ACRES Commercial Realty Enters ATM Programs for Common & Preferred Stock

What Happened

• On September 3, 2026, ACRES Commercial Realty Corp. filed an 8‑K announcing two new at‑the‑market (ATM) equity distribution agreements. The Company may sell up to $50.0 million of common stock through Raymond James & Associates, Inc., and may sell up to 2,980,000 shares of its 8.625% Series C preferred and up to 2,192,143 shares of its 7.875% Series D preferred through Seaport Global Securities LLC. Each sales agent will receive a commission not to exceed 2.0% of the gross sales price.

Key Details

• Common ATM: up to $50,000,000 of common stock; sales agent: Raymond James & Associates, Inc.; sales may occur on the NYSE or other markets.
• Preferred ATM: up to 2,980,000 shares of Series C (8.625% fixed‑to‑floating) and up to 2,192,143 shares of Series D (7.875%); sales agent: Seaport Global Securities LLC.
• Commission: up to 2.0% of gross proceeds for sales through each agent.
• Prior preferred agreement with Jones Trading was terminated effective Sept 1, 2026; under that prior agreement the Company sold 7,857 of the 2,200,000 available Series D shares before termination.
• Offerings will be made under the Company’s Form S‑3 registration (No. 333‑278433) and prospectus supplement dated Sept 3, 2026; legal opinions from Womble Bond Dickinson LLP are filed as exhibits.

Why It Matters

• These ATM programs give ACRES flexibility to raise capital quickly and incrementally without a fixed follow‑on offering, which can help fund acquisitions, pay down debt or support operations.
• Sales under the programs would dilute existing shareholders proportionally and incur up to 2% in selling commissions.
• Replacing the prior preferred sales agent and expanding available preferred share issuance signals the company is refreshing its capital‑raising capability; the prior agreement generated minimal Series D sales before termination.