other material
confidence high
sentiment neutral
materiality 0.50
Alpine Income Property Trust launches $35M ATM offering of 8.00% Series A Preferred Stock
Alpine Income Property Trust, Inc.
- Authorized additional 1,458,334 shares of 8.00% Series A Preferred Stock, total authorized now 3,758,334.
- Up to $35M aggregate gross sales price via at-the-market offering on NYSE or to market makers.
- Sales agents receive commission capped at 2.0% of gross sales price of Preferred Shares sold.
- Manager waives part of Base Management Fee: rate on incremental equity base reduced to 0.75% per annum.
- Net proceeds will be contributed to Operating Partnership in exchange for Series A Preferred Units.