SHARE OFFERINGS AND FEES |
12 Months Ended |
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Jun. 30, 2022 | |
SHARE OFFERINGS AND FEES [Abstract] | |
SHARE OFFERINGS AND FEES |
NOTE 11 – SHARE OFFERINGS AND FEES
During the year ended June 30, 2022, we issued 128,741 common shares with total gross proceeds of $1,187,630
under the DRIP. In March 2022, we issued 212 common shares at $10.25 per
share to the Class A unit holders of the Operating Partnership. The Class A units of the Operating Partnerships are convertible to our common share on 1:1
basis. In addition, we also issued 3,172 units of common shares at $8.67 per share pursuant to the FSP Satellite merger as discussed in Note 1.
During the year
ended June 30, 2021, we issued 21,720 shares with gross proceeds of $218,439. For the year ended June 30, 2021, we incurred selling commissions and fees of $18,060. In addition to the shares sold through our public offering, in October 2020, we issued 504,091.15
shares at $7.85 per share, which was the most recent NAV at the time of the issuance, to the Class A unit holders of the Operating
Partnership as discussed in Note 1.
During the year ended June 30, 2022, we issued 119,380 preferred shares with gross proceeds of $2,957,530 and incurred syndication costs of $847,167
in relation to preferred shares offering. For the year ended June 30, 2022, we issued 36.70 preferred shares with total gross
proceeds of $826 under the DRIP.
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