Sunrise Realty Trust, Inc. (NASDAQ:SUNS), a real estate investment trust (REIT), has announced the commencement of its common stock trading on the Nasdaq Capital Market. The trading began today on a "when-issued" basis under the ticker symbol "SUNSV". Regular way trading is expected to start tomorrow, under the ticker "SUNS".
The company, a spin-off from AFC Gamma, Inc., has not previously had a public market for its common stock. Today's transactions will settle on July 11, 2024, following the distribution date. The exact trading prices for SUNS and AFC Gamma's common stock are currently unknown and cannot be predicted by the companies.
This development marks a significant milestone for Sunrise Realty Trust as it establishes itself as an independent entity in the marketplace. The initiation of trading on the Nasdaq is a crucial step for the company in providing liquidity and a market for its shares.
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