Acres Commercial Realty launches USD 50 million at-the-market common stock offering program
ACR•At-the-market common stock program
Acres Commercial Realty set up an at-the-market equity distribution program for up to USD 50 million of common stock.
- Raymond James will act as sales agent.
- Selling commission is capped at 2% of gross proceeds.
Preferred stock distribution programs
A separate at-the-market program covers up to 2,980,000 shares of 8.625% Fixed-to-Floating Series C preferred stock.
The preferred program also covers up to 2,192,143 shares of 7.875% Series D preferred stock; Seaport Global Securities is sales agent.
The new preferred distribution agreement replaces the prior 2021 agreement with Jones Trading.
