Alpine Income Property Trust (PINE) Prices 7.5M Share IPO at $19/Sh

Alpine Income Property Trust, Inc. (NYSE: PINE) announced today that it has priced its initial public offering of 7,500,000 shares of common stock at an initial public offering price of $19.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Settlement of the offering is expected to occur on November 26, 2019, subject to customary closing conditions. The shares are expected to begin trading on the New York Stock Exchange under the symbol “PINE” on November 22, 2019.

Raymond James & Associates, Inc., Robert W. Baird & Co. Incorporated, B. Riley FBR, Inc. and BMO Capital Markets Corp. are acting as the joint book-running managers for the offering. Janney Montgomery Scott LLC and D.A. Davidson & Co. are acting as the co-managers for the offering.

The offering of common stock is being made only by means of a prospectus, a copy of which may be obtained through:

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