CTO Realty Growth announces offering of 2.5M shares of common stock

CTO Realty Growth announced that it has commenced an underwritten public offering of 2.5M shares of its common stock. The company intends to use the net proceeds from this offering to fund a portion of the $96M 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.