Alpine Income Property launches public offering of Series A Preferred Stock

Alpine Income Property (PINE) Trust announced the launch of a public offering of shares of the Company’s Series A Cumulative Redeemable Preferred Stock with a $25.00 per share liquidation preference. The Company expects to use the net proceeds from the offering for general corporate and working capital purposes, which may include property acquisitions, commercial loan and investment opportunities and repayment of debt, including amounts outstanding under PINE’s credit agreements. PINE intends to file an application to list the Series A Preferred Stock on the New York Stock Exchange under the ticker symbol “PINE-PA.” Raymond James, Stifel and Baird are acting as joint book-running managers for the offering.