Global Self Storage, Inc. (NasdaqCM:SELF) agreed to acquire Tuxis Self Storage I LLC and Tuxis Self Storage II LLC and Tuxis Real Estate II LLC from Tuxis Corp. (OTCPK:TUXS) for $7.8 million on November 21, 2016. Global Self Storage, Inc. (NasdaqCM:SELF) entered into an agreement to acquire Tuxis Self Storage I LLC and Tuxis Self Storage II LLC and Tuxis Real Estate II LLC from Tuxis Corp. (OTCPK:TUXS) for $7.8 million on November 23, 2016. Under the purchase agreement, Global Self Storage will pay Tuxis an aggregate of $7.8 million, which includes $5.93 million in cash, $0.98 million of Global Self Storage common stock by the issuance of 202,703 shares and contingent upon the satisfaction of certain conditions described in the purchase agreement related to the expansion of the Millbrook self-storage facility, an additional $0.9 cash payment. The payment includes $0.05 million upon execution of this agreement, $0.05 million upon expiration of the due diligence period and remaining cash at closing.

On November 21, 2016, upon the unanimous recommendations of a special committee of independent disinterested directors of Global Self Storage's Board of Directors, the Board authorized the acquisition of all of the membership interests of Tuxis Self Storage I LLC and Tuxis Self Storage II LLC and Tuxis Real Estate II LLC from Tuxis. The closing of the acquisition is subject to certain conditions precedent under the purchase agreement including, among others, approval by Tuxis stockholders. Michael Koehler of Liolios Investor Relations acted as public relations advisor in the deal.

Global Self Storage, Inc. (NasdaqCM:SELF) completed the acquisition of Tuxis Self Storage I LLC and Tuxis Self Storage II LLC and Tuxis Real Estate II LLC from Tuxis Corp. (OTCPK:TUXS) on December 30, 2016.