Company: CMCT
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000908311-25-000017
Chunk: 148

Company: Creative Media & Community Trust Corp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 5
Chunk 148
---
 payment, in lieu of cash, for $916,575 of asset management fees owed to the Operator under the Investment Management Agreement for the third quarter of 2022. Such securities were issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. Shares of Series A1 Preferred Stock may be redeemed at our option or at the option of the holder for a redemption price payable in cash or shares of Common Stock as described in Note 11 to the consolidated financial statements included in this Annual Report on Form 10-K. 

In December 2022, the Company announced the redemption of all outstanding shares of its Series L Preferred Stock. In January 2023, the Company completed such previously-announced redemption of all outstanding shares of its Series L Preferred Stock in cash at its stated value of $28.37 per share (plus accrued and unpaid dividends of $1.56 per share, or $4.6 million in the aggregate). The total cost to complete the Series L Redemption, including transaction costs of $93,000 (or $0.03 per share), was $83.8 million. 

During the quarter ended September 30, 2024, we redeemed, at the option of the Company, 2,589,606 shares of Series A1 Preferred Stock in shares of Common Stock, resulting in issuance of 3,297,298 shares of Common Stock. During the quarter ended September 30, 2024 and December 31, 2024, we redeemed 1,010 and 180,902 shares of Series A1 Preferred Stock in shares of Common Stock at the option of the holders, respectively, resulting in issuance of 2,590 and 1,517,599 shares of Common Stock, respectively. During the quarter ended September 30, 2024, we redeemed, at the option of the Company, 2,150,076 shares of Series A Preferred Stock in shares of Common Stock, resulting in issuance of 2,733,230 shares of Common Stock. During the quarter ended December 31, 2024, we redeemed 214,713 shares of Series A1 Preferred Stock in shares of Common Stock at the option of the holders resulting in issuance of 1,645,869 shares of Common Stock. For each of these 

57

Table of Contents

issuances, the number of shares of Common Stock issued was based on volume-weighted average price (calculated in accordance with our charter) of the