Creative Media & Community Trust Corp Files 8-K

TL;DR

CMCT filed an 8-K on Jan 6th about equity sales & bylaws. Check it out.

AI Summary

Creative Media & Community Trust Corp filed an 8-K on January 13, 2025, reporting on unregistered sales of equity securities and amendments to its articles of incorporation or bylaws. The filing also included financial statements and exhibits, with the earliest event reported occurring on January 6, 2025. The company, formerly known as CIM Commercial Trust Corp and PMC COMMERCIAL TRUST /TX, is incorporated in Maryland and has its fiscal year end on December 31.

Why It Matters

This 8-K filing indicates potential changes in the company's equity structure and governance, which could impact shareholders and investors.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of corporate actions and does not immediately suggest significant financial distress or operational risk.

Key Players & Entities

• Creative Media & Community Trust Corp (company) — Registrant
• CIM Commercial Trust Corp (company) — Former Company Name
• PMC COMMERCIAL TRUST /TX (company) — Former Company Name
• January 6, 2025 (date) — Earliest event reported date
• January 13, 2025 (date) — Report Date

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value CMCT Nasdaq Global Market C
• $0.01 — anding share of common stock, par value $0.01 per share. The second Amendment, effect

Filing Documents

• cmct-20250106.htm (8-K) — 35KB
• cmct-xarticlesofamendmentr.htm (EX-3.1) — 8KB
• cmct-xarticlesofamendmentra.htm (EX-3.2) — 8KB
• 0000908311-25-000004.txt ( ) — 237KB
• cmct-20250106.xsd (EX-101.SCH) — 3KB
• cmct-20250106_def.xml (EX-101.DEF) — 18KB
• cmct-20250106_lab.xml (EX-101.LAB) — 32KB
• cmct-20250106_pre.xml (EX-101.PRE) — 19KB
• cmct-20250106_htm.xml (XML) — 5KB

02 Unregistered Sale of Equity Securities

Item 3.02 Unregistered Sale of Equity Securities. On January 8, 2025, Creative Media & Community Trust Corporation (the "Company") issued 20,368 shares of Common Stock in respect of redemptions of the Company's Series A1 Preferred Stock, par value $0.001 (the "Series A1 Preferred Stock"), in lieu of cash payment for the redemption of 1,738 shares of Series A1 Preferred Stock. Such redemptions were requested by the holders of Series A1 Preferred Stock based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding each redemption date (with each such term as defined in the Company's charter). On January 9, 2025, the Company issued 83,952 shares of Common Stock in respect of redemptions of the Company's Series A1 Preferred Stock, in lieu of cash payment for the redemption of 7,120 shares of Series A1 Preferred Stock. Such redemptions were requested by the holders of Series A1 Preferred Stock based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding each redemption date. Additionally, on January 9, 2025, the Company issued 127,392 shares of Common Stock in respect of redemptions of the Company's Series A Preferred Stock, par value $0.001 (the "Series A Preferred Stock"), in lieu of cash payment for the redemption of 10,269 shares of Series A Preferred Stock. Such redemptions were requested by the holders of Series A Preferred Stock based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding each redemption date. On January 10, 2025, the Company issued 770,035 shares of Common Stock in respect of redemptions of the Company's Series A1 Preferred Stock, in lieu of cash payment for the redemption of 65,285 shares of Series A1 Preferred Stock. Such redemptions were requested by the holders of Series A1 Preferred Stock based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding each redemption date. Additionally, on January 10, 2025, the Company issued 485,326 shares of Common St

03 Amendments to Articles of Incorporation or Bylaws Change in Fiscal Year

Item 5.03 Amendments to Articles of Incorporation or Bylaws Change in Fiscal Year. The Company filed two amendments to its charter (each, an "Amendment" and collectively, the "Amendments") with the State Department of Assessments and Taxation of Maryland, to effectuate a one-for-ten reverse stock split (the "Reverse Stock Split") of its issued and outstanding common stock. Pursuant to the first Amendment, effective as of 12:01 am Eastern Standard Time on January 6, 2025 (the "Effective Time"), every ten shares of common stock, par value $0.001 per share, issued and outstanding immediately prior to the Effective Time will be automatically combined into one issued and outstanding share of common stock, par value $0.01 per share. The second Amendment, effective as of 12:02 am Eastern Standard Time on January 6, 2025, will revert the par value of the Company's issued and outstanding common stock to $0.001 per share. The information set forth above does not purport to be complete in scope and is qualified in its entirety by the full text of the Amendments, which are attached to this Current Report on Form 8-K as Exhibits 3.1 and 3.2 and incorporated into this Item 5.03 by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Exhibit Description 3.1* Creative Media & Community Trust Corporation Articles of Amendment (reverse stock split). 3.2* Creative Media & Community Trust Corporation Articles of Amendment (par value decrease). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Filed herewith 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: January 13, 2025 By: /s/ Barry N. Berlin Barry N. Berlin Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR