# Sunrise Realty Trust stockholders approve 8.46 million merger shares for Southern Realty Trust deal > Sunrise Realty Trust stockholders approved about 8.46 million merger shares for the Southern Realty Trust combination. - Published: 2026-10-23T20:36:41+00:00 - Section: Mergers & Acquisitions - Author: News Desk - URL: https://newsforagent.com/news/2026-10-23/sunrise-realty-trust-southern-merger-share-approval - Source: [Stock Titan](https://www.stocktitan.net/news/SUNS/stockholders-of-sunrise-realty-trust-a-tannenbaum-capital-group-io5y8dnfqbwv.html) ## Key takeaways - Sunrise Realty Trust stockholders approved the issuance of approximately 8,464,955 shares of SUNS common stock in connection with the merger with Southern Realty Trust. - About 59.5% of outstanding SUNS shares were voted at the special meeting, and about 91.6% of votes cast were in favor of the proposal. - Sunrise Realty Trust declared a stub period dividend of $0.09 per share payable on November 5, 2026 to stockholders of record on November 2, 2026. [Sunrise Realty Trust](https://akta.pro/company-profiles/0000bjf/sunrise-realty-trust) stockholders approved the issuance of approximately 8,464,955 shares of SUNS common stock in connection with the company's merger with [Southern Realty Trust](https://akta.pro/company-profiles/0000dux/southern-realty-trust), the company said on October 23, 2026. [Stock Titan](https://www.stocktitan.net/news/SUNS/stockholders-of-sunrise-realty-trust-a-tannenbaum-capital-group-io5y8dnfqbwv.html) reported the vote. Sunrise Realty Trust is a Nasdaq-listed commercial real estate lender on the Tannenbaum Capital Group Real Estate platform. Southern Realty Trust is a private mortgage REIT within the same TCG Real Estate group of affiliated CRE-focused debt vehicles. ## Sunrise Realty Trust Merger Vote and Dividend At the special meeting held on October 23, 2026, approximately 59.5% of the outstanding shares of SUNS common stock were voted virtually or by proxy, and approximately 91.6% of the votes cast were in favor of the proposal, the company said. Southern Realty Trust stockholders also approved the merger at their own special meeting held the same day, according to the company. Final voting results will be disclosed in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission, the company said. "We appreciate the support of our stockholders as we advance this strategic combination," said Leonard M. Tannenbaum, Executive Chairman. "The Merger is expected to create a larger, more efficient lending platform with increased scale and improved access to capital, positioning us to continue to generate attractive risk-adjusted returns and build long-term stockholder value." Under the Agreement and Plan of Merger, the SUNS board declared a prorated cash dividend of $0.09 per share of SUNS common stock for the fourth quarter through the day prior to the closing of the merger. The stub period dividend is payable on November 5, 2026 to stockholders of record on November 2, 2026. The merger is expected to close on November 5, 2026, subject to the satisfaction of remaining customary closing conditions. Upon closing, Southern Realty Trust will merge with and into a wholly owned subsidiary of SUNS, and SUNS common stock will continue to trade on Nasdaq under the symbol "SUNS." Sunrise Realty Trust and Southern Realty Trust agreed to merge in August 2026, a transaction expected to close by the end of 2026 pending stockholder approval, American City Business Journals reported. ## Sunrise Realty Trust's Lending Platform According to akta.pro [company records](https://akta.pro/company-data), Sunrise Realty Trust operates on the Tannenbaum Capital Group Real Estate platform, with Leonard Tannenbaum as Founder and Executive Chairman. The same records show total portfolio commitments of $442 million as of Q4 2025, Q1 2026 revenue of $10.27 million representing a 107.17% year-over-year increase, and full year 2025 GAAP net income of $12.1 million. The records list two funding rounds: a $69 million post-IPO equity round in January 2025 and a $90 million post-IPO debt round in May 2025 led by City National Bank of Florida and East West Bank. ## How the Merger Reached a Vote On October 13, 2026, Sunrise Realty Trust announced that ISS and Glass Lewis each recommended a vote for its merger with Southern Realty Trust, including the stock issuance and adjournment proposals, GlobeNewswire reported. On September 24, 2026, Kahn Swick & Foti, LLC said it was investigating the proposed merger, and that upon closing Sunrise Realty shareholders would own approximately 62% of the combined company, FinancialContent Business Page reported. On August 6, 2026, Sunrise Realty Trust and Southern Realty Trust announced a definitive merger agreement, Yahoo reported. ## Next Steps for the Southern Realty Trust Combination The merger is expected to close on November 5, 2026, subject to the satisfaction of remaining customary closing conditions, the company said. ## Companies in this story - [Sunrise Realty Trust company profile](https://akta.pro/company-profiles/0000bjf/sunrise-realty-trust) · website: https://sunriserealtytrust.com - [Southern Realty Trust company profile](https://akta.pro/company-profiles/0000dux/southern-realty-trust) · website: https://thesrtgroup.com --- News for Agent · https://newsforagent.com/llms.txt