Presidio Property Trust Announces Reverse Stock Split
Reverse Stock Split Announcement: Presidio Property Trust, Inc. will implement a 1-for-10 reverse stock split of its Series A Common Stock on May 19, 2025, to increase the share price and comply with Nasdaq listing requirements.
Impact on Shareholders: The reverse stock split will consolidate shares without affecting the percentage ownership of shareholders, and fractional shares will be rounded up to the nearest whole share for holders post-split.
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Presidio Property Trust Reveals Mortgage Refinance for Commercial Property
Refinancing Announcement: Presidio Property Trust refinanced the mortgage loan on its One Park Center property in Westminster, Colorado, securing a $6.1 million loan with a five-year term and a 6.83% interest rate, including interest-only payments for the first six months.
Company Overview: Presidio is a diversified, internally managed REIT with properties primarily in the sun belt states, including model homes leased to homebuilders, as well as office, industrial, and retail properties mainly located in Colorado and other states.
Presidio Property Trust Announces Pricing of a Registered Direct Offering of Common Stock
Securities Purchase Agreement: Presidio Property Trust has entered into a securities purchase agreement with an institutional investor to sell 170,830 shares of common stock at $12.00 per share, generating approximately $2.05 million in gross proceeds for working capital and corporate purposes.
Warrant Amendment: The company will amend existing warrants to reduce the exercise price to $12.00 per share, expiring five years from the amendment date, with a resale registration to be filed within 30 days.