Generation Income Properties Announces Closing of Underwriters’ Option to Purchase Additional Units in its Public Offering
TAMPA, FL / ACCESSWIRE / September 30, 2021 / Generation Income Properties, Inc. (“GIP” or the “Company”) (NASDAQ: GIPRU), a Maryland real estate investment firm focused on retail, office and industrial properties located primarily in major cities and coastal towns of the United States, today announced the closing of the sale of 165,000 units additional units, each unit being composed of one common share and one purchase warrant for one common share, at a price of $ 10 per unit pursuant to the partial exercise of the underwriters’ over-allotment option as part of its public offering which closed on September 8, 2021. The partial exercise of the surplus The grant option generated gross proceeds of approximately $ 1,650,000, bringing the total gross proceeds of the public offering at approximately $ 16,650,000.
Maxim Group LLC acted as the sole accounting manager of the offer and Joseph Gunnar & Co. LLC acted as co-manager of the offer.
Common shares and warrants will begin to trade separately 31 days from the date the registration statement was declared effective, unless Maxim notifies the Company of its decision to authorize separate trading. earlier and the Company does not publicly announce when separate trading will commence.
A registration statement on Form S-11 (File No. 333-235707) has been filed with the Securities and Exchange Commission (“SEC”) and came into effect on September 2, 2021. A final prospectus relating to the offer has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. The offer was made only by means of a prospectus forming part of the actual registration statement. Electronic copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745. Before investing in the securities of the Company, interested parties should read in its entirety the registration statement that the Company has filed with the SEC, which provides additional information about the Company and this offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be. illegal before registration or qualification. under the securities laws of any such state or jurisdiction.
About Generation Income Properties
Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment company formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial properties. located mainly in cities of the United States. with an emphasis on the main primary and coastal markets. GIP intends to elect to be taxed as a real estate investment trust. GIP invests primarily in independent single-tenant commercial, office and industrial buildings. Additional information about Generation Income Properties, Inc. is available on the company’s website: www.gipreit.com.
Caution regarding forward-looking statements:
This press release, whether or not expressly stated, may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. The words “believe”, “intend”, “s ‘expect’, ”,“ will ”,“ would ”and similar phrases and all statements, which are not historical facts, are intended to identify forward-looking statements. It reflects the Company’s expectations regarding future events and economic performance and is forward-looking in nature and, therefore, is subject to risks and uncertainties. These forward-looking statements include risks and uncertainties which could cause actual results to differ materially from those expressed or implied by these forward-looking statements which are, in certain cases, beyond the control of the Company, which could have an impact. material adverse effect on the Company’s activities. , financial condition and results of operations. Some of these risks and uncertainties are identified in the registration statement on form S-11 (file no. 333-235707) and the final prospectus when available, the most recent annual report of the company on the form 1-K and its other documents filed with the SEC. , which are available on www.sec.gov. The occurrence of any of these risks and uncertainties could have a material adverse effect on the business, financial condition and results of operations of the Company. For these and other reasons, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Any forward-looking statements we make here speak only as of the date on which they are made. The Company assumes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as required by law.
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THE SOURCE: Generation Income Properties, Inc.
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