Sunrise Realty Trust board authorizes stock buyback program of up to $20 million
SUNS•Sunrise Realty Trust’s board authorized a common stock repurchase program of up to $20 million through Dec. 31, 2027, contingent on its proposed merger with Southern Realty Trust closing. Management plans to repurchase at least $10 million as soon as practicable after closing.
1. Buyback depends on merger
The program becomes effective only if the proposed merger with Southern Realty Trust closes. Management plans to repurchase at least $10 million as soon as practicable after closing; the remaining capacity will depend on pricing parameters, market conditions, liquidity, regulatory requirements and other factors.
