Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, September 13, 12:51 PM
| This Slide: #114 of 668 |
Slide #114. CTO Realty Growth — Preferred Stock Offering
| Company: | CTO Realty Growth (NYSE:CTO) |
| Date announced: | 6/28/2021 |
| Shares Offered: | 3,000,000 |
| Date of Pricing: | 6/28/2021 |
| Price Per Share: | $25.00 |
| Preferred Stock Offering Details: | CTO Realty Growth (NYSE: CTO) ("CTO" or the "Company") today announced the launch of a public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") with a $25.00 per share liquidation preference. CTO intends to use the net proceeds from the offering for general corporate and working capital purposes, which may include property acquisitions and repayment of debt, including amounts outstanding under its credit agreement. -updated 6/28- CTO Realty Growth (NYSE: CTO) ("CTO" or the "Company") today announced the pricing of a public offering of 3,000,000 shares of its 6.375% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.00 per share. The Series A Preferred Stock will have a $25.00 per share liquidation preference. CTO will receive gross proceeds of $75,000,000 from the sale of the Series A Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on July 6, 2021, subject to customary closing conditions. |
CTO Realty Growth, Inc. is a real estate investment trust that owns and operates a portfolio of retail-based properties located primarily in higher growth markets in the U.S.. Co.'s segments include management services, commercial loans and investments, and income properties. The management services segment is a fee-based management business that is engaged in managing Alpine Income Property Trust, Inc. (PINE). The commercial loans and investments segment includes a portfolio of three commercial loan investments and one preferred equity investment, which is classified as a commercial loan investment. Its income property operations consist of income-producing properties.
Preferred: CTO.PRA
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