Alpine Income Property Trust, Inc.

Alpine Income Property Trust, Inc. (CTO) priced its initial public offering on Nov 25, 2019 at $19.00 per share, raising $142.5M, and listed on NYSE American. At the IPO price its market capitalization was about $150.2M. Raymond James was lead-left underwriter, joined by Baird, B. Riley and BMO Capital Markets and others. Vinson & Elkins and Pillsbury Winthrop Shaw Pittman advised the company and Hunton Andrews Kurth advised the underwriters.

Alpine Income Property Trust, Inc. is a real estate investment trust externally managed by a Manager. Its initial portfolio, acquired from CTO, consists of 20 single-tenant, primarily net leased retail and office properties occupied by 16 tenants across 15 markets in ten states.

Status

IPO

Ticker

CTO

Exchange

NYSE American

Priced

Nov 25, 2019

IPO price

$19.00

Raised

$142.5M

Market cap at IPO price

$150.2M

First filed

Oct 23, 2019

Underwriters

Raymond James, Baird, B. Riley, BMO Capital Markets and Janney Montgomery Scott D.A. Davidson

Company counsel

Vinson & Elkins and Pillsbury Winthrop Shaw Pittman

Underwriters' counsel

Hunton Andrews Kurth

Sector

Real estate & finance

Country / state

FL

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.