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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, December 5, 6:26 AM

Slide #30. CTO Realty Growth Preferred Stock Offering

Company: CTO Realty Growth (NYSE:CTO)
Date announced: 6/28/2021
Shares Offered: 3,000,000
Date of Pricing: 6/28/2021
Price Per Share: $25.00
Preferred Stock Offering Details: CTO Realty Growth (NYSE: CTO) ("CTO" or the "Company") today announced the launch of a public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") with a $25.00 per share liquidation preference. CTO intends to use the net proceeds from the offering for general corporate and working capital purposes, which may include property acquisitions and repayment of debt, including amounts outstanding under its credit agreement. -updated 6/28- CTO Realty Growth (NYSE: CTO) ("CTO" or the "Company") today announced the pricing of a public offering of 3,000,000 shares of its 6.375% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a public offering price of $25.00 per share. The Series A Preferred Stock will have a $25.00 per share liquidation preference. CTO will receive gross proceeds of $75,000,000 from the sale of the Series A Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on July 6, 2021, subject to customary closing conditions.

CTO Realty Growth is a real estate operating company. Co.'s business included the following: Management Services, which is a management business that is engaged in managing Alpine Income Property Trust, Inc. and the entity that holds the undeveloped land in Daytona Beach, FL (Land JV); Commercial Loan Investments, which include a portfolio of one commercial loan investment and two commercial properties; and Real Estate Operations, which include a portfolio of mineral interests and a portfolio of mitigation credits, a retained interest in the Land JV that is seeking to sell an undeveloped land, and an interest in a joint venture that is engaged in the operation of a mitigation bank.
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Name: 
CTO Realty Growth Inc (New)
Website: 
www.ctoreit.com
Sector: 
REITs
Number of ETFs Holding CTO: 
15 (see which ones)
Total Market Value Held by ETFs: 
$24,248,880.08
Total Market Capitalization: 
$327,000,000
% of Market Cap. Held by ETFs: 
7.42%
 

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