CTO Realty Growth, Inc. has announced that it has closed its previously announced underwritten public offering of 3,450,000 shares of common stock, which includes the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of US$19.00 per share. Total gross proceeds to the Company from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately US$65.6 million.

The Company intends to use the net proceeds from the offering to fund a portion of the $96 million 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 acted as lead joint book-running managers for the offering. BMO Capital Markets, Truist Securities and KeyBanc Capital Markets acted as book-running managers for the offering. Baird, PNC Capital Markets LLC, Regions Securities LLC, Synovus Securities Inc., B. Riley Securities, Compass Point, Janney Montgomery Scott, JonesTrading Institutional Services and EF Hutton, division of Benchmark Investments, LLC, acted as co-managers for the offering.

All shares of common stock were offered under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission. The offering of these shares was made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting: Wells Fargo Securities, LLC, 500 West 33rd Street, New York, New York 10001, Attention: Equity Syndicate Department, telephone: (800) 326-5897, email: cmclientsupport@wellsfargo.com; or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, telephone (800) 248-8863, email: prospectus@raymondjames.com.