Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
CTO Realty Growth, Inc. entered into Underwriting Agreement with Wells Fargo Securities, LLC valued at 3,450,000 shares of common stock at $18.145 per share, net proceeds approximately $62.4 million (effective 2022-11-30).
- Action
- entry
- Agreement
- underwriting
- Counterparty
- Wells Fargo Securities, LLC
- Value
- 3,450,000 shares of common stock at $18.145 per share, net proceeds approximately $62.4 million
- Effective
- 2022-11-30
Exact text from the filing
Item 1.01 Entry into a Material Definitive Agreement. On November 30, 2022, CTO Realty Growth, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, as representative of the underwriters named therein (the “Underwriters”), for the issuance and sale by the Company of 3,000,000 shares of its common stock, $0.01 par value per share (the “Common Stock”). The Underwriters agreed to purchase the Common Stock from the Company at a price of $18.145 per share. In addition, the Company granted the Underwriters a 30-day option to purchase up to an additional 450,000 shares of Common Stock on the same terms and conditions, which the Underwriters exercised in full on December 2, 2022.
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