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Presidential Realty Corp. said Nov. 8 that the company terminated its liquidation plan in favor of a strategic transaction with Signature Community Investment Group LLC.
Pdl Partnership, an entity that owns 51% of Presidential Realty's outstanding class A common stock, sold 177,013 shares, or 40% of the outstanding total, to BBJ Family Irrevocable Trust, created by Signature founder Nickolas Jekogian III, at $1.00 per share.
Presidential Realty sold 250,000 shares of newly issued class B common stock, or 6.8% of outstanding class A and B...