Strategic Value Partners Amends CBL Holdings Filing

TL;DR

SVP updated their CBL filing - ownership changes afoot.

AI Summary

Strategic Value Partners, LLC, along with its affiliated funds, has filed an SC 13D/A amendment on October 1, 2024, concerning their holdings in CBL & Associates Properties Inc. The filing indicates a change in their beneficial ownership, though specific new percentage or dollar amounts are not detailed in this excerpt. The group, led by Victor Khosla, is a significant stakeholder in the real estate investment trust.

Why It Matters

This filing signals a potential shift in the ownership structure or strategy of a major real estate investment trust, which could impact its future operations and stock performance.

Risk Assessment

Risk Level: medium — Amendments to SC 13D filings often indicate active engagement or changes in strategy by significant shareholders, which can introduce uncertainty.

Key Players & Entities

• Strategic Value Partners, LLC (company) — Filing entity
• CBL & Associates Properties Inc (company) — Subject company
• Victor Khosla (person) — Associated with Strategic Value Partners

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $25.10 — ffshore Fund L.P. 9/20/2024 Sale 75 $25.10 Strategic Value Sullivan Offshore Fun
• $25.25 — hore Fund L.P. 9/24/2024 Sale 7,652 $25.25 Strategic Value Sullivan Offshore Fun
• $25.26 — hore Fund L.P. 9/25/2024 Sale 3,309 $25.26 Strategic Value Sullivan Offshore Fun
• $25.15 — hore Fund L.P. 9/26/2024 Sale 8,511 $25.15 Strategic Value Sullivan Offshore Fun
• $25.27 — ore Fund L.P. 9/27/2024 Sale 22,387 $25.27 Strategic Value Sullivan Offshore Fun
• $25.24 — hore Fund L.P. 9/30/2024 Sale 8,961 $25.24 Strategic Value Sullivan Offshore Fun

Filing Documents

• tm2425326d1_sc13da.htm (SC 13D/A) — 340KB
• 0001104659-24-105105.txt ( ) — 343KB

(d) or 2(e)

ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 277,753 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 277,753 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 277,753 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.9% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Capital Solutions Offshore Fund, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 194,874 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 194,874 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 194,874 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.6% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Capital Solutions Fund, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 66,084 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 66,084 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 66,084 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.2% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Sullivan Offshore Fund, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 23,140 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 23,140 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 23,140 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.1% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON SVP Special Situations III-A LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* AF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 61,196 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 61,196 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 61,196 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.2% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Opportunities Fund, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 61,196 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 61,196 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 61,196 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.2% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Special Situations Offshore Fund IV, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 356,952 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 356,952 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 356,952 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 1.1% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Special Situations Fund IV, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 140,337 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 140,337 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 140,337 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.5% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON SVP Special Situations IV LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* AF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO

(d) or 2(e)

ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 497,289 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 497,289 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 497,289 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 1.6% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Special Situations Offshore Fund V, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 404,128 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 404,128 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 404,128 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 1.3% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 124830 878 1 NAME OF REPORTING PERSON Strategic Value Special Situations Fund V, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS* WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF 7 SOLE VOTING POWER 0 SHARES BENEFICIALLY OWNED BY 8 SHARED VOTING POWER 233,675 EACH REPORTING PERSON 9 SOLE DISPOSITIVE POWER 0 WITH: 10 SHARED DISPOSITIVE POWER 233,675 11 A

of the Schedule 13D is amended and supplemented as follows

Item 5 of the Schedule 13D is amended and supplemented as follows: (a) — (b) The information requested by these subsections is incorporated herein by reference to the information provided on the cover pages to this Schedule 13D. All percentages set forth herein are based on 31,466,806 shares of Common Stock of the Issuer outstanding as of August 7, 2024, as reported in the Issuer’s Form 10-Q filed with the SEC on August 9, 2024. (c) Except as set forth on Schedule A , no Reporting Person has effected any transaction in shares of Common Stock since September 20, 2024 (the date of the filing of Amendment No. 3 to the Schedule 13D). (e) On October 1, 2024, the Reporting Persons ceased to be beneficial owners of 5% or more of the outstanding Common Stock of the Issuer. Accordingly, this Amendment No. 4 constitutes an exit filing for each of the Reporting Persons. SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: October 1, 2024 STRATEGIC VALUE PARTNERS, LLC By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer /s/ Victor Khosla Victor Khosla SVP CAPITAL SOLUTIONS LLC (FKA SVP DISLOCATION LLC) By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer STRATEGIC VALUE CAPITAL SOLUTIONS OFFSHORE FUND, L.P. By: SVP Capital Solutions LLC (fka SVP Dislocation LLC) , its investment manager By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer STRATEGIC VALUE CAPITAL SOLUTIONS FUND, L.P. By: SVP Capital Solutions LLC (fka SVP Dislocation LLC) , its investment manager By: /s/ Lewis Schwartz Name: Lewis Schwartz Title: Chief Financial Officer STRATEGIC VALUE SULLIVAN OFFSHORE FUND, L.P. By: SVP Capital Solutions LLC (fka SVP Dislocation LLC) , its investment manager By: /s/ Lewis Schwartz Name

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View this SC 13D/A filing on SEC EDGAR