SUN COMMUNITIES Files 8-K on Material Definitive Agreement

TL;DR

**SUI just signed a big deal, but the 8-K is light on details, leaving investors guessing.**

AI Summary

SUN COMMUNITIES INC (SUI) filed an 8-K on January 5, 2024, reporting an event that occurred on January 4, 2024, related to an 'Entry into a Material Definitive Agreement' and 'Other Events.' While the filing confirms the company's registration on the New York Stock Exchange under the trading symbol SUI, it does not disclose the specific details of the material agreement. This matters to investors because without the specifics of the agreement, it's impossible to assess its potential positive or negative impact on the company's future performance and stock value.

Why It Matters

This filing indicates a significant new agreement for SUN COMMUNITIES INC, but the lack of specific details means investors are currently in the dark about its potential financial implications.

Risk Assessment

Risk Level: medium — The risk is medium because a material definitive agreement has been entered into, but the lack of specific details in this filing creates uncertainty about its impact.

Analyst Insight

A smart investor would await further disclosures from SUN COMMUNITIES INC regarding the specifics of the 'Material Definitive Agreement' before making any investment decisions, as the current filing lacks crucial details to assess impact.

Key Players & Entities

• SUN COMMUNITIES INC (company) — the registrant filing the 8-K
• New York Stock Exchange (company) — where SUI Common Stock is registered
• SUI (company) — trading symbol for SUN COMMUNITIES INC
• January 4, 2024 (date) — date of the earliest event reported
• January 5, 2024 (date) — date the 8-K was filed

Forward-Looking Statements

• SUN COMMUNITIES INC will file an amendment or a subsequent 8-K providing more details about the 'Material Definitive Agreement'. (SUN COMMUNITIES INC) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value SUI New York Stock Exchange
• $500,000,000 — ffering by the Operating Partnership of $500,000,000 in aggregate principal amount of its 5.

Filing Documents

• sui-20240104.htm (8-K) — 31KB
• underwritingagreementjanua.htm (EX-1.1) — 281KB
• suncommunitiesincprices5.htm (EX-99.1) — 7KB
• image_0a.jpg (GRAPHIC) — 17KB
• sui-20240104_g1.jpg (GRAPHIC) — 15KB
• suncommunitiesincprices5001.jpg (GRAPHIC) — 301KB
• suncommunitiesincprices5002.jpg (GRAPHIC) — 28KB
• 0000912593-24-000012.txt ( ) — 1023KB
• sui-20240104.xsd (EX-101.SCH) — 2KB
• sui-20240104_lab.xml (EX-101.LAB) — 25KB
• sui-20240104_pre.xml (EX-101.PRE) — 13KB
• sui-20240104_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 4, 2024, Sun Communities Operating Limited Partnership (the "Operating Partnership"), and Sun Communities, Inc. (the "Company" and together with the Operating Partnership, the "Obligors") entered into an underwriting agreement (the "Underwriting Agreement") with Citigroup Global Markets Inc., J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several underwriters named in Schedule I of the Underwriting Agreement (collectively the "Underwriters"), in connection with the public offering by the Operating Partnership of $500,000,000 in aggregate principal amount of its 5.500% Senior Notes due 2029 (the "Notes"). The Company will fully and unconditionally guarantee the payment of principal and of premium, if any, and interest on the Notes. The offering is expected to close on January 11, 2024, subject to customary closing conditions. The offering and sale of the Notes (and the related guarantees by the Company) have been registered under the Securities Act of 1933, as amended, pursuant to the Obligors' effective shelf registration statement on Form S-3 (Registration No. 333-255020 and Registration No. 333-255020-01) (the "Registration Statement"). The Underwriting Agreement contains customary representations, warranties and agreements by the Obligors and the Underwriters, and customary conditions to closing, indemnification obligations of the Obligors and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement, which is filed as Exhibit 1.1 hereto and incorporated by reference herein. The Notes will be issued under an indenture, dated June 28, 2021 (the "Base Indenture"), by and among the Operating P

01 Other Events

Item 8.01 Other Events. On January 4, 2024, the Company issued a press release announcing the pricing of the offering of the Notes. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 1.1* Underwriting Agreement dated January 4, 2024 by and among Sun Communities, Inc., Sun Communities Operating Limited Partnership, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and BofA Securities, Inc. 99.1 Press Release dated January 4, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document) * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K because such schedules and exhibits do not contain information which is material to an investment decision or which is not otherwise disclosed in the filed agreements. The Company will furnish the omitted schedules and exhibits to the SEC upon request by the SEC.

SIGNATURES

SIGNATURES 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 hereunto duly authorized. SUN COMMUNITIES, INC. Da ted: January 5 , 2024 By: /s/ Fernando Castro-Caratini Fernando Castro-Caratini, Executive Vice President, Chief Financial Officer, Secretary and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR