Sunrise Realty Trust, Inc. announced on January 28, 2025, the pricing of its upsized underwritten public offering of 5,750,000 shares of common stock at $12.00 per share. The pricing occurred on January 27, 2025.
The company also granted the underwriters a 30-day option to purchase up to an additional 862,500 shares of common stock. This offering is a key step in strengthening the company's capital base.
Sunrise Realty intends to use the net proceeds from this offering to fund unfunded commitments to existing borrowers, originate and participate in new commercial loans, and for general corporate purposes, including debt repayment.
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