ACRES Commercial Realty Corp. entered into two new equity distribution agreements on September 3, 2026, to facilitate the sale of its common and preferred stock. The agreements replace prior arrangements and allow the company to sell securities through designated sales agents.
Under the Common Distribution Agreement, ACRES Commercial Realty Corp. may offer and sell up to $50 million of its common stock, par value $0.001 per share, through Raymond James & Associates, Inc. The shares may be sold through at-the-market offerings or other permitted methods, including direct sales on the New York Stock Exchange or negotiated block transactions. The company will pay the sales agent a commission not to exceed 2.0% of the gross sales price.
Separately, the company entered into a Preferred Distribution Agreement with Seaport Global Securities LLC. This agreement allows for the sale of up to 2,980,000 shares of 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock and up to 2,192,143 shares of 7.875% Series D Cumulative Redeemable Preferred Stock. Similar to the common stock agreement, the preferred shares may be sold through at-the-market offerings or other methods, and the company will pay Seaport Global a commission not to exceed 2.0%.
The preferred stock agreement replaces a prior agreement with Jones Trading Institutional Services LLC, which was terminated effective September 1, 2026. Prior to termination, the company had sold 7,857 shares of Series D Preferred Stock under the Jones Trading agreement.
All sales under the new agreements are to be conducted pursuant to the company’s registration statement on Form S-3 (No. 333-278433) and related prospectuses.
