secwatch.observer — SEC 8-K summary
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Issuer:     ACRES Commercial Realty Corp. (ACR)
CIK:        0001332551
Form:       8-K
Filed at:   2021-08-11T23:59:59+00:00
Accession:  0001564590-21-043478
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ACR prices $150M of 5.75% senior notes due 2026; will redeem $50M of 12% notes
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- $150M aggregate principal of 5.75% Senior Unsecured Notes due 2026 priced.
- Offering expected to close August 16, 2021, subject to customary conditions.
- Proceeds to redeem $50M of outstanding 12% Senior Notes due 2027 (approx. $55.3M total payment).
- Remaining net proceeds for loan originations and general corporate purposes.
- Raymond James acting as sole book-runner for the offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1332551/000156459021043478/0001564590-21-043478-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1332551/000156459021043478/acr-8k_20210809.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-043478

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer