Presidio Property Trust completes preferred share exchange into common stock for 149,773 shares tendered
SQFT•Presidio Property Trust accepted 149,773 Series D preferred shares, about 15.4% of those outstanding, for conversion into Series A common stock. Holders will receive 5.5 common shares per preferred share, with settlement expected on or about Oct. 6.
1. Exchange settlement
The exchange offer expired Oct. 2, with 149,773 Series D preferred shares tendered and accepted for conversion. Presidio expects to issue about 823,753 common shares; about 823,963 Series D preferred shares are expected to remain outstanding after settlement.
