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- Change of Control Conversion Cap (new) — Conversion upon change of control is capped at 3.4698 common shares per Series D share, which may be worth less than the $25 liquidation preference, limiting upside for preferred holders.
- Ownership Limit of 4.34% (new) — The charter prohibits any person from owning more than 4.34% of any class, which could deter large investors and restrict conversion rights.
ACRES Commercial Realty launches at-the-market offering of up to 2.98M Series C and 2.19M Series D preferred shares
Filed September 4, 2026 · ~1 min read
Key Changes
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Offering up to 2,980,000 Series C and 2,192,143 Series D preferred shares, each with $25.00 liquidation preference, via at-the-market sales.
The Offering verify on EDGAR → -
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Net proceeds to fund loan originations and general corporate purposes, including possible debt repayment, capital expenditures, and working capital.
Use of Proceeds verify on EDGAR → -
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Series D preferred pays cumulative 7.875% annual distribution ($1.96875 per share) and is redeemable at $25.00 plus accrued distributions.
Use of Proceeds verify on EDGAR →
3 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 4, 2026 · How we verify