As mentioned yesterday ACRES Commercial Realty (ACR) sold an additional 2 million shares (plus 300,000 available for overallotment) of the 7.875% preferred shares (ACR-D).
The shares were priced at $25. The term sheet is here.
The company sold this new issue originally in May when they sold a total of 2.4 million shares. Shares closed yesterday at $25.22, which was off a percent from the previous close.