Creative Media & Community Trust Corp. Enters Material Agreement

TL;DR

CMCT signed a big deal on 6/20. Details to follow.

AI Summary

On June 20, 2024, Creative Media & Community Trust Corp. entered into a material definitive agreement. The company, formerly known as CIM Commercial Trust Corp. and PMC Commercial Trust, is incorporated in Maryland and headquartered in Dallas, Texas.

Why It Matters

This filing indicates a significant new development or contract for Creative Media & Community Trust Corp., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that may affect the company's financial health and stock performance.

Key Players & Entities

• Creative Media & Community Trust Corp. (company) — Registrant
• CIM Commercial Trust Corp (company) — Former company name
• PMC Commercial Trust (company) — Former company name
• June 20, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value CMCT Nasdaq Global Market C
• $400,000,000 — fering (the "Offering") of a maximum of $400,000,000, on an aggregate basis, of Series A1 Pr

Filing Documents

• cmct-20240620.htm (8-K) — 33KB
• cmct-xex11xxseriesa1xfifth.htm (EX-1.1) — 208KB
• 0000908311-24-000026.txt ( ) — 458KB
• cmct-20240620.xsd (EX-101.SCH) — 3KB
• cmct-20240620_def.xml (EX-101.DEF) — 18KB
• cmct-20240620_lab.xml (EX-101.LAB) — 32KB
• cmct-20240620_pre.xml (EX-101.PRE) — 19KB
• cmct-20240620_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On June 20, 2024, Creative Media & Community Trust Corporation (the "Company") entered into a Fifth Amended and Restated Dealer Manager Agreement (the "Agreement") with CIM Service Provider, LLC and CCO Capital, LLC (the "Dealer Manager"), pursuant to which the Dealer Manager has agreed to continue to serve as the exclusive dealer manager for the Company's offering (the "Offering") of a maximum of $400,000,000, on an aggregate basis, of Series A1 Preferred Stock, par value $0.001 per share, of the Company (the "Series A1 Preferred Stock"). Other than the dealer manager fee, which has decreased from 3.00% to 2.00%, the terms of the Agreement are consistent with the terms of the Fourth Amended and Restated Dealer Manager Agreement with CIM Service Provider, LLC and the Dealer Manager and only reflect certain technical changes in light of the Company's new registration statement on Form S-11 (Reg. No. 333-278628), declared effective by the SEC on June 7, 2024, pursuant to which the Company will conduct the Offering. The Agreement requires the Dealer Manager to use its reasonable best efforts to sell the shares of Series A1 Preferred Stock offered in the Offering. Subject to the terms, conditions and limitations described in the Agreement, the Company will pay to the Dealer Manager in connection with the Offering (1) a dealer manager fee of up to 2.00% of the aggregate selling price of the Series A1 Preferred Stock sold in the Offering and (2) selling commissions of up to 7.00% of the aggregate selling price of the Series A1 Preferred Stock sold in the Offering. The Dealer Manager reallows the full selling commission and, in its sole discretion, may reallow to another broker-dealer authorized by the Dealer Manager to sell shares in the Offering a portion of the dealer manager fee earned by the Dealer Manager in respect of shares sold by such broker-dealer. The Dealer Manager is a registered broker dealer and an aff

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 1.1 Fifth Amended and Restated Dealer Manager Agreement, dated as of June 20, 2024, by and among Creative Media & Community Trust Corporation, CIM Service Provider, LLC and CCO Capital, LLC. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CREATIVE MEDIA & COMMUNITY TRUST CORPORATION Dated: June 24, 2024 By: /s/ Barry N. Berlin Barry N. Berlin Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR