Alpine Income Property Trust launches preferred stock offering

Alpine Income Property Trust Inc. (NYSE: PINE) announced the launch of a public offering of Series A Cumulative Redeemable Preferred Stock with a $25.00 per share liquidation preference.

The real estate investment trust plans to use net proceeds for general corporate and working capital purposes, including property acquisitions, commercial loan and investment opportunities, and debt repayment under existing credit agreements.

The company intends to list the Series A Preferred Stock on the New York Stock Exchange under the ticker symbol "PINE-PA."

Raymond James, Stifel and Baird serve as joint book-running managers for the offering. The securities will be offered under Alpine Income Property Trust's existing shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.

Alpine Income Property Trust operates as a publicly traded real estate investment trust that invests in single tenant net leased commercial income properties leased to publicly traded and credit-rated tenants.

The offering will be conducted through a prospectus supplement and accompanying prospectus available from the joint book-running managers.

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