Company: SQFTP
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026786
Chunk: 116

Company: Presidio Property Trust, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 11:59 P.M., New York City time, on May 5, 2025. Based on the final count by the depositary for the Offer, 214,412 shares of Class A common stock were validly and successfully tendered and not properly withdrawn, including tenders of shares for which the tender was defective but for which the Company waived such defects. Pursuant to the terms of the Offer, the Company accepted for purchase 214,412 shares of Class A common stock, including 1,209 odd lot shares. Total cash required to complete the tender offer was approximately $1,458,000, excluding fees and expenses related to the Offer.  We believe that the tender offer provided an efficient mechanism to provide our stockholders who desired immediate liquidity with the opportunity to tender shares at a favorable price relative to the current market price and without incurring broker’s fees associated with most secondary market sales, while also providing a benefit to those stockholders who did not participate, as such stockholders automatically increased their relative percentage ownership interest in the Company and our future operations, including any liquidity events that we may have in the future.  Another purpose of the Offer was to reduce the number of our issued and outstanding shares and to reduce or eliminate all of our odd lots.  Overall, we believe that the Offer was a prudent use of our financial resources given our business profile, capital structure, assets and liabilities. 

Stock repurchases for Series D Preferred Stock.

      Month 
      
      Total Number of Shares Purchased 

      Average Price Paid Per Share 

      Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 

      Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 

      April 2025 

     —

     $
     —

     —

     $
     3,764,119

      May 2025 

     4,620

     14.16

     4,620

     3,698,678

      June 2025 

     4,795

     14.05

     4,795

     3,631,303

      Total 

     9,415

     $
     14.06

     9,415

     $
     3,631,303

       47

Item 3. Defaults Upon Senior Securities.

On March 13, 2025, we received notice of a maturity date default of