secwatch.observer — SEC 8-K summary
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Issuer:     Cottonwood Communities, Inc. (—)
CIK:        0001692951
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001692951-23-000120
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cottonwood Communities launches private offering of up to 1M shares of 7% Series 2023-A Preferred Stock at $10/share
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- Enters managing broker dealer agreement for best-efforts sale of up to 1,000,000 Series 2023-A preferred shares at $10.00 each.
- Preferred stock carries 7.0% cumulative annual dividend ($0.70/share), payable monthly, with mandatory redemption by Dec 31, 2027.
- Optional redemption permitted from June 30, 2024; liquidation preference of $10.00 plus accrued dividends.
- Total selling fees capped at 2.75% of proceeds; proceeds will be contributed to operating partnership for mirror preferred units.
- Articles Supplementary filed with Maryland SDAT on July 25, 2023, classifying the new series as senior to common but junior to existing preferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692951/000169295123000120/0001692951-23-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692951/000169295123000120/cci-20230725.htm
  HTML page:      https://secwatch.observer/filing/0001692951-23-000120

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