Company: SQFTP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001437749-25-034461
Chunk: 106

Company: Presidio Property Trust, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 on capital expenditures in the future due to rising construction costs. Tenant improvements and leasing costs may also fluctuate in any given year depending upon factors such as the property, the term of the lease, the type of lease, the involvement of external leasing agents and overall market conditions.

Financing Activities: Net cash used in financing activities during the nine months ended September 30, 2025, was $11.1 million compared to $9.3 million provided by financing activities for the same period in 2024 and was primarily due to the following activities for the nine months ended September 30, 2025:

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     Proceeds from mortgage notes payable, net of issuance costs totaled approximately $18.9 million, and payment of debt issuance costs totaled approximately $0.3 million.

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     Proceeds from the sale of Series A Common Stock, totaled approximately $1.7 million, net of offering costs.

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     Proceeds used for the repurchase of Series A Common Stock, totaled approximately $1.6 million, including stock repurchased in the Offer.

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     Proceeds used for the repurchase of Series D Preferred Stock, totaled approximately $0.3 million.

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     Repayment of mortgage notes payable totaled approximately $27.1 million for the nine months ended September 30, 2025.

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     Distributions to noncontrolling interest of approximately $0.5 million for the nine months ended September 30, 2025.

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     Dividends paid to Series D Preferred Stockholders of approximately $1.7 million for the nine months ended September 30, 2025.

Off-Balance Sheet Arrangements

On July 12, 2021, the Company entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 100,000 shares of its Series A Common Stock, Common Stock Warrants to purchase up to 200,000 shares of Series A Common Stock and Pre-Funded Warrants to purchase up to 200,000 shares of Series A Common Stock. Each share of Common Stock and accompanying Common Stock Warrants were sold together at a combined offering price of $50.00, and each share of Common Stock and accompanying Pre-Funded Warrant were sold together at a combined offering price of $49.90. The Pre-Funded Warrants were exercised in full during August 2021 at a