Sun Communities Reports Unregistered Equity Sale
Ticker: SUI · Form: 8-K · Filed: Oct 1, 2024 · CIK: 912593
Sentiment: neutral
Topics: equity-sale, unregistered-securities
Related Tickers: SUI
TL;DR
SUN sold unregistered equity, details scarce.
AI Summary
Sun Communities, Inc. reported on September 30, 2024, an unregistered sale of equity securities. The filing does not specify the exact number of securities sold or the total dollar amount involved in this transaction.
Why It Matters
This filing indicates a transaction involving equity securities that was not registered with the SEC, which could have implications for investors regarding transparency and regulatory compliance.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate less transparency or potential regulatory scrutiny, though the specific details are not provided in this filing.
Key Players & Entities
- SUN COMMUNITIES INC (company) — Registrant
- September 30, 2024 (date) — Date of earliest event reported
- 27777 Franklin Rd. Suite 300, Southfield, Michigan 48034 (address) — Principal Executive Offices
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.
How many equity securities were sold?
The filing does not provide the number of equity securities sold.
What was the total dollar amount of the unregistered equity sale?
The filing does not disclose the total dollar amount of the transaction.
When did the unregistered sale of equity securities occur?
The earliest event reported is September 30, 2024.
Why was this sale of equity securities unregistered?
The filing does not provide a reason for the unregistered nature of the sale.
Filing Stats: 507 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-10-01 16:43:04
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value SUI New York Stock Exchange
- $129.50 — "Common Units") at an issuance price of $129.50 per unit. All of the Common Units were
Filing Documents
- sui-20240930.htm (8-K) — 24KB
- sui-20240930_g1.jpg (GRAPHIC) — 649KB
- 0000912593-24-000219.txt ( ) — 1664KB
- sui-20240930.xsd (EX-101.SCH) — 2KB
- sui-20240930_lab.xml (EX-101.LAB) — 23KB
- sui-20240930_pre.xml (EX-101.PRE) — 13KB
- sui-20240930_htm.xml (XML) — 3KB
02 Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sale of Equity Securities. On September 30, 2024, Sun Communities Operating Limited Partnership ("SCOLP"), the operating subsidiary of Sun Communities, Inc. (the "Company"), issued 243,273 common OP units (the "Common Units") at an issuance price of $129.50 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 Units 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 September 30, 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: October 1 , 2024 By: /s/ Fernando Castro-Caratini Fernando Castro-Caratini, Executive Vice President, Chief Financial Officer, Secretary and Treasurer