Core Viewpoint - Resurgent Realty Trust (RRT) believes that Generation Income Properties, Inc. (GIPR) is currently underperforming and proposes to acquire a majority stake to implement changes in management and strategic direction [1]. Group 1: Proposed Acquisition Details - RRT proposes to acquire 51% of GIPR's common stock at a price of $3.00 per share, representing a 42% premium [2][3]. - The acquisition aims to maintain GIPR's status as a real estate investment trust (REIT) [3]. - Following the acquisition, GIPR's Board of Directors will expand from five to eleven members, with new directors selected by the Investors [3]. Group 2: Due Diligence and Exclusivity - The Investors will conduct due diligence, including access to GIPR's legal and accounting records, property inspections, and meetings with management [3]. - GIPR agrees not to engage in discussions with other parties regarding similar transactions for a specified period [3][4]. Group 3: Conditions and Confidentiality - The transaction is subject to customary conditions, including necessary approvals from equity holders and regulatory bodies [4]. - The terms of the Letter of Intent (LOI) and the term sheet are confidential, with disclosure only permitted under specific legal circumstances [4].
Resurgent Realty Trust Makes Non-Binding Offer to Acquire Controlling Interest in Generation Income Properties, Inc. ("GIPR")