other material
confidence high
sentiment neutral
materiality 0.70
CMCT issues ~60.5M common shares to redeem Series A and A1 Preferred Stock
Creative Media & Community Trust Corp
- Issued 25,950,415 common shares for Series A Preferred and 29,958,074 for Series A1 Preferred on Sep 23, 2024.
- Additional issuance on Sep 24: 1,603,419 common for Series A and 3,015,179 for Series A1.
- Total common shares issued: ~60.5M to redeem ~4.8M preferred shares (both series combined).
- Redemption price determined by 20-day VWAP of common stock prior to each redemption date.
- Issuance exempt from SEC registration under Section 3(a)(9).