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

Jul 12, 2021

SAN DIEGO, CA / ACCESSWIRE / July 12, 2021 / (NASDAQ:SQFT) Presidio Property Trust, an internally managed, diversified real estate investment trust ("REIT"), today announced it has entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 1,000,000 shares of its Class A common stock ("Common Stock"), warrants ("Common Stock Warrants") to purchase up to 2,000,000 shares of Class A common stock and pre-funded warrants ("Pre-Funded Warrants") to purchase up to 1,000,000 shares of Class A common stock. Each share of Common Stock and accompanying Common Stock Warrant are being sold together at a combined offering price of $5.00, and each share of Common Stock and accompanying Pre-Funded Warrant are being sold together at a combined offering price of $4.99. The Pre-Funded Warrants will be 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 will have an exercise price of $5.50 per share, will be exercisable upon issuance and will expire five years from the date of an issuance.

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