---
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"
generated_at: "2026-11-05T21:49:10.351320+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Sunrise Realty Trust completes Southern Realty Trust merger, creating $285M book value lender

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-071144
- JSON: https://secwatch.observer/filing/0001628280-26-071144.json
- Plain text: https://secwatch.observer/filing/0001628280-26-071144.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.