BUZZ-Sunrise Realty Trust dips on stock offering plan

Reuters

01-21

** Commercial real estate lender Sunrise Realty Trust's

shares fall 1.3% to $13.95 in early trading

** SUNS, which offers loans to projects in southern United States, launches public offering of 5.5 mln shares; price undisclosed

** Raymond James, Keefe, Bruyette & Woods, BTIG and Oppenheimer are the joint book-running managers for the offering

** SUNS has 6.9 mln outstanding shares and $97.9 mln market capitalization, according to data compiled by LSEG

** Proceeds from the offering will be used to fund loans and for other purposes, including the repayment of debt, the company said

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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