---
schema_version: "secwatch.filing_event.v1"
accession: "0000908311-23-000069"
form_type: "8-K"
ticker: "CMCT"
cik: "0000908311"
company_name: "Creative Media & Community Trust Corp"
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T01:33:09.384146+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# CMCT board rejects Negari's $8.88/share bid; says affiliates with 43% stake won't sell at that price

## Summary
- Board requests Negari provide financing details after his initial proposal lacked proof of funding.
- Acquiring CMCT would require over $1B in cash to pay down debt and redeem preferred stock.
- Affiliates of CIM Group, owning 43% of shares, said they would not sell at or below NAV, which is materially above $8.88.

## SEC filing metadata
- accession: 0000908311-23-000069
- form_type: 8-K
- ticker: CMCT
- cik: 0000908311
- company_name: Creative Media & Community Trust Corp
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/908311/000090831123000069/0000908311-23-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/908311/000090831123000069/cmct-20231031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000908311-23-000069
- JSON: https://secwatch.observer/filing/0000908311-23-000069.json
- Plain text: https://secwatch.observer/filing/0000908311-23-000069.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.