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CTO Realty Growth Announces Partial Extinguishment of 3.875% Convertible Senior Notes

Deals & Cases

Vinson & Elkins represented CTO Realty Growth, Inc. (the “Company”) in completing separate, privately negotiated transactions with holders of  $35,208,000 in aggregate principal amount of the Company’s 3.875% Convertible Senior Notes due 2025 (the “Notes”), in which the holders exchanged their Notes for an aggregate of 1,089,555 shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), and aggregate cash payments totaling approximately $29 million.

The Notes received by the Company were retired. The exchanges of shares of Common Stock for the Notes were made pursuant to the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended.

The Vinson & Elkins team was led by partner Zach Swartz with assistance from associates Selena Govan and Bekah Briggs.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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