ACRES Commercial Realty prices 2.22M preferred shares at $23.75, raising $50.2M net proceeds

Filed August 11, 2026 · ~2 min read

Key Changes

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  ACRES is offering 2,220,000 shares of 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock at $23.75 per share ($25.00 liquidation preference), raising $50.2 million in net proceeds after underwriting discount and expenses.

  The Offering verify on EDGAR →
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  Net proceeds will fund loan originations consistent with investment policies and general corporate purposes, including potential debt repayment, capital expenditures, and working capital. Pending deployment, proceeds will be held in interest-bearing accounts yielding lower returns than target loan originations.

  Use of Proceeds verify on EDGAR →
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  The Series C Preferred Stock transitioned to a floating rate on July 30, 2024, now paying Three-Month Term SOFR plus 5.927% (floor of 8.625%), with quarterly distributions. The company may redeem at any time at $25.00 per share plus accrued distributions; no maturity date.

  The Offering verify on EDGAR →