11:08 AM EST, 01/21/2025 (MT Newswires) -- Sunrise Realty Trust ( SUNS ) said Tuesday it commenced an underwritten public offering of 5.5 million common shares.

The institutional lender said it plans to give underwriters a 30-day option to purchase up to an additional 825,000 shares.

Proceeds will be used for lending, working capital and other general corporate purposes, including debt repayment, the company said.

Shares of Sunrise Realty ( SUNS ) were down 2.5% in recent trading.

Price: 13.79, Change: -0.35, Percent Change: -2.48