UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Pursuant to the business combination agreement referenced in Item 7.01 below, Adam Sragovicz, the Chief Financial Officer of Presidio Property Trust, Inc. (the “Company”), is expected to resign from all positions with the Company upon the closing of the business combination transaction and join the combined company as its Chief Financial Officer.
| Item 7.01 | Item 7.01 Regulation FD Disclosure. |
On November 8, 2022, the Company announced that Murphy Canyon Acquisition Corp. (“Murphy”), a blank-check special purpose acquisition company sponsored by the Company through a wholly-owned subsidiary, entered into a definitive business combination agreement (the “Business Combination Agreement”) with Conduit Pharmaceuticals Limited (“Conduit”), a pharmaceutical company led by highly experienced pharma executives established to fund the development of successful deprioritized clinical assets licensed from large pharmaceutical companies through its exclusive relationships.
The business combination transaction is expected to provide Conduit with access to the public equity market, which the parties believe will accelerate development of Conduit’s autoimmune disease and idiopathic male infertility pipeline. The combined company’s common stock is anticipated to be listed on NASDAQ under ticker symbol “CDT”. Upon the business combination transaction closing, which is expected to occur in the first quarter of 2023, the combined company is expected to be named Conduit Pharmaceuticals Inc. The closing of the business combination transaction is subject to numerous terms and conditions.
The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth in such filing.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| 99.1 | Press Release Dated November 8, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| PRESIDIO PROPERTY TRUST, INC. | ||
| Date: November 8, 2022 | By: | /s/ Adam Sragovicz |
| Adam Sragovicz | ||
| Chief Financial Officer | ||