Creative Media & Community Trust Corp Files SC 13D/A

TL;DR

CMCT filed a 13D/A, looks like they're changing something. Keep an eye on it.

AI Summary

On September 27, 2024, Creative Media & Community Trust Corp filed an SC 13D/A, indicating a change in beneficial ownership. The filing pertains to the company itself, which is a Real Estate Investment Trust incorporated in Maryland. The company's principal business address is in Dallas, Texas.

Why It Matters

This filing signals a potential shift in control or significant investment in Creative Media & Community Trust Corp, which could impact its strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — Schedule 13D/A filings often indicate significant changes in ownership or control, which can lead to volatility and uncertainty for investors.

Key Players & Entities

• Creative Media & Community Trust Corp (company) — Subject company
• CIM Commercial Trust Corp (company) — Former company name
• PMC COMMERCIAL TRUST /TX (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securitie
• $1.9750 — in connection with the redemption, was $1.9750 (with each such term as defined in the

Filing Documents

• cmct13dasept2024.htm (SC 13D/A) — 146KB
• 0000908311-24-000055.txt ( ) — 148KB

Identity and Background

Item 2. Identity and Background Item 2 of the Schedule 13D Filing is hereby supplemented by adding the following immediately after the last paragraph thereof CIM Capital Real Property Management, LLC ("CIM CRPM") is a Delaware limited liability company. CIM CRPM is a real property manager and wholly owned subsidiary of CIM Capital, LLC. The address of the principal office of CIM CRPM is 4700 Wilshire Boulevard, Los Angeles, California 90010. During the last five years, CIM RACR has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). During the last five years, CIM CRPM has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in CIM CRPM being made subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration Item 3 of the Schedule 13D Filing is hereby amended and restated by adding the following immediately after the last paragraph thereof On September 25, 2024, the Issuer issued to CIM CRPM 2,078,349 shares of Common Stock in respect of redemptions of Series A1 Preferred Stock, par value $0.001 per share (the "Series A1 Preferred Stock"), based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding September 23, 2024 (with each such term as defined in the Issuer's charter).

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer Items 5(a), (b) and (c) of the Schedule 13D Filing are hereby amended and restated in their entirety as follows (a) CIM CMCT MLP directly owns 9,168,916 Common Shares, or approximately 11.0% of the outstanding Common Shares. CIM Urban Sponsor, LLC ("CIM Urban Sponsor") directly owns 473,033 Common Shares, or approximately 0.6% of the outstanding Common Shares. CIM Real Assets Credit Fund ("CIM RACR") directly owns 388,344 Common Shares, or approximately 0.5% of the outstanding Common Shares. CIM Capital Real 9 Property Management, LLC ("CIM CRPM") directly owns 2,078,349 Common Shares, or approximately 2.5% of the outstanding Common Shares. Messrs. Ressler, Shemesh and Kuba may be deemed to indirectly beneficially own the 12,108,642 Common Shares beneficially owned by CIM CMCT MLP, CIM Urban Sponsor, CIM RACR and CIM CRPM described above (collectively, the " Affiliate Shares ") as a result of their status as control persons of CIM Group, as described in Item 2 of the Schedule 13D Filing. In addition to the Affiliate Shares, Mr. Ressler is the indirect beneficial owner of 122,628 Common Shares through the holdings of a subsidiary of a trust formed by Mr. Ressler for the benefit of his family members for which he serves as trustee. As a result, Mr. Ressler may be deemed to beneficially own 12,231,270 Common Shares, representing approximately 14.7% of the outstanding Common Shares. In addition to the Affiliate Shares, Mr. Shemesh is the indirect beneficial owner of 45,420 Common Shares through the holdings of The Shemesh Family Trust, of which he was the grantor. As a result, Mr. Shemesh may be deemed to beneficially own 12,154,062 Common Shares, representing approximately 14.6% of the outstanding Common Shares. In addition to the Affiliate Shares, Mr. Kuba is the indirect beneficial owner of 45,420 Common Shares through the holdings of The Kuba Family Trust, of which he was the grantor. As a result, Mr. Kuba may be

View Full Filing

View this SC 13D/A filing on SEC EDGAR