Sunrise Realty Trust executive chairman Leonard Tannenbaum buys $12m in stock

Following this acquisition, Tannenbaum now directly owns 2,434,213 shares of Sunrise Realty Trust. In addition to his direct holdings, Tannenbaum has indirect ownership in several other shares through various trusts and family arrangements. These include 420,181 shares held by the Tannenbaum Family Foundation, 15,000 shares held by the Sunny 5 Irrevocable Trust, and other holdings through family trusts and by his spouse.This move underscores Tannenbaum’s continued confidence in the real estate investment trust, which operates out of West Palm Beach, Florida. With a market capitalization of $82.2 million and analyst price targets ranging from $16 to $17.50, InvestingPro subscribers can access additional insights about the company’s valuation and growth prospects. With a market capitalization of $82.2 million and analyst price targets ranging from $16 to $17.50, InvestingPro subscribers can access additional insights about the company’s valuation and growth prospects.

Following this acquisition, Tannenbaum now directly owns 2,434,213 shares of Sunrise Realty Trust. In addition to his direct holdings, Tannenbaum has indirect ownership in several other shares through various trusts and family arrangements. These include 420,181 shares held by the Tannenbaum Family Foundation, 15,000 shares held by the Sunny 5 Irrevocable Trust, and other holdings through family trusts and by his spouse.

This move underscores Tannenbaum’s continued confidence in the real estate investment trust, which operates out of West Palm Beach, Florida.

In other recent news, Sunrise Realty Trust, Inc. has been making significant financial strides. The commercial real estate lender priced an upsized public offering of 5,750,000 shares at $12.00 per share, aiming to raise roughly $69 million. The company also offered underwriters a 30-day option to purchase an additional 862,500 shares. The proceeds from this offering are intended for funding loans, originating new commercial loans, and general corporate purposes, including debt repayment.

In addition to the public offering, Sunrise Realty Trust has secured a $75 million unsecured revolving credit facility through an agreement with SRT Finance LLC. This facility, which carries an 8% annual interest rate, provides the company with flexible capital for its operations. From January 1, 2026, the company will be obligated to pay an annual fee of 1% of the aggregate commitments to the lenders.

These recent developments are part of Sunrise Realty Trust’s ongoing efforts to manage its capital structure and support its growth initiatives. The joint book-running managers for the offering include Raymond (NSE:RYMD) James & Associates, Inc., Keefe, Bruyette & Woods, Inc., and Oppenheimer & Co. Inc. Analyst price targets for the company range from $16.00 to $17.50 per share.

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