Item 8.01 Other Events
On January 13, 2022, Presidio Property Trust, Inc. (the "Company") issued a
press release (the "Press Release") announcing that that, in connection with its
previously declared special warrant dividend, the Company's common stock will
trade with "due bills" representing the right to receive the warrant dividend
during the period following the January 14, 2022 record date through the close
of business on the business day before the ex-dividend date to be established by
the Nasdaq Stock Market, which is expected to be on or around January 24, 2022.
The Company will separately announce the ex-dividend date once it has been
determined.
The warrant dividend will be payable to those persons who hold shares of common
stock and existing outstanding warrants as of the January 14, 2022 record date,
or who acquire shares of common stock in the market following the record date,
and in each case who continue to hold such shares at the close of trading on the
date before the ex-dividend date to be established by the Nasdaq Stock Market.
Holders of common stock should consult their broker or financial advisor as to
the first day when shares can be sold and the warrant retained.
The warrant dividend is expected to be issued on or around January 24, 2022.
These warrants will give the holder the right to purchase one share of common
stock at $7.00 per share, for a period of five years. Should shareholders not
convert the warrants during that holding period, the warrants will automatically
convert to 1/10 of a common share at expiration, rounded down to the nearest
number of whole shares.
The Company has applied for these warrants to trade on the Nasdaq Capital Market
under the symbol SQFTW and expects trading to begin on or around January 24,
2022. The warrants and the shares of common stock issuable upon the exercise of
the warrants will be registered on a registration statement on Form S-11 (File
No. 333-260885) that was filed with the Securities and Exchange Commission and
is expected to be declared effective on or around January 21, 2022.
This Form 8-K shall 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
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such
jurisdiction.
A copy of the Press Release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibit is being filed herewith:
99.1 Press Release Dated January 13, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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