Eagle Point accounts sell ACR preferred shares
ACRES Commercial Realty Corp. reported that accounts managed by Eagle Point Credit Management LLC and associated entity Eagle Point DIF GP I LLC sold preferred shares in the company.
Rhea-AI Filing Summary
ACRES Commercial Realty Corp. reported that accounts managed by Eagle Point Credit Management LLC and associated entity Eagle Point DIF GP I LLC sold preferred shares in the company. The Applicable Accounts sold 409 shares of 8.625% Series C Preferred Stock at $25.2000 and 100 shares at $25.2300, and sold 273 shares of 7.875% Series D Preferred Stock at $22.2000 in open-market transactions. Following these sales, the Applicable Accounts were reported as holding 355,048 shares of the Series C Preferred Stock and 745,819 shares of the Series D Preferred Stock, and 1,177,060 shares of common stock indirectly. The reporting entities state that the securities are held by private investment funds and accounts they manage and that they disclaim beneficial ownership of the reported securities.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | 8.625% Series C Preferred Stock | 100 | $25.23 | $3K |
| Sale | 8.625% Series C Preferred Stock | 409 | $25.20 | $10K |
| Sale | 7.875% Series D Preferred Stock | 273 | $22.20 | $6K |
| holding | Common Stock, $0.001 par value | -- | -- | -- |
Footnotes (3)
- F1. The securities are directly held by certain private investment funds and/or certain accounts (the "Applicable Accounts") managed by Eagle Point Credit Management LLC ("EPCM"). Eagle Point DIF GP I LLC ("DIF GP") serves as general partner to certain Applicable Accounts.
- F2. EPCM and DIF GP could be deemed to have an "indirect pecuniary interest" (within the meaning of Rule 16a-1(a)(2)(ii) under the Securities Exchange Act of 1934) in securities reported herein.
- F3. Each of the Reporting Persons hereby disclaims beneficial ownership of the securities described in this report pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934 and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of any of the reported securities for purposes of Section 16 or for any other purpose.
FAQ
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What insider activity did ACRES Commercial Realty Corp. (ACR) report?
Which securities tied to ACR were sold by Eagle Point-managed accounts?
Who executed the ACR preferred stock sales reported in this Form 4?
Do Eagle Point entities claim beneficial ownership of the ACR securities?
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