Alpine Income Property Trust Announces Public Offering
Alpine Income Property Trust, Inc. (NYSE: PINE) has officially announced the launch of its public offering for the Series A Cumulative Redeemable Preferred Stock, which has a liquidation preference of $25.00 per share. This initiative reflects the company’s strategic approach to expanding its capital base and enhancing its operational activities.
Purpose of the Offering
The proceeds from this offering are expected to be directed towards various corporate expenditures. These include potential property acquisitions, commercial loans, investment opportunities, and debt repayment associated with the company's credit agreements. The strategic use of these funds underscores the company's commitment to sustainable growth and value creation.
Listing Plans on the New York Stock Exchange
Alpine intends to file for the listing of the Series A Preferred Stock on the New York Stock Exchange, under the ticker symbol “PINE-PA.” This move would provide investors with more accessible trading options and enhance market visibility for the company.
Management and Underwriters
In this venture, financial firms such as Raymond James, Stifel, and Baird are serving as joint book-running managers for the offering. These established firms are expected to leverage their extensive market experience to ensure a successful launch of this new offering.
Offer Details and Registration
The Series A Preferred Stock will be included in the company’s existing shelf registration statement filed with the Securities and Exchange Commission (SEC). The offering will occur solely through a prospectus supplement and the accompanying prospectus, ensuring that all regulatory requirements are met for a smooth transaction.
About Alpine Income Property Trust, Inc.
As a publicly traded real estate investment trust, Alpine Income Property Trust, Inc. focuses on delivering attractive risk-adjusted returns along with dependable cash dividends. The company achieves this by investing in and managing a diversified portfolio of single tenant net leased commercial income properties. These properties are predominantly leased to high-quality, publicly traded tenants, ensuring reliability in revenue generation.
Contact Information
For further inquiries regarding the offering, you can reach out to:
Philip R. Mays
Senior Vice President, Chief Financial Officer and Treasurer
(407) 904-3324
pmays@alpinereit.com
Frequently Asked Questions
What is the purpose of Alpine Income Property Trust's offering?
The offering aims to raise capital for various corporate expenditures, including property acquisitions and debt repayment.
How much is the liquidation preference for the Series A Preferred Stock?
The Series A Preferred Stock has a liquidation preference of $25.00 per share.
What will the proceeds be used for?
The proceeds will be used for general corporate purposes, including potential acquisitions and repayment of existing debt.
Who are the underwriters for this offering?
Raymond James, Stifel, and Baird are acting as joint book-running managers for this offering.
Where will the Series A Preferred Stock be listed?
The company intends to list the Series A Preferred Stock on the New York Stock Exchange under the ticker symbol 'PINE-PA.'
