Creative Media & Community Trust Corp. Reports Equity Sale
Ticker: CMCT · Form: 8-K · Filed: Sep 19, 2024 · CIK: 908311
| Field | Detail |
|---|---|
| Company | Creative Media & Community Trust Corp (CMCT) |
| Form Type | 8-K |
| Filed Date | Sep 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, unregistered-securities
Related Tickers: CMCT
TL;DR
CMCT sold unregistered equity, details TBD.
AI Summary
Creative Media & Community Trust Corp. reported an unregistered sale of equity securities on September 13, 2024. The filing does not specify the number of shares sold or the price per share, but it indicates a transaction involving common stock.
Why It Matters
This filing indicates a transaction involving the company's common stock, which could impact share count and potentially dilute existing shareholders.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate a need for capital or a private placement, the details of which are not fully disclosed in this initial filing.
Key Players & Entities
- Creative Media & Community Trust Corp (company) — Registrant
- September 13, 2024 (date) — Date of earliest event reported
- Maryland (jurisdiction) — State of incorporation
- 75-6446078 (identifier) — I.R.S. Employer Identification No.
- 5956 Sherry Lane, Suite 700, Dallas, TX 75225 (address) — Principal Executive Offices
FAQ
What type of equity securities were sold?
The filing indicates a sale of common stock, but does not specify the exact class or series.
How many shares of equity were sold?
The filing does not disclose the number of shares sold in this unregistered offering.
What was the price per share for the unregistered equity sale?
The filing does not provide the price per share for the unregistered equity securities.
Who purchased the unregistered equity securities?
The filing does not identify the purchasers of the unregistered equity securities.
What is the purpose of this unregistered sale of equity securities?
The filing does not explicitly state the purpose for the unregistered sale of equity securities.
Filing Stats: 548 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-09-19 16:57:42
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 Par Value CMCT Nasdaq Global Market C
Filing Documents
- cmct-20240913.htm (8-K) — 27KB
- 0000908311-24-000049.txt ( ) — 205KB
- cmct-20240913.xsd (EX-101.SCH) — 3KB
- cmct-20240913_def.xml (EX-101.DEF) — 18KB
- cmct-20240913_lab.xml (EX-101.LAB) — 32KB
- cmct-20240913_pre.xml (EX-101.PRE) — 19KB
- cmct-20240913_htm.xml (XML) — 5KB
02 Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sale of Equity Securities. Creative Media & Community Trust Corporation (the " Company ") provided notice on September 13, 2024 and September 14, 2024 of the redemption of approximately 2.2 million shares of the Company's Series A Preferred Stock, par value $0.001 and approximately 2.6 million shares of the Company's Series A1 Preferred Stock, par value $0.001. As provided for in the notices of redemption, the Company has determined to pay the redemption price in shares of common stock, $0.001 par value (the " Common Stock "). In accordance with the Company's charter, the number of shares of Common Stock to be issued will be based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding the applicable redemption date (with each such term as defined in the charter). Accordingly, the total number of shares of Common Stock that will be issued in connection with the redemptions is not currently determinable. The issuance of these shares of Common Stock is, as appropriate, exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 3(a)(9) thereunder. 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: September 19, 2024 By: /s/ Barry N. Berlin Barry N. Berlin Chief Financial Officer