Sunrise Realty Trust, Inc. Announces Launch of Common Stock Offering
Sunrise Realty Trust (NASDAQ: SUNS) has announced the launch of an underwritten public offering of 5,500,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 825,000 shares. The company plans to use the proceeds to fund existing borrower commitments, originate new commercial real estate loans in the Southern United States, and for general corporate purposes including debt repayment.
The offering will be managed by multiple firms, with Raymond James, Keefe, Bruyette & Woods, BTIG, and Oppenheimer serving as joint book-running managers. B. Riley Securities and A.G.P./Alliance Global Partners are acting as co-lead managers, while Seaport Global Securities is the co-manager. A registration statement has been filed with the SEC but is not yet effective.
Sunrise Realty Trust (NASDAQ: SUNS) ha annunciato il lancio di un'offerta pubblica sottoscritta di 5.500.000 azioni di azioni ordinarie, con un'ulteriore opzione di 30 giorni per gli underwriter di acquistare fino a 825.000 azioni. L'azienda prevede di utilizzare i proventi per finanziare impegni esistenti con i mutuatari, originare nuovi prestiti per immobili commerciali nel Sud degli Stati Uniti e per scopi aziendali generali, inclusa la restituzione di debito.
L'offerta sarà gestita da più aziende, con Raymond James, Keefe, Bruyette & Woods, BTIG e Oppenheimer che fungeranno da co-responsabili del libro. B. Riley Securities e A.G.P./Alliance Global Partners svolgono il ruolo di co-responsabili principali, mentre Seaport Global Securities è il co-manager. È stata presentata una dichiarazione di registrazione alla SEC, ma non è ancora efficace.
Sunrise Realty Trust (NASDAQ: SUNS) ha anunciado el lanzamiento de una oferta pública suscrita de 5,500,000 acciones de acciones ordinarias, con una opción adicional de 30 días para que los suscriptores compren hasta 825,000 acciones. La compañía planea utilizar los ingresos para financiar compromisos existentes con prestatarios, originar nuevos préstamos para bienes raíces comerciales en el sur de los Estados Unidos y para fines corporativos generales, incluida la amortización de deudas.
La oferta será gestionada por varias empresas, con Raymond James, Keefe, Bruyette & Woods, BTIG y Oppenheimer como co-gestores principales. B. Riley Securities y A.G.P./Alliance Global Partners actúan como co-gestores principales, mientras que Seaport Global Securities es el co-gestor. Se ha presentado una declaración de registro ante la SEC, pero aún no es efectiva.
선라이즈 리얼티 트러스트 (NASDAQ: SUNS)가 5,500,000주의 보통주에 대한 공모를 출시한다고 발표했습니다. 추가로 인수자들이 최대 825,000주를 구매할 수 있는 30일 옵션이 있습니다. 이 회사는 수익금을 기존 대출자 약속 이행, 미국 남부에서 새로운 상업용 부동산 대출을 발행하며, 부채 상환 등 일반 기업 용도로 사용할 계획입니다.
이 공모는 여러 회사에 의해 관리되며, 레이몬드 제임스, 키프 브루예트 & 우즈, BTIG 및 오펜하이머가 공동 북런닝 매니저로 활동합니다. B. 라이리 증권과 A.G.P./얼라이언스 글로벌 파트너스가 공동 책임 매니저 역할을 하며, 시포트 글로벌 증권이 공동 매니저로 있습니다. SEC에 등록 신청이 제출되었으나 아직 효력이 없습니다.
Sunrise Realty Trust (NASDAQ: SUNS) a annoncé le lancement d'une offre publique souscrite de 5 500 000 actions ordinaires, avec une option supplémentaire de 30 jours pour que les souscripteurs achètent jusqu'à 825 000 actions. La société prévoit d'utiliser les produits pour financer les engagements existants des emprunteurs, pour originer de nouveaux prêts immobiliers commerciaux dans le sud des États-Unis, et pour des fins corporatives générales, y compris le remboursement de dettes.
L'offre sera gérée par plusieurs entreprises, avec Raymond James, Keefe, Bruyette & Woods, BTIG et Oppenheimer servant de co-responsables de la gestion. B. Riley Securities et A.G.P./Alliance Global Partners agissent en tant que co-responsables principaux, tandis que Seaport Global Securities est le co-gestionnaire. Une déclaration d'enregistrement a été déposée auprès de la SEC mais n'est pas encore effective.
Sunrise Realty Trust (NASDAQ: SUNS) hat den Start eines unterzeichneten öffentlichen Angebots von 5.500.000 Aktien gewöhnlicher Aktien bekanntgegeben, mit einer zusätzlichen 30-tägigen Option für Zeichner, bis zu 825.000 Aktien zu kaufen. Das Unternehmen plant, die Einnahmen zur Finanzierung bestehender Verpflichtungen gegenüber Kreditnehmern, zur Origination neuer Gewerbeimmobilienkredite im Süden der Vereinigten Staaten und für allgemeine Unternehmenszwecke, einschließlich der Schuldenrückzahlung, zu verwenden.
Die Emission wird von mehreren Firmen geleitet, wobei Raymond James, Keefe, Bruyette & Woods, BTIG und Oppenheimer als gemeinsame Hauptbuchmanager fungieren. B. Riley Securities und A.G.P./Alliance Global Partners agieren als Co-Hauptmanager, während Seaport Global Securities der Co-Manager ist. Es wurde eine Registrierungsmitteilung bei der SEC eingereicht, die jedoch noch nicht wirksam ist.
- Potential capital raise to fund new loan originations and existing commitments
- Strong underwriting syndicate including major investment banks
- Potential dilution for existing shareholders through 5.5M share offering
- Additional 825,000 shares could further dilute shareholders if underwriter option exercised
Insights
This stock offering marks a pivotal capital raising initiative for SUNS, with 5.5 million shares being offered plus an additional 825,000 shares in the underwriters' option. Given SUNS's current market cap of
The syndicate structure is notably robust, featuring Raymond James and KBW as lead managers, suggesting strong institutional backing. The timing aligns with growing demand for commercial real estate financing in the Southern U.S. market, where property values have shown resilience compared to other regions.
The intended use of proceeds for funding existing loan commitments and new originations indicates a healthy pipeline of deals. This expansion of lending capacity could drive earnings growth, though existing shareholders should expect near-term dilution. The inclusion of debt repayment in the use of proceeds suggests potential balance sheet optimization.
The strategic focus on Southern U.S. transitional commercial real estate positions SUNS to capitalize on the region's demographic shifts and economic growth. The emphasis on "near-term value creation" in their lending strategy suggests a focus on properties requiring repositioning or renovation, which typically command higher yields.
The capital raise comes at a time when traditional banks are reducing CRE exposure, creating opportunities for specialized lenders like SUNS. The company's institutional approach to lending, combined with collateralization by top-tier real estate assets, provides a degree of risk mitigation that's important in the current market environment.
For simplified understanding: Think of SUNS as a specialized bank that's raising money to make more loans on commercial properties in growing Southern cities. They're focusing on properties that need improvements to increase their value, which can lead to higher returns but also carries more risk than lending to stabilized properties.
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 grant the underwriters of the Offering a 30-day option to purchase up to an additional 825,000 shares of 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. Seaport Global Securities LLC is acting as co-manager for the Offering.
A registration statement (the “Registration Statement”) relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the Offering may be obtained by using EDGAR on the SEC website at www.sec.gov or by contacting: Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or by e-mail to prospectus@raymondjames.com; Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, by telephone at (800) 966-1559, or by email at USCapitalMarkets@kbw.com; BTIG, LLC, 65 East 55th Street, New York, New York 10022, Attention: Syndicate Department, btigsyndicategroup@btig.com; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.
These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions to sponsors of commercial real estate located in the Southern United States. The Company focuses on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and Southern cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
Forward-Looking and Cautionary Statements
Some of the statements contained in this press release constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and the Company intends such statements to be covered by the safe harbor provisions contained therein. Such forward-looking statements are based on the current intent, belief, expectations and views of future events of the Company. The forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results or performance, and may contain the words “believe,” “anticipate,” “expect,” “estimate,” “intends,” “project,” “could,” “would,” “will,” or words or phrases of similar meaning. Specifically, this press release includes forward-looking statements regarding the conduct of the Offering and the size and terms of the Offering. The information and statements contained herein are subject to risks, uncertainties, assumptions and other important factors related to market conditions, that the size of the Offering could change or the Offering could be terminated, and the satisfaction of customary closing conditions related to the Offering and other factors set forth in the Registration Statement, many of which are outside the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking Statements. Accordingly, you are cautioned not to place undue reliance on such forward-looking statements. You should conduct your own analysis, using such assumptions as you deem appropriate, and should fully consider other available information, including the information described under “Risk Factors” in the Registration Statement, in making a decision to invest. The Company has based the forward-looking statements included in this press release on information available to it on the date of this presentation, and the Company assumes no obligation to update any such forward-looking statements, whether as a result of new information, future events or otherwise.
INVESTOR CONTACT:
Robyn Tannenbaum
561-510-2293
ir@sunriserealtytrust.com
MEDIA CONTACT:
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
rmyers@profileadvisors.com
FAQ
How many shares is Sunrise Realty Trust (SUNS) offering in its January 2025 public offering?
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