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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October
6, 2023
Presidio Property
Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland |
|
001-34049 |
|
33-0841255 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
4995 Murphy Canyon Road, Suite 300
San Diego, California 92123
(Address of principal executive offices, including
zip code)
Registrant’s telephone number, including area
code: (760) 471-8536
Not Applicable
(Former name or former address, if changed since last
report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
|
|
|
|
|
Series A Common Stock, $0.01 par value per share |
|
SQFT |
|
The Nasdaq Stock Market LLC |
|
|
|
|
|
9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share |
|
SQFTP |
|
The Nasdaq Stock Market LLC |
|
|
|
|
|
Series A Common Stock Purchase Warrants to Purchase Shares of Common Stock |
|
SQFTW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
Press Release
On October 6, 2023, Presidio Property Trust, Inc.
(the “Company”) issued a press release announcing the successful merger and commencement of trading of Conduit Pharmaceuticals,
Inc. and made the press release available on its website, www.PresidioPT.com. A copy of the press release is attached hereto as Exhibit
99.1 and is incorporated by reference herein.
The information in this Item 8.01 of this Current
Report on Form 8-K, including the information contained in the press release, is being furnished pursuant to Item 8.01 “Other Events,”
and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and is not incorporated by reference into any of the filings of the Company under the Securities Act of 1933, as amended
or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in any such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is being
filed herewith:
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: October 10, 2023 |
PRESIDIO PROPERTY TRUST, INC. |
|
|
|
By: |
/s/ Ed Bentzen |
|
|
Ed Bentzen |
|
|
Chief Financial Officer |
Exhibit
99.1
PRESIDIO
PROPERTY TRUST ANNOUNCES CLOSING OF MERGER OF ITS SPONSORED SPAC MURPHY CANYON ACQUISITION CORP NOW TRADING AS CONDUIT PHARMACEUTICALS
(Nasdaq: CDT AND CDTTW)
|
● |
Presidio’s
sponsored SPAC completed its previously announced business combination with Conduit Pharmaceuticals, Inc. |
|
● |
Conduit
now trades on the Nasdaq under ticker symbol “CDT” for its common stock on the Global Market and ticker symbol “CDTTW”
for its warrants on the Capital Market |
SAN
DIEGO, CA / October 6, 2023 / Presidio Property Trust, Inc., (NASDAQ: SQFT; SQFTP; SQFTW) (“Presidio” or the “Company”),
today announced the successful merger with and commencement of trading of Conduit Pharmaceuticals, Inc., now trading on Nasdaq under
the ticker symbol CDT for common stock on the Global Market and ticker symbol CDTTW for warrants on the Capital Market. In connection
with the completion of the merger, Presidio’s sponsored SPAC Murphy Canyon Acquisition Corp. changed its name to Conduit Pharmaceuticals
Inc. Conduit is a disease agnostic multi-asset clinical-stage disease-agnostic life science company providing an efficient model for
compound development. The transition highlights Presidio’s commitment to innovative growth strategies and broadening its investment
portfolio.
The
merger process was completed on September 22, 2023, following the definitive business combination agreement announced previously. As
a result of this transaction, Presidio now owns a total of 4,015,250 shares of Conduit and warrants to purchase 709,000 shares of Conduit.
“Presidio
is proud to have been a part of this successful SPAC transaction, reflecting our confidence in the growth and future prospects of Conduit,”
said Jack Heilbron, CEO of Presidio Property Trust. “We firmly believe in the strategy and leadership of Conduit, and we are excited
about the possibilities that this de-SPAC brings to Presidio’s shareholders, which can now finally be recognized as an asset on
Presidio’s balance sheet.”
About
Presidio Property Trust
Presidio
is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office,
industrial, and retail properties. Presidio’s model homes are leased to homebuilders located in Arizona, Illinois, Texas, Wisconsin,
and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland,
North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through
economies of scale by servicing several properties with less staff, it makes us susceptible to changing market conditions in these discrete
geographic areas, including those that have developed as a result of COVID-19. Presidio owns approximately 6.5% of the outstanding common
stock of Conduit Pharmaceuticals Inc., a disease agnostic multi-asset clinical-stage disease-agnostic life science company providing
an efficient model for compound development. For more information on Presidio, please visit the Company’s website at https://www.PresidioPT.com
.
Investor
Relations Contact:
Presidio
Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244
Cautionary
Note Regarding Forward-Looking Statements
This
press release contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding
management’s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified
by such words as “believe,” “expect,” “anticipate,” “intend,” “estimate,”
“may,” “will,” “should” and “could.” Because such statements include risks, uncertainties
and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking
statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Except as required
by law, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance
upon forward-looking statements. For further discussion of the factors that could affect outcomes please refer to the Company’s
filings with the SEC, including those under “Risk Factors” therein, copies of which are available on the SEC’s website,
www.sec.gov.
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Grafico Azioni Presidio Property (NASDAQ:SQFTP)
Storico
Da Set 2024 a Ott 2024
Grafico Azioni Presidio Property (NASDAQ:SQFTP)
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Da Ott 2023 a Ott 2024