other material
confidence high
sentiment neutral
materiality 0.80
Alpine Income Property Trust prices 2M share Series A Preferred Stock offering at $25 per share
Alpine Income Property Trust, Inc.
- Company issued 2,000,000 shares of 8.00% Series A Cumulative Redeemable Preferred Stock at $25.00 per share, with underwriter option for up to 300,000 additional shares.
- Dividends on Series A Preferred Stock are cumulative at 8.00% per annum, payable quarterly starting December 31, 2025.
- Preferred Stock ranks senior to common stock; not redeemable before November 12, 2030 except in limited circumstances.
- Manager waived portion of base management fee on incremental equity from preferred stock, reducing rate to 0.75% per annum.
- Underwriting agreement with Raymond James, Stifel, and Robert W. Baird; offering expected to close November 12, 2025.