ACRES Files Pro Forma Financials for Completed Internalization Merger
ACR is trading near its 52-week low of $13.83 (7.2% above the low) on light trading volume (0.4× avg).
Summary
ACRES Commercial Realty filed pro forma financials for its completed merger with external manager ACRES Capital Corp., showing a combined net loss of $36.9 million for H1 2026 and $169.5 million in goodwill, plus a separate $200 million debt refinancing.
Key Events · M&A and Partnerships · ACR
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Pro Forma Financials Filed
Exhibit 99.4 provides unaudited pro forma combined balance sheet as of June 30, 2026 and statements of operations for H1 2026 and FY 2025, showing pro forma total assets of $4.55 billion and total equity of $1.17 billion.
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Preliminary Purchase Price Allocation
Total estimated preliminary purchase price of $68.9 million, with goodwill of $169.5 million recorded. Final allocation pending third-quarter 2026 valuations.
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Pro Forma Net Loss
Pro forma net loss allocable to common shares of $36.9 million for H1 2026 and $36.4 million for FY 2025, reflecting $39.5 million in one-time transaction costs including $23.8 million in payroll taxes.
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Debt Refinancing Disclosed
ACR refinanced its $150 million 5.75% senior unsecured notes with $200 million 8.625% senior secured notes maturing in five years, closed August 6, 2026. This refinancing is not reflected in the pro forma financials.
Analysis · ACR · Real Estate & Construction
This amendment provides the first look at the combined company's pro forma financials following the August 6 internalization merger. The pro forma statements show a combined net loss allocable to common shares of $36.9 million for the first half of 2026, driven by $39.5 million in one-time transaction costs and a preliminary purchase price allocation that produced $169.5 million in goodwill. The filing also confirms ACR refinanced its $150 million 5.75% notes with $200 million of 8.625% senior secured notes, a material change to the capital structure that was not reflected in the pro forma statements.
How filings like this one have moved
In the 30 days to Aug 24, 2026, 29.4% of the 2796 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.03%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ACR was trading at $14.82 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $105.7M. The 52-week trading range was $13.83 to $24.61. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.