ACRES Commercial Realty Announces $52.75M Series C Preferred Stock Offering

What Happened
ACRES Commercial Realty Corp. announced on Form 8‑K (Item 1.01) that it entered into a Securities Purchase Agreement on August 10, 2026 and completed a registered direct offering that closed on August 12, 2026. The Company issued and sold 2,220,000 shares of its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock for $23.75 per share, generating aggregate gross proceeds of approximately $52,750,000 before placement agent fees and offering expenses. The offering was made under the Company’s Form S‑3 registration statement (File No. 333-278433) and a prospectus supplement dated August 10, 2026. The Company engaged Seaport Global Securities LLC as placement agent.

Key Details

• 2,220,000 shares of Series C preferred stock sold at $23.75 per share.
• Gross proceeds to ACRES: approx. $52,750,000 (before fees and expenses).
• Offering documents executed August 10, 2026; offering closed and settled August 12, 2026.
• Placement agent: Seaport Global Securities LLC; legal opinion on validity filed as Exhibit 5.1.

Why It Matters
This transaction provides ACRES with immediate capital of roughly $52.8M to support its operations, investments, or balance sheet needs. Investors should note the issuance creates a new class of cumulative preferred shares that carry an 8.625% fixed-to-floating dividend obligation and are redeemable, which affects the company’s capital structure and future cash dividend requirements. The offering was registered (Form S‑3), completed with institutional investors, and includes standard contractual representations and indemnities.