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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): July
3, 2023
Presidio Property
Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland |
|
001-34049 |
|
33-0841255 |
(State or other jurisdiction |
|
(Commission |
|
(IRS Employer |
of incorporation) |
|
File Number) |
|
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 July 3, 2023, 2023, Presidio Property Trust, Inc.
(the “Company”) issued a press release regarding the third quarterly common stock dividend increase paid on June 30, 2023.
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:
SIGNATURE
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.
|
PRESIDIO PROPERTY TRUST, INC. |
|
|
|
|
By: |
/s/ Adam Sragovicz |
|
Name: |
Adam Sragovicz |
|
Title: |
Chief Financial Officer |
|
|
|
Dated: July 6, 2023 |
|
|
Exhibit
99.1
Presidio
Property Trust Pays Third Consecutive Quarterly Dividend Increase
Presidio
Property Trust pays cash dividend of $0.023 per share
San
Diego, CA – July 3, 2023 – (NASDAQ: SQFT; SQFTP) Presidio Property Trust, Inc. (“Presidio” or the “Company”),
an internally managed, diversified real estate investment trust (“REIT”), today announced that on June 30, 2023 the Company
paid its third consecutive quarterly common stock dividend increase since September 30, 2023. The common stock dividend of $0.023 per
share was paid on Friday, June 30, 2023 to all stockholders of record as of the close of business on June 27, 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 is also the sponsor of the Special Purpose Acquisition
Company (SPAC) Murphy Canyon Acquisition Corp. (NASDAQ: MURF), which currently holds approximately $23.3 million in trust. Murphy Canyon
Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization, or similar business combination with one or more businesses. 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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