CTO Realty Growth enters underwriting agreement for $20/shr Series A preferred offering of 1.72M shares

CTO Realty Growth, Inc.

Underwriting agreement with Raymond James for 1,500,000 shares (plus 218,417 over-allotment exercised) of 6.375% Series A Cumulative Redeemable Preferred Stock at $20.00/share.
Total offering of 1,718,417 shares expected to close April 11, 2024; proceeds not specified.
Liquidation preference $25.00 per share, offering price $20.00 per share; shares rank equally with existing 2,978,808 outstanding Series A shares.
Underwriters granted 30-day option for up to 225,000 additional shares; exercised 218,417.

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