サンライズリアルティトラストの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 14, 2024

SUNRISE REALTY TRUST, INC.

(Exact name of Registrant as Specified in Its Charter)


Maryland	001-41971	93-3168928
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

525 Okeechobee Blvd., Suite 1650

West Palm Beach, FL, 33401

(Address of principal executive offices, including zip code)

561-510-2390

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

SUNS

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 14, 2024, Sunrise Realty Trust, Inc. issued a press release announcing its financial and operational results for the quarter ended June 30, 2024. A copy of the press release is furnished as Exhibit 99.1 hereto.

The information contained in Item 2.02 of this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits


Exhibit No.						Description
99.1						Press Release issued by Sunrise Realty Trust, Inc. on August 14, 2024.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	SUNRISE REALTY TRUST, INC.

	By:	/s/ Brandon Hetzel
		Brandon Hetzel
		Chief Financial Officer and Treasurer
Date: August 14, 2024

EX-99.1 2 sunsearningsreleaseq22024e.htm EX-99.1 Document

Sunrise Realty Trust, Inc. Provides Quarterly Business Update and Declares Dividends for Third and Fourth Quarters of 2024

Board of Directors Declares a Partial Q3 2024 Dividend of $0.21 per Common Share

and a Normal Q4 2024 Dividend of $0.42 per Common Share

WEST PALM BEACH, FL, August 14, 2024 – Sunrise Realty Trust, Inc. (NASDAQ:SUNS) (“SUNS” or the “Company”) today provided a quarterly business update and announced its dividends for the third and fourth quarters of 2024.

On July 9, 2024, the Company finalized its spin-off, establishing itself as a pure-play commercial real estate lender focused on the Southern United States. The SUNS portfolio is composed entirely of new vintage assets, with the first loan closed in 2024. This positions the Company uniquely in the public markets, offering a portfolio with no legacy assets and a strategic focus on one of the highest growth areas in the United States.

“We are pleased with the progress we have made since our successful spin-off, with our current portfolio totaling $119.6 million of commitments, of which we have funded $96.2 million as of August 5, 2024. Looking ahead, we are excited to continue deploying capital strategically, leveraging our strong pipeline of opportunities across high-growth regions in the Southern United States. The dividends we are declaring today reflect our confidence in our ongoing business strategy and our commitment to delivering value to our shareholders,” said Brian Sedrish, the Company’s Chief Executive Officer.

Common Stock Dividend

The Board of Directors has declared a partial quarter cash dividend of $0.21 per common share for the third quarter of 2024 as SUNS was not public for the full quarter. The dividend will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.

Looking ahead, the Board of Directors has declared a regular cash dividend of $0.42 per common share for the fourth quarter of 2024. This decision reflects the additional deals we have closed and our increased visibility into the ramping of the SUNS portfolio. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024.

Additional Information

SUNS issued a presentation, titled “Second Quarter 2024 Investor Presentation,” which can be viewed at www.sunriserealtytrust.com under the Investor Relations section. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, with the Securities and Exchange Commission on August 14, 2024.

SUNS routinely posts important information for investors on its website, www.sunriserealtytrust.com. The Company intends to use this webpage as a means of disclosing material information, for complying with our disclosure obligations under Regulation FD and to post and update investor presentations and similar materials on a regular basis. SUNS encourages investors, analysts, the media and others interested in SUNS to monitor the Investors section of its website, in addition to following its press releases, SEC filings, public conference calls, presentations, webcasts and other information posted from time to time on the website. To sign-up for email-notifications, please visit the “Email Alerts” section of the website under the “IR Resources” section.

Conference Call & Discussion of Financial Results

SUNS will host a conference call at 10:00 am (Eastern Time) on Wednesday, August 14, 2024, to provide an update on the business. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of SUNS’s website found here: SUNS -- Investor Relations. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. The complete webcast will be archived for 90 days on the Investor Relations section of SUNS’ website.

About Sunrise Realty Trust, Inc.

Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions for sponsors in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern U.S. cities that exhibit strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com.

Investor Relations Contact:

Robyn Tannenbaum

(561) 510-2293

ir@sunriserealtytrust.com

Media Contact:

Profile Advisors

Rich Myers & Rachel Goun

347-774-1125

rmyers@profileadvisors.com