ACRES Commercial Realty Corp. Announces Pricing of $150 Million Offering of 5.75% Senior Unsecured Notes due 2026

WESTBURY, NY, August 9, 2021 / PRNewswire / – ACRES Commercial Realty Corp. (NYSE: ACR) (the “Company”) today announced the pricing of its acquired public offering totaling 150 million). The offer is expected to close at or around August 16, 2021, subject to customary closing conditions. The company intends to use the proceeds of this offer to redeem all $ 50 million Total nominal amount of his outstanding 12.00% Senior Unsecured Notes due 2027, which is expected to result in a payment of approx. will lead $ 550.3 million, including all payments of principal, interest and fees. The amount and timing at which such redemptions may be affected are at the Company’s sole discretion. The remaining net proceeds from this offering will be used to provide loans in accordance with the Company’s investment policy and for general corporate purposes.

Raymond James & Associates, Inc. is acting as sole book running manager for the offering. A Shelf Registration Statement on Form S-3, including a prospectus, has been filed with the US Securities and Exchange Commission (“SEC”) and has been declared effective. The offering will only be made by means of a preliminary supplement and related prospectus which the Company will file with the SEC today.

Copies of the preliminary and accompanying prospectus and the final prospectus, if available, can be obtained from Raymond James & Associates, Inc., Attn: Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by calling (800) 248-8863, or by visiting the SEC’s website at www.sec.gov on the company’s name.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will any sale of these securities be made in any state or jurisdiction in which such offer, solicitation or sale prior to registration would or would be unlawful or unlawful Qualification under the securities laws of such state or jurisdiction.

About ACRES Commercial Realty Corp.

ACRES Commercial Realty Corp. is a real estate investment trust primarily focused on the issuing, holding and management of mortgage loans for commercial real estate (“CRE”) and other real estate-related debt investments. The company is externally owned by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender that specializes exclusively in nationally lending to medium-sized commercial real estate with a focus on apartment buildings, student dormitories, hospitality, industrial and office properties in top retail locations focused, manages US markets. For more information, please contact Investor Relations at [email protected].

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be made through our use of forward-looking terminology such as “may”, “trend”, “will”, “continue”, “expect”, “intend”, “anticipate”, “estimate”, “” believe “,” “Looking ahead,” or similar words or expressions. These “forward-looking” statements contain statements that address, among other things, the proposed offering of the Notes, the expected use of the net proceeds from the offering and the Company’s expectations regarding market conditions for an offering of the Notes Because such statements involve risks, uncertainties and contingencies, actual results could differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied in such forward-looking statements. Investors should understand the investment objectives, risks and future Weigh the company’s costs carefully before inve to stare. The Supplement and the accompanying prospectus contain this and other information about the Company and should be read carefully before investing.

Factors that could affect future results are discussed in filings the company filings with the SEC from time to time. The company undertakes no obligation to update or revise any forward-looking statements to reflect new or changing information or events after the date of this publication or the occurrence of unforeseen events, except as required by law.

SOURCE ACRES Commercial Realty Corp.

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