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AI brief of an SEC Form 8-K · Sunrise Realty Trust, Inc. (SUNS)

Sunrise Realty Trust completes merger with Southern Realty Trust

Neutral Impact 4 of 5 m&a Written later

Sunrise Realty Trust (SUNS) completed its merger with Southern Realty Trust on November 5, 2026. Southern Realty Trust stockholders received 1.45 SUNS shares and $0.05 in cash from SUNS Manager for each share they held, and SUNS issued 8,464,975 shares, bringing shares outstanding to 21,980,826. The company also amended its management agreement, cutting the incentive fee and hurdle rate and reducing the base management fee, which the filing says benefits all SUNS stockholders, while former Southern Realty Trust holders now own about 38.5% of the combined company.

Key points

  • Merger closed November 5, 2026; each Southern Realty Trust share converted into 1.45 SUNS shares plus $0.05 in cash from SUNS Manager
  • SUNS issued 8,464,975 shares, resulting in 21,980,826 shares outstanding; former Southern Realty Trust stockholders own about 38.5%
  • Incentive fee reduced from 20% to 17.5% and hurdle rate from 8.0% to 7.0%; base management fee cut by $250,000 per quarter for four quarters, or $1.0 million in total
  • Pro forma as of June 30, 2026, the combined company had about $534 million of total assets and about $285 million of book value

The filing

CompanySunrise Realty Trust, Inc. (SUNS)
Form8-K, current report
Filed with the SECNov 5, 2026, 4:47 PM ET
Accession number0001628280-26-071144

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.