ACRES Commercial Realty Corp. Announces Pricing of Public Offering of 7.875% Series D Cumulative Redeemable Preferred Stock
ACRES Commercial Realty Corp. (ACR)
Company Research
Source: PR Newswire
WESTBURY, N.Y., May 14, 2021 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) (the "Company") announced today the pricing of a public offering of 2,400,000 shares of its newly designated 7.875% Series D Cumulative Redeemable Preferred Stock (the "Preferred Stock") at a public offering price of $25.00 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 360,000 shares of the Preferred Stock at the public offering price, less underwriting discounts and commissions. The Preferred Stock will have a $25.00 per share liquidation preference. The Company will receive gross proceeds of $60.0 million from the sale of the Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on May 21, 2021, subject to customary closing conditions.The Company intends to use the net proceeds from this offering to make loan originations consistent with its investment policies and f
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ACR
News
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- ACRES Commercial Realty: The Discount To Book Value Is Too Much [Seeking Alpha]Seeking Alpha
- These Were The Best Performing REITs Last Month [Yahoo! Finance]Yahoo! Finance
- Institutional investors own a significant stake of 50% in ACRES Commercial Realty Corp. (NYSE:ACR) [Yahoo! Finance]Yahoo! Finance
ACR
Earnings
- 2/28/24 - Miss
ACR
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- ACR's page on the SEC website