CIM Real Estate Finance Trust completes $6.1B merger with CIM Income NAV; targets public listing in 2022

CIM REAL ESTATE FINANCE TRUST, INC.

Stock-for-stock merger closed Dec 16, 2021; INAV shareholders received 2.508–2.622 CMFT shares per share, an ~10.6% premium.
Combined company has ~$6.1B enterprise value and >$3.1B equity value; CMFT targeting a public market listing in 2022 subject to conditions.
Subsidiary assumed INAV's $352.5M credit facility (up to $425M) at 2.93% weighted avg rate; maturity extended to Mar 6, 2022.
Roger D. Snell, former INAV independent director, appointed to CMFT board effective at merger close.

item 1.01 item 8.01 item 2.03 item 5.02 item 9.01

Executive movements

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Appointed

Roger D. Snell

director

CMRF · CIM REAL ESTATE FINANCE TRUST, INC.

Effective: 2021-12-16
Filed: December 16, 2021, 6:59 PM ET

In connection with the Merger, effective at the effective time of the Merger, the size of the board of directors (the “Board”) of the Company was increased by one director and Roger D. Snell was elected to serve as a director of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Roger D. Snell was elected as director at CIM REAL ESTATE FINANCE TRUST, INC..

Action: elected
Role: director

Exact text from the filing

In connection with the Merger, effective at the effective time of the Merger, the size of the board of directors (the “Board”) of the Company was increased by one director and Roger D. Snell was elected to serve as a director of the Company.

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CIM REAL ESTATE FINANCE TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001498547-21-000149

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