Presidio Property Trust Reports Expiration of Series D Preferred Stock Exchange Offer
Presidio Property Trust accepted all 149,773 Series D Preferred Stock shares validly tendered in its exchange offer, with settlement expected on or about October 6, 2026.
Presidio Property Trust, Inc. (NASDAQ:SQFT, NASDAQ:SQFTP and NASDAQ:SQFTW) has reported the expiration and results of its offer to exchange its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for newly issued Series A Common Stock. The offer ended at 11:59 p.m., New York City time, on October 2, 2026.
By the deadline, holders had validly tendered and not withdrawn 149,773 shares of Series D Preferred Stock. Presidio said that amount represented approximately 15.4% of the outstanding Series D Preferred Stock, and that all validly tendered shares were accepted.
Under the exchange terms, participating holders will receive 5.5 shares of Common Stock for each Series D Preferred Stock share accepted. Presidio expects to issue approximately 823,753 shares of Common Stock through the offer.
Presidio expects to settle the exchange offer on or about October 6, 2026. The company identifies the expected settlement and the expected number of Common Stock shares to be issued as forward-looking statements based on its present expectations; actual outcomes or results may differ materially from those expressed or implied.
No fractional Common Stock shares will be issued. Where an exchange would otherwise result in a fractional share, the participating holder's issuance will be rounded up to the nearest whole share. Presidio said this adjustment will be made at the participant level rather than at the beneficial-owner level.
The offer was not subject to a minimum number of Series D Preferred Stock shares being tendered and did not depend on financing conditions. Certain directors and executive officers participated by tendering their Series D Preferred Stock. They are to receive Common Stock on the same terms as other participating holders, including the 5.5-for-1 exchange ratio.
Presidio reported that 973,736 Series D Preferred Stock shares were outstanding as of October 2, 2026. Following settlement, approximately 823,963 shares are expected to remain outstanding.
Presidio describes itself as an internally managed, diversified real estate investment trust. Its portfolio includes model homes triple-net leased to homebuilders, along with office, industrial and retail properties. The model homes are located primarily in the Sun Belt states. The other properties are located primarily in Colorado, with additional holdings in Maryland, North Dakota, Texas and Southern California.
The Series D Preferred Stock trades on the Nasdaq Capital Market under the symbol “SQFTP,” while the Common Stock trades under “SQFT.” Broadridge Corporate Issuer Solutions, LLC served as the information agent and exchange agent.
The prospectus, registration statement, Schedule TO and related filings contain the full terms of the exchange offer and additional information about Presidio and the transaction. Those documents were filed with the U.S. Securities and Exchange Commission. Further terms, conditions, restrictions and obligations of the exchange offer apply as set out in those filings.
The Series D Preferred Stock exchange offer expired at 11:59 p.m., New York City time, on October 2, 2026.
Presidio accepted all 149,773 shares validly tendered and not withdrawn, representing approximately 15.4% of outstanding Series D Preferred Stock.
Participating holders will receive 5.5 Common Stock shares for each accepted Series D Preferred Stock share, with approximately 823,753 Common Stock shares expected to be issued.
Settlement is expected on or about October 6, 2026, subject to the forward-looking statement qualifications provided by the company.
Approximately 823,963 Series D Preferred Stock shares are expected to remain outstanding after settlement.
Presidio Property Trust announced that its previously announced offer to exchange outstanding 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for newly issued Series A Common Stock had expired. The company accepted all validly tendered shares that had not been validly withdrawn.
Presidio Property Trust's exchange offer expired at 11:59 p.m., New York City time, on October 2, 2026. The announcement was dated October 5, 2026.
A total of 149,773 shares of Series D Preferred Stock were validly tendered and not validly withdrawn by the Expiration Date. Presidio Property Trust said this represented approximately 15.4% of the outstanding Series D Preferred Stock.
Presidio Property Trust accepted all 149,773 shares of Series D Preferred Stock that were validly tendered and not validly withdrawn. The offer was not contingent upon any minimum number of shares being tendered or any financing conditions.
Presidio Property Trust expects to settle the exchange offer on or about October 6, 2026. The company identifies the settlement and expected number of shares to be issued as forward-looking statements, and says actual outcomes or results may differ materially from those expressed or implied.
Presidio Property Trust will not issue fractional shares of Common Stock. If a fractional share would otherwise be issuable, the number of Common Stock shares issued to the participating holder will be rounded up to the nearest whole number; fractional shares will be rounded at the participant level rather than at the beneficial level.
Presidio Property Trust states that approximately 823,963 shares of Series D Preferred Stock will remain outstanding following settlement. As of October 2, 2026, 973,736 shares of Series D Preferred Stock were outstanding.
The announcement identifies Presidio Property Trust with (NASDAQ:SQFT), (NASDAQ:SQFTP) and (NASDAQ:SQFTW). It says the Series D Preferred Stock and Common Stock are listed on the Nasdaq Capital Market under the symbols "SQFTP" and "SQFT," respectively.
Presidio Property Trust describes itself as an internally managed, diversified real estate investment trust with model home properties that are triple-net leased to homebuilders, as well as office, industrial and retail properties. Its model homes are located primarily in the Sun Belt states, while its other properties are located primarily in Colorado, with additional properties in Maryland, North Dakota, Texas and Southern California.
Certain Presidio Property Trust directors and executive officers tendered their Series D Preferred Stock in the exchange offer. The company said they will receive Common Stock on the same terms as other tendering holders, including the same exchange ratio.
The Prospectus, Schedule TO, registration statement and other documents containing important information about Presidio Property Trust and the exchange offer are available free through the U.S. Securities and Exchange Commission's website at www.sec.gov. The information agent, Broadridge Corporate Issuer Solutions, LLC, can also be contacted at [email protected] or 888-789-8409.