# EDGAR Filing Document

**Accession Number:** 0000910612
**File Stem:** 0000950170-23-008079
**Filing Date:** 2023-3
**Character Count:** 20805
**Document Hash:** e8d675c33a9fd16cb52b571f6b738c70
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-008079.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0000950170-23-008079

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**EFFECTIVENESS DATE**: 20230315

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CBL & ASSOCIATES PROPERTIES INC
- **CENTRAL INDEX KEY:** 0000910612
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 621545718
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270554
- **FILM NUMBER:** 23734609

**BUSINESS ADDRESS:**
- **STREET 1:** 2030 HAMILTON PLACE BVLD, SUITE 500
- **STREET 2:** CBL CENTER
- **CITY:** CHATTANOOGA
- **STATE:** TN
- **ZIP:** 37421
- **BUSINESS PHONE:** 4238550001

**MAIL ADDRESS:**
- **STREET 1:** 2030 HAMILTON PLACE BVLD, SUITE 500
- **STREET 2:** CBL CENTER
- **CITY:** CHATTANOOGA
- **STATE:** TN
- **ZIP:** 37421

**As filed with the Securities and Exchange Commission on March 15, 2023**

**Registration No. 333-_____** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form S-8**

**REGISTRATION STATEMENT**

**UNDER THE SECURITIES ACT OF 1933**

**CBL & ASSOCIATES PROPERTIES, INC.**

**(Exact name of registrant as specified in its charter)**

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| | |
|:---|:---|
| **Delaware** | **62-1545718** |
| **(State or other jurisdiction of incorporation**<br>**or organization)** | **(I.R.S. Employer**<br>**Identification No.)** |
| **CBL Center**<br>**2030 Hamilton Place Blvd., Suite 500**<br>**Chattanooga, Tennessee** | **37421-6000** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**CBL & Associates Properties, Inc. 2021 Equity Incentive Plan**

 **(Full title of the plan)**

**Stephen D. Lebovitz**

**Chief Executive Officer**

**CBL & Associates Properties, Inc.**

**2030 Hamilton Place Blvd., Suite 500**

**Chattanooga, TN 37421**

**(Name and address of agent for service)**

**(423) 855-0001**

**(Telephone number, including area code, of agent for service)**

**PLEASE SEND COPIES OF COMMUNICATIONS TO:**

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| | |
|:---|:---|
| &nbsp;&nbsp;**Steven R. Barrett, Esq.**<br>**Husch Blackwell LLP**<br>**736 Georgia Avenue, Suite 300**<br>**Chattanooga, Tennessee 37402** | &nbsp;&nbsp;**Yaacov M. Gross, Esq.**<br>**Goulston & Storrs**<br>**750 Third Avenue, 22nd Floor**<br>**New York, New York 10017** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of "large accelerated filer" "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | |
|:---|:---|
| &nbsp;&nbsp;Large accelerated filer ☐ | &nbsp;&nbsp;Accelerated filer ☒ |
| &nbsp;&nbsp;Non-accelerated filer ☐ | &nbsp;&nbsp;Smaller reporting company ☐ |
|  | &nbsp;&nbsp;Emerging growth company ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

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**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed by CBL & Associates Properties, Inc. (the "<u>Company</u>") to register 953,403 additional shares of new common stock, par value $0.001 per share (the "<u>Common Stock</u>"), of the Company, issuable to eligible officers, employees, directors, consultants and independent contractors of the Company pursuant to awards that may be granted under the CBL & Associates Properties, Inc. 2021 Equity Incentive Plan (the "<u>Equity Incentive Plan</u>"). The 953,403 additional shares of Common Stock represent shares of Common Stock issuable under the Equity Incentive Plan by operation of the "evergreen" provision contained in Section 4.1 of the Equity Incentive Plan.

This Registration Statement relates to securities of the same class as those registered on the Registration Statement on Form S-8 filed by the Company with the Securities and Exchange Commission on December 1, 2021 (File No. 333-261449) (the "<u>Prior Registration Statement</u>") and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of Additional Securities. Pursuant to General Instruction E of Form S-8, the contents of the Prior Registration Statement are incorporated herein by reference and made part of this Registration Statement, except as amended hereby.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.**

The following documents, filed with the Securities and Exchange Commission (the "<u>SEC</u>") by the Company are incorporated herein by reference:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Company's [<u>Annual Report on Form 10-K</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000095017023005470/cbl-20221231.htm) for the fiscal year ended December 31, 2022, filed on March 1, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Company's Current Reports on Form 8-K dated and filed on the following dates (in each of the following cases, excluding any portions of the current reports, exhibits thereto or information therein that are "furnished" to the SEC):

**<u>Dated</u> <u>Filed</u>**

December 31, 2022 [<u>January 3, 2023</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000095017023000026/cbl-20221231.htm)

January 25, 2023 [<u>January 25, 2023</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000095017023001180/cbl-20230125.htm)

January 26, 2023 [<u>January 27, 2023</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000095017023001301/cbl-20230126.htm)

February 15, 2023 [<u>February 21, 2023</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000095017023003430/cbl-20230215.htm)

February 15, 2023 [<u>February 22, 2023</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000095017023003692/cbl-20230215.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The description of the Company's common stock, $0.001 par value per share (the "<u>Common Stock</u>") contained in our Registration Statement on Form 8-A dated October 25, 1993, as amended by [<u>Amendment No. 1 on Form 8-A/A</u>](https://www.sec.gov/Archives/edgar/data/910612/000095012321013873/cbl-8aa_20211103.htm) dated November 3, 2021, and any amendment or report filed for the purpose of updating such description.

Any document which we file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a Post-Effective Amendment to this Registration Statement indicating that all securities offered under the Registration Statement have been sold, or deregistering all securities then remaining unsold (other than, in each case, documents or information deemed to have been furnished and not filed in accordance with SEC rules), are also incorporated herein by reference and shall be a part hereof from the date of filing of such documents.

Any statement contained in a document incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

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**ITEM 8. EXHIBITS.**

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| | |
|:---|:---|
| &nbsp;&nbsp;**Exhibit<br><u>Number</u>** | &nbsp;&nbsp; <br>**<u>Description</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 | &nbsp;&nbsp;[<u>Second Amended and Restated Certificate of Incorporation of the Company. Incorporated by reference from the Company's Current Report on Form 8-K, filed on November 2, 2021.</u>](https://www.sec.gov/Archives/edgar/data/910612/000156459021053379/cbl-ex31_295.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 | &nbsp;&nbsp;[<u>Fifth Amended and Restated Bylaws of the Company. Incorporated by reference from the Company's Annual Report on Form 10-K, filed on March 1, 2023.</u>](https://www.sec.gov/Archives/edgar/data/910612/000095017023005470/cbl-ex3_3.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 | &nbsp;&nbsp;[<u>Opinion of Husch Blackwell LLP\*</u>](cbl-ex5_1.htm) |
| &nbsp;&nbsp;23.1 | &nbsp;&nbsp;[<u>Consent of Husch Blackwell LLP (included in Exhibit 5.1)\*</u>](cbl-ex5_1.htm) |
| &nbsp;&nbsp;23.2 | &nbsp;&nbsp;[<u>Consent of Deloitte & Touche LLP\*</u>](cbl-ex23_2.htm) |
| &nbsp;&nbsp;24.1 | &nbsp;&nbsp;[<u>Power of Attorney (included in signature page of this Registration Statement)\*</u>](#poa) |
| &nbsp;&nbsp;99.1 | &nbsp;&nbsp;[<u>CBL & Associates Properties, Inc. 2021 Equity Incentive Plan. Incorporated by reference from the Company's Current Report on Form 8-K, filed on November 16, 2021.</u>](https://www.sec.gov/Archives/edgar/data/910612/000156459021057283/cbl-ex101_15.htm) |
| &nbsp;&nbsp;107 | &nbsp;&nbsp;[<u>Filing Fee Table\*</u>](cbl-exfiling_fees.htm) |

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\* Filed herewith.

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**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant, CBL & Associates Properties, Inc., certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Chattanooga, State of Tennessee, on the 15th day of March, 2023.

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| | |
|:---|:---|
| **CBL & ASSOCIATES PROPERTIES, INC.** | **CBL & ASSOCIATES PROPERTIES, INC.** |
| By: | <u>/s/ BENJAMIN W. JAENICKE</u><br>**Benjamin W. Jaenicke** <br>**Executive Vice President –**<br>**Chief Financial Officer and Treasurer** |

---

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**POWER OF ATTORNEY**

KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints David J. Contis, Stephen D. Lebovitz and Benjamin W. Jaenicke and each of them, with full power to act without the other, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:

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| | | |
|:---|:---|:---|
| **Signature**<br>| **Title** <br>| **Date**<br>|
| /s/ CHARLES B. LEBOVITZ <br>**Charles B. Lebovitz** | Director and Chairman – Emeritus  | March 15, 2023 |
| /s/ STEPHEN D. LEBOVITZ <br>**Stephen D. Lebovitz** | Director and Chief Executive Officer <br>(Principal Executive Officer) | March 15, 2023 |
| /s/ BENJAMIN W. JAENICKE <br>**Benjamin W. Jaenicke** | Executive Vice President – Chief Financial Officer and Treasurer <br>(Principal Financial and Accounting Officer) | March 15, 2023 |
| /s/ DAVID J. CONTIS <br>**David J. Contis** | Chairman of the Board | March 15, 2023 |
| /s/ MARJORIE L. BOWEN <br>**Marjorie L. Bowen** | Director | March 15, 2023 |
| /s/ DAVID M. FIELDS <br>**David M. Fields** | Director | March 15, 2023 |
| /s/ ROBERT G. GIFFORD <br>**Robert G. Gifford** | Director | March 15, 2023 |
| /s/ JEFFREY KIVITZ <br>**Jeffrey Kivitz** | Director | March 15, 2023 |

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## Ex-5

**Exhibit 5.1**

![img153982759_0.jpg](img153982759_0.jpg)

March 15, 2023

CBL & Associates Properties, Inc.

2030 Hamilton Place Blvd., Suite 500

Chattanooga, Tennessee 37421

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| | |
|:---|:---|
| **Re:** | **CBL & Associates Properties, Inc. Registration Statement on Form S-8** |

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Ladies and Gentlemen:

We have acted as counsel for CBL & Associates Properties, Inc., a Delaware corporation (the "<u>Company</u>"), in connection with the preparation of the Registration Statement on Form S-8 (the "<u>Registration Statement</u>") being filed by the Company concurrently herewith with the Securities and Exchange Commission. The Registration Statement relates to the registration under the Securities Act of 1933, as amended (the "<u>Act</u>"), of 953,403 additional shares (the "<u>Shares</u>") of the Company's common stock, par value $0.001 per share (the "<u>Common Stock</u>"), reserved for issuance pursuant to the "evergreen" provision contained in Section 4.1 of the CBL & Associates Properties, Inc. 2021 Equity Incentive Plan (the "<u>Plan</u>"). This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Act.

As counsel, we have reviewed a Good Standing Certificate with respect to the Company issued by the Secretary of State of Delaware dated as of a recent date. We have also reviewed the organizational documents of the Company, including the Second Amended and Restated Certificate of Incorporation and the Fifth Amended and Restated Bylaws as currently in effect. We have also examined copies of (i) resolutions certified by the Secretary of the Company and adopted at a joint meeting of the Board of Directors of the Company and the Company's Compensation Committee held on November 10, 2021; and (ii) the approval by the United States Bankruptcy Court for the Southern District of Texas (the "<u>Bankruptcy Court</u>") of the Plan pursuant to the Third Amended and Restated Joint Chapter 11 Plan of CBL & Associates Properties, Inc. and its Affiliated Debtors (With Technical Modifications) (as modified at Docket No. 1521, the "<u>Chapter 11 Plan</u>"). The Company has been advised by the New York Stock Exchange ("<u>NYSE</u>"), on which the Common Stock is listed, that such approval satisfies the otherwise applicable requirement for shareholder approval of the Plan pursuant to Section 303A.08 of the NYSE Listed Company Manual. As to these and other factual matters material to the opinions set forth herein we have relied upon the representations and statements of the Company in the Registration Statement and in such certificates of government officials and officers of the Company as we have deemed necessary for the purpose of the opinions expressed herein, including without limitation the Certificate of the Secretary of the Company dated as of March 15, 2023.

We have assumed the genuineness of all signatures and the authenticity of all items submitted to us as originals and the conformity with the originals of all items submitted to us as copies. We have further assumed that each award agreement setting forth the terms of each award granted pursuant to the Plan has been or will be duly authorized and validly executed and delivered by the parties thereto.

Based upon the foregoing and subject to the qualifications and limitations stated herein, we are of the opinion that, when the Registration Statement has become effective under the Act and the Shares have been issued and delivered upon payment therefor (in an aggregate amount or having an aggregate value equal to or greater than the aggregate par value of such Shares) in accordance with the Plan and any applicable award agreement, the Shares will be duly authorized, legally and validly issued, fully paid and non-assessable shares of capital stock of the Company.

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CBL & Associates Properties, Inc.

March 15, 2023

This opinion is limited to matters governed by the General Corporation Law of the State of Delaware (the "<u>Delaware Act</u>"). We express no opinion as to either the applicability or effect of the laws of any other jurisdiction. This opinion letter is limited to the matters expressly stated herein and no opinion is to be inferred or implied beyond the opinion expressly set forth herein. This opinion letter is rendered as of the date hereof, and we undertake no, and hereby disclaim, any obligation to make any inquiry after the date hereof or to advise you of any facts, circumstances, events or developments that hereafter may be brought to our attention and that may alter, affect or modify the opinions expressed herein.

We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Act, or under the rules and regulations of the Securities and Exchange Commission relating thereto.

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| |
|:---|
| Very truly yours, |
| /s/ Husch Blackwell LLP |
| **Husch blackwell LLP** |

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## Ex-23

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated March 1, 2023 relating to the financial statements of CBL & Associates Properties Inc. and subsidiaries, and the effectiveness of CBL & Associates Properties, Inc. and subsidiaries' internal control over financial reporting, appearing in the Annual Report on Form 10-K of CBL & Associates Properties, Inc. for the year ended December 31, 2022.

/s/ Deloitte & Touche LLP

Atlanta, Georgia

March 15, 2023

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## Ex-Filing

**Exhibit 107**

calculation of Filing Fees Table

Form S-8

(Form Type)

**CBL & ASSOCIATES PROPERTIES, INC.**

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Security Type** | &nbsp;&nbsp;**Security Class Title** | &nbsp;&nbsp;**Fee Calculation Rule** | &nbsp;&nbsp;**Amount Registered (1)** | &nbsp;&nbsp;**Proposed Maximum Offering <br>Price Per Share** | &nbsp;&nbsp;**Maximum Aggregate Offering Price** | &nbsp;&nbsp;**Fee Rate** | &nbsp;&nbsp;**Amount of Registration Fee** |
| &nbsp;&nbsp;Equity | &nbsp;&nbsp;Common Stock, par value $0.001 per share | &nbsp;&nbsp;457(c) and 457(h) | &nbsp;&nbsp;953403 (2) | &nbsp;&nbsp;$25.76 (3) | &nbsp;&nbsp;$24559661 | &nbsp;&nbsp;$0.0001102 | &nbsp;&nbsp;$2706.47 |
| &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;**Total Offering Amounts** |  | &nbsp;&nbsp;$24559661 |  | &nbsp;&nbsp;$2706.47 |
| &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;**Total Fee Offsets** |  |  |  | &nbsp;&nbsp;- |
| &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;**Net Fee Due** |  |  |  | &nbsp;&nbsp;$2706.47 |

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| |
|:---|
| 1. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of common stock that become issuable under CBL & Associates Properties, Inc. (the "Registrant")'s 2021 Equity Incentive Plan (the "Plan") effective as of November 1, 2021, by reason of certain corporate transactions or events, including any share dividend, share split, recapitalization or certain other transactions that result in an increase in the number of the outstanding shares of the common stock.  |
| 2. Represents shares of common stock that were added to the shares reserved for future issuance under the Plan pursuant to the "evergreen" provision in Section 4.1 of the Plan.<br>3. Estimated in accordance with Rules 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of $25.76 per share, which represents the average of the high and low sales prices of the Registrant's common stock as reported on the New York Stock Exchange on March 10, 2023<br>|

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