CMCT effects 1-for-10 reverse stock split; issues ~1.5M common shares for preferred redemptions

Creative Media & Community Trust Corp

Reverse stock split effective Jan 6, 2025, combining every 10 common shares into 1 share; par value temporarily adjusted to $0.01, then reverted to $0.001.
On Jan 8-10, 2025, CMCT issued 1,487,073 common shares in lieu of cash for redemptions of Series A and A1 preferred stock.
Details: 20,368 shares for Series A1 on Jan 8; 83,952 Series A1 and 127,392 Series A on Jan 9; 770,035 Series A1 and 485,326 Series A on Jan 10.
Company expects to continue satisfying preferred redemption requests with common stock through Q1 2025.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Creative Media & Community Trust Corp: Effected a one-for-ten reverse stock split of common stock via two charter amendments (effective 2025-01-06).

Change: charter amendment
Effective: 2025-01-06

Exact text from the filing

Pursuant to the first Amendment, effective as of 12:01 am Eastern Standard Time on January 6, 2025 (the “Effective Time”), every ten shares of common stock, par value $0.001 per share, issued and outstanding immediately prior to the Effective Time will be automatically combined into one issued and outstanding share of common stock, par value $0.01 per share. The second Amendment, effective as of 12:02 am Eastern Standard Time on January 6, 2025, will revert the par value of the Company’s issued and outstanding common stock to $0.001 per share.

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Source: SEC EDGAR

accession 0000908311-25-000004

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