Presidio announces closing of merger, commencement of trading of Conduit

Presidio Property Trust (SQFT) announced the successful merger with and commencement of trading of Conduit Pharmaceuticals (CDT) now trading on Nasdaq under the ticker symbol CDT for common stock on the Global Market and ticker symbol CDTTW for warrants on the Capital Market. In connection with the completion of the merger, Presidio’s sponsored SPAC Murphy Canyon Acquisition Corp. changed its name to Conduit Pharmaceuticals Inc. As a result of this transaction, Presidio now owns a total of 4,015,250 shares of Conduit and warrants to purchase 709,000 shares of Conduit. “Presidio is proud to have been a part of this successful SPAC transaction, reflecting our confidence in the growth and future prospects of Conduit,” said Jack Heilbron, CEO of Presidio Property Trust. “We firmly believe in the strategy and leadership of Conduit, and we are excited about the possibilities that this de-SPAC brings to Presidio’s shareholders, which can now finally be recognized as an asset on Presidio’s balance sheet.”