Presidio Granted Second 180-Day Period by Nasdaq to Regain Compliance with Minimum Bid Price Rule
December 06 2024 - 4:15PM
Presidio Property Trust, Inc. (“Presidio” or the “Company”)
(NASDAQ: SQFT; SQFTP; SQFTW), an internally managed, diversified
real estate investment trust (“REIT”), today announced that the
Company has been granted an additional 180-day period from Nasdaq’s
Listing Qualification Department, through June 2, 2025, to regain
compliance with the $1.00 minimum bid price requirement for
continued listing on the Nasdaq Capital Market. The Company’s
common stock continues to trade on the Nasdaq Capital Market under
the symbol “SQFT.”
If at any time until June 2, 2025, the closing
bid price of the Company’s common stock is at or above $1.00 per
share for a minimum of ten consecutive trading days, Nasdaq will
provide the Company with written confirmation of compliance. If
compliance cannot be demonstrated during the additional 180-day
grace period, Nasdaq will provide written notification that the
common stock will be subject to delisting. At such time, the
Company may appeal the determination to a Nasdaq Hearings Panel.
The Company intends to monitor the closing bid price of its common
stock between now and June 2, 2025, and intends to consider
available options to cure the deficiency and regain compliance with
the minimum bid price requirement within the compliance period.
About Presidio Property
Trust
Presidio is an internally managed real estate
investment trust with holdings in model home properties, which are
triple net leased to homebuilders, and office, industrial, and
retail properties. Presidio’s model homes are leased to
homebuilders located in Arizona, Illinois, Texas, Wisconsin, and
Florida. Presidio’s office, industrial, and retail properties are
located primarily in Colorado, with properties also located in
Maryland, North Dakota, Texas, and Southern California. Presidio
also owns approximately 4.3% of the outstanding common stock of
Conduit Pharmaceuticals Inc., a disease agnostic multi-asset
clinical-stage life science company providing an efficient model
for compound development. For more information on Presidio, please
visit Presidio’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 RelationsLHartkorn@presidiopt.comTelephone: (760) 471-8536
x1244
This press release was published by a CLEAR® Verified
individual.
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