Cetus Capital VI Group Maintains Passive Stake in CBL Properties

TL;DR

**Cetus Capital VI group is still a major, passive holder of CBL stock.**

AI Summary

Cetus Capital VI, L.P. and its associated funds, Littlejohn Opportunities Master Fund LP, OFM II, L.P., and VSS Fund, LP, filed an amended SC 13G/A on February 6, 2024, indicating their continued passive ownership in CBL & Associates Properties, Inc. (CBL). This filing, dated for the event on December 31, 2023, updates their previous disclosures regarding their holdings of CBL's Common Stock. This matters to investors because it confirms that a significant institutional investor group maintains its position in CBL, suggesting a stable, long-term outlook from their perspective without any immediate intent to influence company management.

Why It Matters

This filing confirms that a major institutional investor group, Cetus Capital VI, continues to hold a significant, but passive, stake in CBL & Associates Properties, Inc., signaling their ongoing confidence in the company without seeking control.

Risk Assessment

Risk Level: low — This filing indicates a stable, passive investment from a major holder, which generally reduces immediate market volatility risk.

Analyst Insight

Investors should note that a significant institutional holder is maintaining its position in CBL, suggesting stability, but without any indication of activist intent that might drive short-term price movements.

Key Players & Entities

• Cetus Capital VI, L.P. (company) — filing party and reporting person
• CBL & Associates Properties, Inc. (company) — subject company of the filing
• Littlejohn Opportunities Master Fund LP (company) — group member of Cetus Capital VI, L.P.
• OFM II, L.P. (company) — group member of Cetus Capital VI, L.P.
• VSS Fund, LP (company) — group member of Cetus Capital VI, L.P.
• December 31, 2023 (date) — date of the event requiring the filing
• February 6, 2024 (date) — date the filing was made
• Shon Glusky, Esq. (person) — attorney for the reporting person
• Jason Schendel, Esq. (person) — attorney for the reporting person

Forward-Looking Statements

• Cetus Capital VI will likely maintain a passive investment strategy in CBL & Associates Properties, Inc. for the foreseeable future. (Cetus Capital VI, L.P.) — high confidence, target: 2025-12-31

FAQ

Key Financial Figures

• $0.001 — Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class of

Filing Documents

• tm245261d1_sc13ga.htm (SC 13G/A) — 92KB
• 0001104659-24-011173.txt ( ) — 93KB

(a). Name of Issuer

Item 1(a). Name of Issuer : CBL & Associates Properties, Inc. (the “ Issuer ”)

(b). Address of Issuer’s Principal Executive Offices

Item 1(b). Address of Issuer’s Principal Executive Offices: 2030 Hamilton Place Blvd., Suite 500 Chattanooga, TN 37421-6000

(a). Name of Person(s) Filing

Item 2(a). Name of Person(s) Filing: This statement is filed by the entities listed below, all of whom together are referred to herein as the “ Reporting Persons ”. (i) Cetus Capital VI, L.P., a Delaware limited partnership, whose general partner is Littlejohn Associates VI, L.P., a Delaware limited partnership. (ii) Littlejohn Opportunities Master Fund LP, a Cayman Islands limited partnership, whose general partner is Littlejohn Opportunities GP LLC, a Delaware limited liability company. (iii) OFM II, L.P., a Delaware limited partnership, whose general partner is Littlejohn Opportunities GP II, LLC, a Delaware limited liability company. (iv) VSS Fund, L.P., a Delaware limited partnership, whose general partner is Littlejohn Opportunities GP LLC, a Delaware limited liability company.

(b). Address of Principal Business Office or, if none, Residence

Item 2(b). Address of Principal Business Office or, if none, Residence: The address of the principal business office of each of the Reporting Persons is 8 Sound Shore Drive, Suite 303, Greenwich, CT 06830.

(c). Citizenship

Item 2(c). Citizenship: See Item 4 of each cover page.

(d). Title of Class of Securities

Item 2(d). Title of Class of Securities: See the cover page of this filing.

(e). CUSIP Number

Item 2(e). CUSIP Number: 124830878. Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable.

Ownership

Item 4. Ownership. (a) Amount beneficially owned: -6- CUSIP No. 124830878 Page 7 of 11 See Item 9 of each cover page. (b) Percent of class: See Item 11 of each cover page. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: SeeItem 5 of each cover page. (ii) Shared power to vote or to direct the vote: SeeItem 6 of each cover page. (iii) Sole power to dispose or to direct the disposition of: SeeItem 7 of each cover page. (iv) Shared power to dispose or to direct the disposition of: SeeItem 8 of each cover page.

Ownership

Item 5. Ownership of Five Percent or Less of a Class. If the statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following .

Ownership

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable.

Identification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice

Item 9. Notice of Dissolution of Group. Not applicable. -7- CUSIP No. 124830878 Page 8 of 11

Certification

Item 10. Certification. By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. -8- CUSIP No. 124830878 Page 9 of 11

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: February 6, 2024 Cetus Capital VI, L.P. By: Littlejohn Associates VI, L.P., its general partner Name: /s/ Robert E. Davis By: Robert E. Davis, Manager Dated: February 6, 2024 Littlejohn Opportunities Master Fund LP By: Littlejohn Opportunities GP LLC, its general partner Name: /s/ Robert E. Davis By: Robert E. Davis, authorized signatory Dated: February 6, 2024 OFM II, LP By: Littlejohn Opportunities GP II, LLC, its general partner Name: /s/ Robert E. Davis By: Robert E. Davis, authorized signatory Dated: February 6, 2024 VSS Fund, L.P. By: Littlejohn Opportunities GP LLC, its general partner Name: /s/ Robert E. Davis By: Robert E. Davis, authorized signatory -9- CUSIP No. 124830878 Page 10 of 11 EXHIBIT INDEX Exhibit Exhibit A: Joint Filing Agreement. -10- CUSIP No. 124830878 Page 11 of 11 EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Stock, $0.001 par value per share, of CBL & Associates Properties, Inc., and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings. The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13G and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate. This Joi

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