Presidio Property Trust (SQFT) Announces $10M Direct Offering

Presidio Property Trust (NASDAQ: SQFT) 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.

The offering is expected to close on or about July 14, 2021, subject to customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering. The Benchmark Company LLC is acting as a financial advisor to the Company.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-251779) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

You May Also Be Interested In

• Daré Bioscience prices $6M direct offering at $1.37 per share
• Optimum Communications gets NYSE non-compliance notice over stock price
• KKR to sell 5 million BridgeBio shares in secondary offering