Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 1272

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1272
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7 million (some of which is held in deposits reserve accounts by our lenders) on capital improvements, tenant improvements and leasing costs for properties within our portfolio during the rest of the year. Capital expenditures may fluctuate in any given period subject to the nature, extent, and timing of improvements required to the properties. We may spend more 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 year ended December 31, 2024 was $10.6 million compared to $132.1 million provided by financing activities for the same period in 2023 and was primarily due to the following activities for the year ended December 31, 2024:

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      Proceeds from mortgage notes payable, net of issuance costs totaled approximately $22.3 million. 

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      Proceeds from the issuance of Series D Preferred Stock, net of offering costs, totaled approximately $1.2 million. 

      • 
      Repayment of mortgage notes payable totaled approximately $27.9 million during the year ended December 31, 2024. 

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      Distributions to noncontrolling interest of approximately $3.4 million during the year ended December 31, 2024. 

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      Dividends paid to Series D Preferred Stockholders of approximately $2.2 million during the year ended December 31, 2024. 

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     Cash used to repurchase our Series A Common Stock and Series D Preferred Stock totaled approximately $0.2 million.

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 1,000,000 shares of its Series A Common Stock, Common Stock Warrants to purchase up to 2,000,000 shares of Series A Common Stock and Pre-Funded Warrants to purchase up to 1,000,000 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 $5.00, and each share of Common Stock and accompanying Pre-Funded W