secwatch.observer — SEC 8-K summary
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Issuer:     Cottonwood Communities, Inc. (—)
CIK:        0001692951
Form:       8-K
Filed at:   2023-09-22T23:59:59+00:00
Accession:  0001692951-23-000171
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 up to 15M share Series A convertible preferred offering at $10 with 8% dividend
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- Offering up to 15M shares of Series A convertible preferred at $10/share to accredited investors, best-efforts basis.
- 8% annual cumulative dividend ($0.80/share) payable monthly; convertible to Class I common after 5 years (holder) or 2 years (company).
- Company may redeem after Sep 1, 2024 at $10 plus accrued dividends; conversion capped at 150M Class I shares.
- Managing broker dealer gets up to 6% selling commissions plus 3% placement fee; total selling expenses capped at 9% of proceeds.
- Operating partnership and advisory agreements amended to mirror preferred units and include preferred stock in NAV for management fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692951/000169295123000171/0001692951-23-000171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692951/000169295123000171/cci-20230918.htm
  HTML page:      https://secwatch.observer/filing/0001692951-23-000171

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer