{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-26-071144","form_type":"8-K","ticker":"SUNS","cik":"0002012706","company_name":"Sunrise Realty Trust, Inc.","filed_at":"2026-11-05T21:47:58+00:00","discovered_at":"2026-11-05T21:49:00.284380+00:00","generated_at":"2026-11-05T21:49:10.351320+00:00","sec_items":["1.01","2.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Sunrise Realty Trust completes Southern Realty Trust merger, creating $285M book value lender","bullets":["SRT shareholders received 1.45 SUNS shares plus $0.05 cash per share; SUNS issued 8,464,975 shares, bringing total shares outstanding to 21,980,826.","Former SRT holders own about 38.5% of combined company; pre-merger SUNS holders own about 61.5%; certain SRT holders (~32%) accepted 120-day lock-up.","Pro forma as of June 30, 2026: ~$285M book value after transaction costs, ~$534M total assets, and ~$604M loan commitments across 14 loans in Southern U.S. markets.","Amended management agreement cuts incentive fee to 17.5% from 20%, hurdle to 7.0% from 8.0% annually, and trims base fee by $250,000 per quarter for four quarters ($1.0M total).","Board expanded by one seat; Howard Sudnow, SRT-designated independent director, appointed. Stub-period dividend of $0.09 per share payable Nov. 5 to holders of record Nov. 2."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-071144","json":"https://secwatch.observer/filing/0001628280-26-071144.json","markdown":"https://secwatch.observer/filing/0001628280-26-071144.md","text":"https://secwatch.observer/filing/0001628280-26-071144.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2012706/000162828026071144/0001628280-26-071144-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2012706/000162828026071144/suns-20261105.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-11-05T21:49:10.351320+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}