From Yahoo Finance: 2025-05-06 10:46:00

Resurgent Realty Trust is urging the Board of Directors at Generation Income Properties, Inc. to engage in discussions regarding a non-binding term sheet submitted by RRT on January 30, 2025. The open letter, written by Jon Wheeler, expresses concern over GIPR’s financial distress and lack of communication. Wheeler suggests various solutions to address the company’s challenges.

The letter highlights Wheeler’s extensive experience in real estate and his genuine interest in helping GIPR navigate its current difficulties. He criticizes the lack of transparency and communication from GIPR’s CEO, urging the company to disclose a clear plan for May 15 and consider all available options, including a sale or merger. Wheeler emphasizes the importance of immediate action to avoid further financial decline and potential negative outcomes for shareholders.

Resurgent Realty Trust’s open letter to Generation Income Properties underscores the urgency of addressing the company’s financial challenges and lack of communication. Wheeler’s call for transparency, accountability, and strategic decision-making reflects a desire to salvage value and ensure the best interests of shareholders are prioritized. GIPR’s Board of Directors is urged to engage with RRT and explore viable solutions to secure the company’s future.

Read more: RRT urges Generation Income Properties board to engage in discussions