Presidio Property Trust Announces Expiration and Results of Exchange Offer for All Outstanding Shares of its Series D Preferred Stock

Impact · against what's priced in

The exchange offer for Series D Preferred Stock was largely unsuccessful, with only a 15.4% take-up rate. This leaves a significant high-coupon dividend burden on the balance sheet while simultaneously diluting common shareholders through the issuance of 823,753 new shares.

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Presidio Property Trust Announces Expiration and Results of Exchange Offer for All Outstanding Shares of its Series D Preferred Stock

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Presidio Property Trust Announces Expiration and Results of Exchange Offer for All Outstanding Shares of its Series D Preferred Stock

What matters in this story

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Presidio Property Trust Announces Expiration and Results of Exchange Offer for All Outstanding Shares of its Series D Preferred Stock

What matters in this story

Next reads from the same story arc

Howard Hughes Holdings: Double Bottom, A New Insurance Engine, And A Second Chance For The Breakout

Presidio Property Trust Announces Expiration and Results of Exchange Offer for All Outstanding Shares of its Series D Preferred Stock

What matters in this story

Next reads from the same story arc

Howard Hughes Holdings: Double Bottom, A New Insurance Engine, And A Second Chance For The Breakout

How each ticker is affected

Track these names every morning.

Annaly Capital Management (NLY) Stock Dips While Market Gains: Key Facts

AMTD's TGE in Negotiations to Acquire a second New York Hotel

Walker & Dunlop Arranges $630 Million Refinance for IMT Portfolio

Service Properties Trust: Survival Secured, But Shareholders Paid The Price