Sunrise Realty Trust, Inc. Announces Launch of Common Stock Offering

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WEST PALM BEACH, Fla., Jan.21, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc.("Sunrise Realty" or "the Company") (NASDAQ:SUNS), an institutional lender that originates and funds loans to commercial real estate projects in the Southern United States, today announced that it has launched an underwritten public offering (the "Offering") of 5,500,000 shares of its common stock.

Sunrise Realty intends to use the net proceeds from the Offering to fund loans related to unfunded commitments to its existing borrowers, to originate and participate in commercial loans to commercial real estate projects in the Southern United States that are consistent with its investment strategy, and for working capital and other general corporate purposes, including the repayment of debt.

Raymond James & Associates, Inc., Keefe, Bruyette & Woods, Inc., BTIG, LLC and Oppenheimer & Co.Inc.are acting as joint book-running managers for the Offering.B.Riley Securities, Inc.and A.G.P./Alliance Global Partners are acting as co-lead managers.

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Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United States

Topics: News Press Releases SUNS IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-21 @ 12:11:12 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 853 words

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News ID: 25332982

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