Eagle Point funds sell ACRES preferred shares
ACRES Commercial Realty Corp. reported that private investment funds and accounts managed by Eagle Point Credit Management LLC executed an open-market sale of 1,095 shares of its 7.875% Series D Preferred Stock at a weighted average price of $22.12 per share.
Rhea-AI Filing Summary
ACRES Commercial Realty Corp. reported that private investment funds and accounts managed by Eagle Point Credit Management LLC executed an open-market sale of 1,095 shares of its 7.875% Series D Preferred Stock at a weighted average price of $22.12 per share.
After this transaction, the accounts associated with the reporting entities held 737,928 shares of the 7.875% Series D Preferred Stock, 349,907 shares of the 8.625% Series C Preferred Stock, and 1,177,060 shares of common stock indirectly. The reporting entities disclaim beneficial ownership of these securities under Section 16 rules.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | 7.875% Series D Preferred Stock | 1,095 | $22.12 | $24K |
| holding | Common Stock, $0.001 par value | -- | -- | -- |
| holding | 8.625% Series C Preferred Stock | -- | -- | -- |
Footnotes (4)
- 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.
- F4. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.02 to $22.15 per share, inclusive. Upon request by the staff of the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, the reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
Key Figures
Key Terms
indirect pecuniary interest financial
beneficial ownership financial
Rule 16a-1(a)(4) regulatory
Section 16 regulatory
weighted average price financial
FAQ
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What other ACRES (ACR) securities are reported as indirectly held?
Who actually holds the ACRES (ACR) securities referenced in the Form 4?
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