SCHEDULE 13D/A: Leonard M. Tannenbaum Boosts Stake in Sunrise Realty Trust to 22.8% Following Public Offering

Leonard M. Tannenbaum, a significant shareholder, increased his beneficial ownership in Sunrise Realty Trust, Inc. to 22.8% of the common stock after acquiring 1,000,000 shares in the company's recent public offering.

Summary

• This document is Amendment No. 1 to the Schedule 13D originally filed by Leonard M. Tannenbaum regarding his ownership in Sunrise Realty Trust, Inc.
• The amendment reports that Mr. Tannenbaum acquired an additional 1,000,000 shares of Common Stock on January 29, 2025, as part of the Issuer's public offering.
• These shares were purchased at the public offering price of $12.00 per share.
• Following this acquisition, Mr. Tannenbaum's aggregate beneficial ownership in Sunrise Realty Trust, Inc. stands at 2,914,352 shares.
• This represents 22.8% of the Issuer's Common Stock outstanding, based on 12,754,676 shares outstanding after the public offering.
• His beneficial ownership includes 2,435,213 shares with sole voting and dispositive power (including 91,238 restricted shares and 1,000 shares in a UTMA account for his son).
• Additionally, 479,139 shares are held with shared voting and dispositive power through the Tannenbaum Family Foundation (420,181 shares) and Tannenbaum Family 2012 Trust (58,958 shares), over which he disclaims beneficial ownership.
• He also disclaims beneficial ownership over 33,132 shares held by his spouse, Robyn Tannenbaum.

Sentiment

Score: 8

Explanation: The document indicates a significant increase in ownership by a key individual, Leonard M. Tannenbaum, who purchased a substantial number of shares in a public offering. This signals strong confidence in the company's future and aligns his interests with shareholders, which is a very positive indicator. There are no negative disclosures.

Positives

• A significant shareholder, Leonard M. Tannenbaum, increased his stake by purchasing 1,000,000 shares in the public offering, signaling strong confidence in the company's future.
• His aggregate beneficial ownership now stands at a substantial 22.8% of the company's common stock, aligning his interests closely with other shareholders.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance. It is an ownership disclosure.

Industry Context

This filing primarily concerns a change in beneficial ownership by a key individual following a public offering. While Sunrise Realty Trust is a REIT, the document does not provide broader industry trends or competitive analysis. The increased stake by a significant holder could be seen as a positive signal within the real estate investment trust sector, indicating confidence in the company's assets or strategy.

Related Party Transactions

• 420,181 shares of Common Stock are held by the Tannenbaum Family Foundation (formerly Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as President.
• 58,958 shares of Common Stock are held by Tannenbaum Family 2012 Trust for the benefit of certain family members, for which the Reporting Person serves as Investment Advisor.
• 33,132 shares of Common Stock are held by Robyn Tannenbaum, the Reporting Person's spouse.
• The Reporting Person disclaims beneficial ownership over shares held by the Tannenbaum Family Foundation, Tannenbaum Family 2012 Trust, and his spouse.

Stakeholder Impact

• Shareholders: The increased stake by a significant insider could be perceived as a positive signal, potentially boosting investor confidence and aligning management/insider interests with common shareholders.

Key Dates

Recommendation

Keywords

Sunrise Realty Trust, Leonard M. Tannenbaum, Schedule 13D/A, Beneficial Ownership, Common Stock, Public Offering, Real Estate Investment Trust, REIT, Shareholder Stake, Investment