Generation Income Properties Explores Acquisition Offer from Resurgent Realty Trust

Resurgent Realty Trust (RRT), an existing shareholder of Generation Income Properties, Inc. (GIPR), has made a non-binding offer to acquire a controlling interest in the company. This proposal, outlined in a letter to the Board on January 30, 2025, suggests RRT intends to purchase 51% of GIPR's outstanding shares. The offer contemplates significant management and board changes at GIPR, a company they believe is underperforming due to current leadership. The plan involves expanding GIPR's board from five to eleven members, all of whom would be selected by RRT. Furthermore, the current executive team would be replaced. RRT aims to retain GIPR's REIT status in the proposed transaction. The agreement will undergo further negotiations and due diligence before any binding commitments are made. During this negotiation period, GIPR is prohibited from engaging in discussions regarding major transactions with other parties. The transaction is contingent on various customary conditions and approvals, maintaining aspects like confidentiality and cost responsibilities under the laws of Maryland.