the satisfaction of customary closing conditions. The Benchmark Company, LLC is acting as sole bookrunning manager for the offering. Aegis Capital Corp., Colliers Securities LLC and Spartan Capital Securities, LLC are acting as co-managers. Presidio has granted the underwriters a 45-day option to purchase up to an additional 120,000 shares of Series D Preferred Stock to cover over-allotments, if any.
Presidio Property Trust is a real estate investment trust. Co. invests in a multi-tenant portfolio of real estate assets. Co.'s business segments are Office/Industrial Properties, Model Home Properties and Retail Properties. Co.'s office, industrial and retail properties are located primarily in North Dakota and Colorado. Co.'s subsidiary, NetREIT Dubose Model Home REIT, Inc. (NetREIT Dubose), is engaged in the business of acquiring Model Homes from third party homebuilders in sale-leaseback transactions whereby a homebuilder sells the Model Home to NetREIT Dubose and leases back the Model Home under a triple net lease for use in marketing its residential development.
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Buy (3.00 out of 4)
(ranked lower than approx. 80% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com