Sunrise Realty Trust, Inc. (SUNS): M&A transaction — Sunrise Realty Trust completes spin-off from AFC Gamma; begins trading on Nasdaq under ticker SUNS

Sunrise Realty Trust, Inc.

AFC Gamma completed spin-off of SUNS on July 9, 2024; record date July 8, 2024.
SUNS stockholders received one share of SUNS common stock for every three AFC Gamma shares.
SUNS common stock began trading on Nasdaq Capital Market under symbol 'SUNS' on July 9, 2024.
SUNS entered into Separation and Distribution, Tax Matters, Management, and Administrative Services Agreements with AFC Gamma and affiliates.
SUNS adopted the 2024 Stock Incentive Plan as part of the separation.

item 1.01 item 2.01 item 5.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Sunrise Realty Trust, Inc. underwent a change of control involving AFC Gamma, Inc. (closed 2024-07-09).

Action: change of control
Counterparty: AFC Gamma, Inc.
Closing: 2024-07-09

Exact text from the filing

On July 9, 2024, AFC Gamma completed the Spin-Off of the Company to the stockholders of AFC Gamma.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Sunrise Realty Trust, Inc. completed a disposition involving AFC Gamma, Inc. (closed 2024-07-09).

Action: disposition
Counterparty: AFC Gamma, Inc.
Closing: 2024-07-09

Exact text from the filing

Pursuant to the Separation and Distribution Agreement, AFC Gamma completed the Spin-Off on July 9, 2024, through the Distribution to all holders of outstanding shares of AFC Gamma common stock as of the close of business on the Record Date.

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Sunrise Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-031514

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