secwatch.observer — SEC 8-K summary
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Issuer:     Presidio Property Trust, Inc. (SQFT)
CIK:        0001080657
Form:       8-K
Filed at:   2023-03-08T23:59:59+00:00
Accession:  0001493152-23-006987
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Presidio SPAC sponsor issues up to $1.5M promissory note to extend business combination deadline to Feb 2024
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- Murphy Canyon Acquisition Corp. issued up to $1.5M promissory note to its sponsor, a Presidio subsidiary.
- Note bears no interest; initial draw of $300,000 on March 7, 2023 to fund trust account and expenses.
- SPAC's termination date for initial business combination extended from Feb 7, 2023 to Feb 7, 2024 on month-to-month basis.
- Note repayable upon consummation of business combination or winding up of SPAC.
- SPAC is controlled by Presidio due to equity ownership and overlapping officers/directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080657/000149315223006987/0001493152-23-006987-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080657/000149315223006987/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-006987

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer