Item 8.01 Other Events
On January 24, 2022, Presidio Property Trust, Inc. (the "Company") distributed
its previously announced dividend of warrants to purchase shares of the
Company's common stock. The warrants commenced trading on the Nasdaq Capital
Market under the symbol "SQFTW" on January 24, 2022.
The NASDAQ Stock Market has established January 24, 2022 as the ex-dividend date
for the dividend of the warrants. The warrant dividend is payable to those
persons who held shares of common stock and existing outstanding warrants as of
January 14, 2022 record date, or who acquired shares of common stock in the
market following the record date, and who continued to hold such shares at the
close of trading on January 21, 2022 (the date before the ex-dividend date.)
Beginning on January 24, 2022, shares of common stock can be sold and the
warrant retained.
The warrants and the shares of common stock issuable upon the exercise of the
warrants have been registered on a registration statement on Form S-11 (File No.
333-260885) that was filed with the Securities and Exchange Commission and was
declared effective on January 21, 2022. The warrants 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.
Also on January 24, 2022, the Company issued a press release announcing the
dividend distribution and ex-dividend date (the "Press Release"). 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 24, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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