Company: GIPRW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000950170-25-072868
Chunk: 22

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 22
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 the Units, were offered together, but the securities included in the Units are issued separately. The warrants are exercisable at a price of $20.00 per share of common stock, subject to adjustment in certain circumstances, and will expire seven years from the date of issuance.Investor WarrantsThe Investor Warrants may be exercised on a cashless basis if there is no effective registration statement available for the resale of the shares of common stock underlying such warrants. In addition, after 120 days after the Investor Warrants are issued, any Investor Warrant may be exercised on a cashless basis for 10% of the shares of Common Stock underlying the Investor Warrant if the volume-weighted average trading price of the Company’s shares of Common Stock on Nasdaq is below the then effective exercise price of the Investor Warrant for 10 consecutive trading days.Representative WarrantsIn addition, the Company issued to Maxim Group LLC (or its designee) warrants to purchase an aggregate of 149,850 shares of common stock, which is equal to an aggregate of 9% of the number of shares of common stock sold in the Public Offering (the “Representative’s Warrants”). The Representative’s Warrants have an exercise price equal to $12.50, may be exercised on a cashless basis and became exercisable six months following the closing date and until September 2, 2026.The Company has 819,360 and 852,690 warrants outstanding and exercisable as of March 31, 2025 and March 31, 2024, respectively, as summarized below. Investor Warrants issued on September 8 and 30, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. 

         As of March 31,

         Issue Date
         2025

         April 25, 2019 at an exercise price of $20.00
          
         50,000

         November 13, 2020 at an exercise price of $20.00
          
         50,000

         September 8, 2021 at an exercise price of $10.00
          
         404,510

         September 8, 2021 at an exercise price of $12.50
          
         135,000

         September 30, 2021 at an exercise price of $10.00
          
         165,000