---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-338197"
form_type: "8-K"
ticker: "ACR"
cik: "0001332551"
company_name: "ACRES Commercial Realty Corp."
filed_at: "2026-08-06T20:29:45+00:00"
generated_at: "2026-08-06T20:32:29.683656+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# ACR completes merger with ACC, becomes internally managed; issues $200M 8.625% notes due 2031

## Summary
- Issued ~7.5M shares of ACR common stock to ACC stockholders; net increase of ~6.3M shares after eliminating ACC-held shares.
- Terminated external management agreement for no consideration; company now internally managed.
- Completed $200M private placement of 8.625% Senior Secured Notes due 2031; proceeds to repay $150M 5.75% notes due Aug 2026.
- Amended credit facility to $185M at 8.749% fixed rate, maturing July 2033; $55M additional commitments funded.
- Entered employment agreements with 7 executives (Fogel, Fentress, Reasoner, Jesberger, Brengel, Blackwell, Persaud) with 3-year terms.

## SEC filing metadata
- accession: 0001193125-26-338197
- form_type: 8-K
- ticker: ACR
- cik: 0001332551
- company_name: ACRES Commercial Realty Corp.
- filed_at: 2026-08-06T20:29:45+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 2.03, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1332551/000119312526338197/0001193125-26-338197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1332551/000119312526338197/acr-20260806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-338197
- JSON: https://secwatch.observer/filing/0001193125-26-338197.json
- Plain text: https://secwatch.observer/filing/0001193125-26-338197.txt

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