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CIM Commercial Trust Corporation (NASDAQ: CMCT) announced that subsidiaries of CIM Group intend to increase their participation in the company's rights offering. Initially, they subscribed for approximately three million shares and now plan to subscribe for an additional three million shares, potentially totaling six million shares. This move indicates strong confidence in the rights offering and aims to bolster CMCT's capital structure, although details regarding the subscription rights exercise period remain uncertain.

CIM Commercial Trust Corporation (NASDAQ: CMCT) announced the ongoing subscription period for its rights offering, set to expire at 4:00 PM New York time on June 23, 2021. The Company also addressed a false claim from an HFZ-affiliated group, which alleged violations of securities laws regarding stock ownership limitations. CMCT refuted these claims, asserting proper compliance with SEC regulations, and declined the group's request for a waiver of ownership limits. This situation aims to protect CMCT’s shareholders and maintain transparency.

CIM Commercial Trust Corporation (NASDAQ: CMCT) has launched a rights offering for approximately $137.3 million in newly issued shares. Record date for stockholders is June 11, 2021, entitling them to one subscription right for each share owned, priced at $9.25 per share. Holders can exercise their rights fully and may over-subscribe for additional shares. The offering expires on June 23, 2021, unless extended. Affiliates of CIM Group have indicated they will fully exercise their subscription rights. B. Riley Securities is the U.S. dealer manager for the offering.

The shareholder group, led by Lionbridge Capital and including Robotti & Company and Winthrop Realty Partners, which owns approximately 6.0% of CIM Commercial Trust Corporation (CMCT), has raised concerns over significant SEC disclosure violations by CMCT. The group alleges that CMCT failed to properly disclose a purported amendment to its Charter that reduced beneficial ownership limits from 9.8% to 6.25%. This lack of disclosure has led to CMCT's ineligibility to utilize Form S-3 for its Rights Offering, raising serious governance issues and concerns over shareholder rights.

CIM Commercial Trust Corporation (CMCT) announced a quarterly cash dividend of $0.075 per common share, payable on June 30, 2021, to shareholders as of June 17, 2021. Additionally, the company declared a $0.34375 per share dividend for its Series A Preferred Stock, with payments scheduled on July 15, August 16, and September 15, 2021. For Series D Preferred Stock, the dividend is $0.353125, also payable in three installments during the same period. These dividends reflect CMCT's ongoing commitment to returning value to its shareholders.

CIM Commercial Trust Corporation (NASDAQ: CMCT) announced a rights offering aimed at raising approximately $137.3 million through newly issued common stock. The record date for shareholders is set for June 11, 2021, with subscriptions priced at $9.25 per share. This offering aims to enhance the company's capital structure and financial flexibility while allowing existing shareholders to maintain their ownership percentage. The offering is expected to expire on June 23, 2021.

The company also noted intentions of its affiliates to fully exercise their subscription rights.

CIM Commercial Trust Corporation (NASDAQ: CMCT) reported its Q1 2021 results, showing a net loss of $8.2 million, or $(0.55) per share. The same-store office portfolio was 78.6% leased, with a cash rent growth of 22.8%. Total segment net operating income decreased to $9.1 million from $11.5 million year-over-year. Hotel segment NOI fell sharply to $(0.8) million, largely due to COVID-19 impacts, while lending segment NOI improved to $2.1 million. The company declared a quarterly cash dividend of $0.0750 per share of common stock.

CIM Commercial Trust Corporation (NASDAQ: CMCT) reported its operating results for Q4 and year-end December 31, 2020. Net loss for Q4 was $8.9 million, improving from $11.6 million in Q4 2019. Annualized rent per occupied square foot increased 5.8% to $50.96. However, the same-store office portfolio was 80.3% leased, down from 87.0% a year earlier. Same-store net operating income decreased 8.9%, while cash NOI increased by 2.2%. Management anticipates growth opportunities in Austin and a recovery in Sacramento and lending operations.

On March 15, 2021, Lionbridge Capital and Robotti & Company Advisors, owning approximately 5% of CIM Commercial Trust Corporation (CMCT), sent an open letter to the Board of Directors. They urged the Board to explore strategic alternatives to maximize stockholder value, including potentially selling CMCT's assets or conducting a market check for acquisition proposals. The Stockholder Group emphasized the need for independent directors to lead the strategic review, citing conflicts of interest. They also called for an early Annual Meeting to allow stockholders to elect a Board that prioritizes their interests.