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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): December 5, 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
December 5, 2023, Presidio Property Trust, Inc. (the “Company”) issued a press release announcing a fourth-quarter
2023 cash dividend 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:
December 5, 2023 |
PRESIDIO
PROPERTY TRUST, INC. |
|
|
|
By: |
/s/
Ed Bentzen |
|
|
Ed
Bentzen |
|
|
Chief
Financial Officer |
Exhibit
99.1
Presidio
Property Trust Declares Fourth-Quarter 2023 Dividend
Board
of Directors approves cash dividend of $0.023 per share
San
Diego, CA – December 5, 2023 – (NASDAQ: SQFT; SQFTP, SQFTW) Presidio Property Trust, Inc. (“Presidio” or
the “Company”), an internally managed, diversified real estate investment trust (“REIT”), today announced that
its Board of Directors has authorized a cash dividend of $0.023 per share on its Series A Common Stock for the fourth quarter of 2023.
The
dividend will be payable on December 26, 2023, to all stockholders of record as of the close of business on December 18, 2023.
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
.
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.
Investor
Relations Contact:
Presidio
Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244
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