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GENERATION INCOME PROPERTIES, INC. (GIPRU)

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Company News

IPO Profile

About company

(Note: IPOScoop has No Call on this offering – a NASDAQ uplift from the OTCQB Venture Market – and a unit offering of an internally managed REIT (real estate investment trust). Each Unit consists of one share of their common stock, par value $0.01 per share, and one warrant to purchase one share of their common stock at an exercise price equal to 100% of the price of each Unit sold in this offering. The company expects the stock to trade under the symbol “GIPR” and the warrants to trade under the symbol “GIPRW” on the NASDAQ. This offering was initially filed in late December 2019. The deal’s terms were changed in an Aug. 18, 2021, filing to more units – 1.5 million, up from 1.25 million – at a lower price range of $10 to $12 – down from $12 to $14 – to raise $16.5 million.)We are an internally managed real estate investment company focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in major markets throughout the United States. With interest rates at historical lows, they believe their focus on owning properties leased to investment grade or creditworthy tenants provide attractive risk adjusted returns through current yields, long term appreciation and tenant renewals. As of Aug. 13, 2021, approximately 73% of their portfolio’s annualized base rent was received from tenants that have (or whose parent company has) an investment grade credit rating of “BBB-” or higher and 100% of their rent was paid on a timely basis.They believe that single-tenant commercial properties, as compared with shopping centers, malls, and other traditional multi-tenant properties, offer a distinct investment advantage since single-tenant properties generally require less management and operating capital and have less recurring tenant turnover than do multi-tenant properties. Given the stability and predictability of the cash flows, many net leased properties are held in family trusts, providing them an opportunity to acquire these properties for tax deferred units while giving the owners potential liquidity through the conversion of the units for freely tradable shares of stock.They intend to use substantially all of the net proceeds from this offering to operate their existing portfolio of commercial real estate properties and acquire additional freestanding, single-tenant commercial properties. Once they qualify for taxation as a REIT, they intend to make regular cash distributions to their stockholders out of their cash available for distribution, typically on a monthly basis.Note: Revenue and net loss attributable to shareholders are for the last 12 months that ended June 30, 2021.
Industry
Reit
CEO CFO
-
Employees Founded
3 2015

Contacts

Address: 401 East Jackson Street, Suite 3300 Tampa, Florida 33602

Telephone: 1-813-448-1234

Web page: http://www.gipreit.com/

IPO information

First Trade Date 9/3/2021
Status Priced
Exchange NASDAQ
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Shares & Volumes

Shares Initial (MM) 1.5
Shares Revised (MM) 1.5
Expected offer amount (MM) $16.5
Realized offer amount(MM) $15

Financial Data (last reporting year)

Market Cap (MM) $21.67
Revenues (MM) $3.67
Net Income (Loss) (MM) $-1.87

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The lead left underwriter: Maxim Group LLC

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Underwriters
Maxim Group LLC/ Joseph Gunnar & Co. LLC
CO-Managers
-

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