Sun Communities Reports Unregistered Equity Sales
Ticker: SUI · Form: 8-K · Filed: Apr 3, 2024 · CIK: 912593
Sentiment: neutral
Topics: equity-sale, unregistered-securities
Related Tickers: SUI
TL;DR
SUN sold unregistered equity, check the details.
AI Summary
Sun Communities, Inc. filed an 8-K on April 3, 2024, reporting unregistered sales of equity securities on April 1, 2024. The filing details the company's principal executive offices located at 27777 Franklin Road, Suite 300, Southfield, Michigan, 48034, and its telephone number is (248) 208-2500.
Why It Matters
This filing indicates Sun Communities, Inc. has engaged in unregistered sales of its equity securities, which could impact its capital structure and shareholder equity.
Risk Assessment
Risk Level: medium — Unregistered sales of equity can sometimes signal dilution or a need for capital, requiring closer examination of the terms and implications.
Key Players & Entities
- Sun Communities, Inc. (company) — Registrant
- 27777 Franklin Road, Suite 300, Southfield, Michigan, 48034 (location) — Principal Executive Offices
- April 1, 2024 (date) — Date of earliest event reported
- April 3, 2024 (date) — Date of Report
FAQ
What type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities in the provided text.
Were these securities sold to the public or to specific investors?
The filing mentions 'Unregistered Sales of Equity Securities,' implying they were not sold through a public offering registered with the SEC.
What is the total dollar amount of the unregistered equity sales?
The provided text does not contain specific dollar amounts for the unregistered equity sales.
What is the purpose of these unregistered equity sales?
The filing does not disclose the specific purpose for the unregistered sales of equity securities in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported is April 1, 2024.
Filing Stats: 507 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-04-03 16:19:30
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value SUI New York Stock Exchange
- $130.9799 — "Common Units") at an issuance price of $130.9799 per unit. All of the Common Units were
Filing Documents
- sui-20240401.htm (8-K) — 24KB
- sui-20240401_g1.jpg (GRAPHIC) — 15KB
- 0000912593-24-000167.txt ( ) — 190KB
- sui-20240401.xsd (EX-101.SCH) — 2KB
- sui-20240401_lab.xml (EX-101.LAB) — 23KB
- sui-20240401_pre.xml (EX-101.PRE) — 13KB
- sui-20240401_htm.xml (XML) — 3KB
02 Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sale of Equity Securities On April 1, 2024, Sun Communities Operating Limited Partnership ("SCOLP"), the operating subsidiary of Sun Communities, Inc. (the "Company"), issued 19,326 common OP units (the "Common Units") at an issuance price of $130.9799 per unit. All of the Common Units were issued as consideration for the initial holder's contribution of certain assets to SCOLP. The issuance by SCOLP of the Common Units was made in reliance upon the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended. Each Common Unit is exchangeable at any time (subject to certain limited exceptions) at the holder's option for one share of common stock (the "Common Stock") of the Company. Notwithstanding the foregoing exchange rights, the initial holder of the Common Stock has agreed not to sell or otherwise dispose of the shares of the Common Stock issuable upon the exchange of such securities for a period of six months after April 1, 2024, subject to certain limited exceptions.
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: April 3 , 2024 By: /s/ Fernando Castro-Caratini Fernando Castro-Caratini, Executive Vice President, Chief Financial Officer, Secretary and Treasurer