CTO Realty Growth (CTO) to Offer 2.5M Shares of Common Stock

CTO Realty Growth, Inc. (NYSE: CTO) announced that it has commenced an underwritten public offering of 2,500,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock.

The Company intends to use the net proceeds from this offering to fund a portion of the $96 million purchase price of its recently announced lifestyle, mixed-use acquisition opportunity it currently has under contract. If the pending acquisition is not completed for any reason, the Company intends to use the net proceeds to fund other potential acquisition opportunities and for general corporate and working capital purposes, including the repayment of debt. Wells Fargo Securities and Raymond James are acting as joint book-running managers for the offering.

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