UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________
FORM 1-U
CURRENT REPORT
Pursuant Regulation A of the Securities Act of 1933
February 20, 2018
(Date of Report (Date of earliest event reported))
GENERATION INCOME PROPERTIES, INC.
(Exact name of registrant as specified in its charter)
Maryland | 47-4427295 |
(State or other jurisdiction of | (I.R.S. Employer |
401 East Jackson, Suite 3300
Tampa, FL 33602
(Full mailing address of principal executive offices)
Telephone: (813)-448-1234
(Issuer’s telephone number, including area code)
Common Shares
(Title of each class of securities issued pursuant to Regulation A)
Item 9. | Other Events |
Declaration of Dividend
On February 13, 2018, Generation Income Properties, Inc. (the “Company”) announced that its board of directors authorized a $0.10 per share cash dividend for shareholders of record of the Company’s common stock as of January 2, 2018. The Company expects to pay this dividend on or before March 31, 2018. David Sobelman, the President and founder of Generation Income Properties, and owner of approximately 58% of the Company’s common stock outstanding, has waived his dividend for this period.
Preliminary Financing JV Partnership
On February 13, 2018, Generation Income Properties, Inc. (“GIP”), issued a press release announcing that GIP, has entered into a preliminary financing arrangement with affiliates of Oak Street Real Estate Capital, LLC (“Oak Street”). Oak Street recently closed its fourth fund at $1.25 billion in September 2017 and has agreed to provide up to $15 million of preferred equity capital to a to-be-formed partnership, in joint venture with GIP (the “JV”). The JV intends to acquire high quality, investment grade net leased commercial real estate.
Safe Harbor Statement
This Current Report on Form 1-U contains forward-looking statements within the meaning of the federal securities laws. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in our Offering Circular, as such factors may be updated from time to time in our periodic filings and Offering Circular supplements filed with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Item 10. | Exhibits |
Number | Description of Exhibit |
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15.1 | |
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15.2 | |
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15.3 |
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SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| GENERATION INCOME PROPERTIES, INC. | ||
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Date: February 20, 2018 | By: | /s/ David Sobelman | |
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| Name: | David Sobelman |
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| Title: | Chief Executive Officer |
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| Chief Financial Officer |
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