ACRES Commercial Realty Corp. Reauthorizes an Additional $10 Million Share Repurchase Program

Rhea-AI Summary

ACRES Commercial Realty (NYSE:ACR) has announced a significant expansion of its share repurchase program, with the board approving an additional $10 million for repurchasing both common and preferred stock.

The company plans to execute these repurchases through various channels, including open market purchases, privately-negotiated transactions, and block purchases, all in compliance with federal securities laws, particularly Rules 10b-18 and 10b5-1 of the Securities Exchange Act of 1934.

The timing and volume of share repurchases will be determined by management based on market conditions and other factors. The company has explicitly stated that it cannot predict when or if any shares will be repurchased under this program.

Positive

• Board authorizes additional $10M for share repurchase program
• Flexibility in repurchase methods including open market, private negotiations, and block purchases
• Program includes both common and preferred stock repurchases

Negative

• No commitment to specific timing or amount of repurchases
• Execution of repurchases depends on market conditions and management discretion

UNIONDALE, N.Y., April 30, 2025 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE:ACR) (the "Company") announced today that its board of directors (the "Board") authorized and approved the continued use of its existing share repurchase program to repurchase an additional $10 million of the outstanding shares of both its common and preferred stock. Under the share repurchase program, the Company intends to repurchase shares through open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 and 10b5-1 of the Securities Exchange Act of 1934 (the "Exchange Act").

The Company cannot predict when or if it will repurchase any shares of common and preferred stock and the timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors.

About ACRES Commercial Realty Corp.

ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and may hold equity investments in commercial real estate properties through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market CRE lending with a focus on multifamily, student housing, hospitality, industrial and office property in top U.S. markets. For more information, please visit the Company's website at www.acresreit.com or contact investor relations at IR@acresreit.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "trend," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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SOURCE ACRES Commercial Realty Corp.

FAQ

How much is ACRES Commercial Realty (ACR) authorized to repurchase in their 2025 stock buyback program?

ACRES Commercial Realty (ACR) is authorized to repurchase an additional $10 million of its outstanding common and preferred stock shares through their existing share repurchase program, as announced on April 30, 2025.

What methods will ACR use to repurchase shares in their 2025 buyback program?

ACR will repurchase shares through open market purchases, privately-negotiated transactions, block purchases, or other means that comply with federal securities laws, including Rules 10b-18 and 10b5-1 of the Securities Exchange Act.

Is there a set timeline for ACRES Commercial Realty's 2025 share repurchase program?

No specific timeline is set for the share repurchase program. The timing and amount of shares repurchased will be determined by ACR's management based on market conditions and other factors.

Which types of shares can ACR repurchase under their 2025 buyback authorization?

Under the repurchase authorization, ACR can buy back both its outstanding common stock shares and preferred stock shares.

Who approved ACRES Commercial Realty's $10 million share repurchase program in 2025?

The additional $10 million share repurchase program was authorized and approved by ACRES Commercial Realty's board of directors.