Creative Media & Community Trust Corporation
09/19/2024 | Press release | Distributed by Public on 09/19/2024 14:58
Private Placement Form 8 K
Item 3.02 Unregistered Sale of Equity Securities.
Creative Media & Community Trust Corporation (the "Company") provided notice on September 13, 2024 and September 14, 2024 of the redemption of approximately 2.2 million shares of the Company's Series A Preferred Stock, par value $0.001 and approximately 2.6 million shares of the Company's Series A1 Preferred Stock, par value $0.001. As provided for in the notices of redemption, the Company has determined to pay the redemption price in shares of common stock, $0.001 par value (the "Common Stock"). In accordance with the Company's charter, the number of shares of Common Stock to be issued will be based on the VWAP of the Common Stock for the 20 Trading Days immediately preceding the applicable redemption date (with each such term as defined in the charter). Accordingly, the total number of shares of Common Stock that will be issued in connection with the redemptions is not currently determinable. The issuance of these shares of Common Stock is, as appropriate, exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 3(a)(9) thereunder.