ACR internalizes manager via merger; pro forma H1 loss $36.9M

ACRES Commercial Realty Corp.

Merger closed Aug 6, 2026; ACC shares converted at 2.61882 ACR shares each.
ACR issued ~7.48M shares; preliminary purchase price $68.9M; goodwill $169.5M.
Pro forma H1 2026 net loss allocable to common shareholders $36.9M ($2.04/share).
Pro forma FY2025 net loss allocable to common shareholders $36.4M ($2.60/share).
Management agreement terminated; ACR no longer externally managed; final purchase price allocation pending.

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