Day, and welcome to the Sunrise Realty Trust Inc. special meeting. I would now like to turn the conference over to Brian Sedrish, Chief Executive Officer. Please go ahead.
Good morning, and welcome to the 2026 special meeting of stockholders of Sunrise Realty Trust Inc. I am Brian Sedrish, Chief Executive Officer of Sunrise Realty Trust. It's my pleasure to welcome you here today for this special meeting and to introduce Gabriel Katz, our Chief Legal Officer and Corporate Secretary, who will act as Chair and Secretary of this meeting.
Thank you, Brian, and welcome everyone. Thank you for joining us today. We are excited to be hosting this as a virtual meeting, which allows us to reach a greater number of stockholders, with a number of stockholders attending via web portal. As is customary, we will conduct the business portion of our meeting first and answer any questions at the end of the meeting. We are now ready to call the meeting to order. Next, I will discuss the meeting procedures. We are also joined here today by representatives from CohnReznick LLP, our Independent Auditors, as well as the following board members: Brian Sedrish, our Chief Executive Officer, and Alexander Frank, an Independent Director who also served as a member of the special committee of the board that recommended the board approval of the merger and related matters. Jim Rate of Broadridge Financial Solutions Inc.
will act as Inspector of Elections for this meeting. Mr. Rate has subscribed and filed his oath of office for purpose of this meeting. The only formal items of business on the agenda for today's meeting are the two proposals described in the company's proxy statement for this meeting, dated September 18th, 2026. No other business will be transacted at this meeting. After the formal meeting has been adjourned, we will provide time for general questions. Only validated stockholders may ask questions in the designated field in the web portal. Please note that this meeting is being recorded. However, no one attending via webcast is permitted to use any recording device. Board of Directors set the close of business on September 10th, 2026, as the record date for determining stockholders entitled to vote at this meeting.
I've been presented with the following documents: A certified list of holders of the company's common stock as of close of the business on the record date, and an affidavit from Broadridge Financial Solutions as to the mailing on or about September 18th of the notice of special meeting, the proxy statement, and the proxy card to all stockholders of record as of the record date. These materials will be incorporated into the minutes of this meeting. The stockholder list shows that as of the record date, there were 13,515,851 shares of common stock outstanding and entitled to vote at this meeting. The Inspector of Election has informed me that there are shares of common stock representing 8,041,557 votes, or approximately 59.5% of the votes entitled to be cast, represented in person or by proxy at this meeting.
Since this represents more than a majority of all votes entitled to be cast at this meeting, a quorum is present for purposes of transacting business, and I declare the meeting duly and lawfully convened. Now I will present the matters to be voted upon. Proposal one is the stock issuance proposal. The proposal is to approve the issuance of approximately 8,464,955 shares of common stock of the company pursuant to the merger agreement and in accordance with the Nasdaq listing rules. Proposal two is the adjournment proposal to approve the adjournment of the special meeting, if necessary or appropriate for the purpose of soliciting additional proxies for the approval of the stock issuance proposal. As described in the proxy statement, the company does not intend to call a vote on this proposal if the stock issuance proposal is approved.
The vote required to approve each proposal is described in the company's proxy statement for this meeting. Polls are now open. Any stockholder who has not yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have already voted and do not wish to change their vote do not need to take any further action. I will now pause approximately one minute for voting. Now that everyone has had the opportunity to vote, I now declare the polls for the 2026 special meeting of stockholders closed. No further ballots, proxies, revocations, or changes will be accepted. Based on the tabulation submitted by the Inspector of Election, the preliminary vote report shows that the stock issuance proposal has been approved.
Because the stock issuance proposal has been approved, the adjournment proposal is unnecessary, and the company will not call a vote on it. We will be reporting the final vote result in a Form 8-K to be filed with the SEC within four business days. With that, I turn the meeting back to Brian Sedrish.
Thank you, Gabriel. There being no further business to come before the meeting, the 2026 special meeting of stockholders of Sunrise Realty Trust, Inc. is now adjourned. We will now begin our Q&A. I will pause for one minute to allow questions to be submitted. Given that there are no questions, that concludes today's meeting. Thank you for all of you for your attendance today and for your continued support.
The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.