Eagle Point funds sell ACR preferred shares
ACRES Commercial Realty Corp. reported insider activity by accounts managed by Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC.
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Rhea-AI Filing Summary
ACRES Commercial Realty Corp. reported insider activity by accounts managed by Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC. These accounts sold a total of 2,591 shares of preferred stock in open-market transactions, including 8.625% Series C at $25.47 per share and 7.875% Series D at $22.55 per share.
After these sales, the accounts still indirectly hold 343,036 shares of Series C preferred, 735,576 shares of Series D preferred, and 1,177,060 shares of common stock. The reporting entities state they may be deemed to have only an indirect pecuniary interest and formally disclaim beneficial ownership of the reported securities.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | 8.625% Series C Preferred Stock | 849 | $25.47 | $22K |
| Sale | 8.625% Series C Preferred Stock | 215 | $25.47 | $5K |
| Sale | 7.875% Series D Preferred Stock | 1,521 | $22.55 | $34K |
| Sale | 8.625% Series C Preferred Stock | 6 | $25.47 | $152.82 |
| 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.
Key Figures
Key Terms
8.625% Series C Preferred Stock financial
7.875% Series D Preferred Stock financial
indirect pecuniary interest financial
beneficial ownership financial
Section 16 regulatory
FAQ
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What insider activity did Eagle Point report for ACRES Commercial Realty (ACR)?
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