---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-331466"
form_type: "8-K"
ticker: "ACR"
cik: "0001332551"
company_name: "ACRES Commercial Realty Corp."
filed_at: "2026-08-04T10:42:13+00:00"
generated_at: "2026-08-04T10:45:08.079094+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ACR expects to close merger with ACC on Aug 6, 2026; issues $200M 8.625% notes due 2031

## Summary
- Merger consideration: each ACC share converts to 2.61882 ACR shares; ~7.48M ACR shares to be issued.
- ACR will assume ACC's $250M credit facility (~$185M outstanding) and become internally managed.
- Private placement of $200M 8.625% Senior Secured Notes due 2031; proceeds to repay $150M 5.75% notes due Aug 2026.
- Pro forma combined net loss allocable to common shares of $36.9M for H1 2026 and $37.3M for FY 2025.
- Notes expected to carry investment grade rating; covenants include min liquidity $20M, net debt/equity ≤5.0x.

## SEC filing metadata
- accession: 0001193125-26-331466
- form_type: 8-K
- ticker: ACR
- cik: 0001332551
- company_name: ACRES Commercial Realty Corp.
- filed_at: 2026-08-04T10:42:13+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1332551/000119312526331466/0001193125-26-331466-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1332551/000119312526331466/acr-20260804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-331466
- JSON: https://secwatch.observer/filing/0001193125-26-331466.json
- Plain text: https://secwatch.observer/filing/0001193125-26-331466.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.