CTO Realty Growth exchanges $35.2M of 3.875% convertible notes for stock and cash

CTO Realty Growth, Inc.

Exchanged $35.2M principal for 1,089,555 shares of common stock and $29.0M cash (incl. $0.6M accrued interest).
After exchange, $15.8M notes remain; to be settled in cash at maturity on April 15, 2025, estimated ~$22M.
Shares outstanding increased to 32,936,967 as of April 3, 2025.
Notes originally had $51M aggregate principal; conversion ratio was 73.8112 shares per $1,000.

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