Eagle Point (NYSE: ACR) funds report sales of Series C and D preferred
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ACRES Commercial Realty Corp. reported insider activity by investment funds and accounts managed by Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC. These Applicable Accounts sold a total of 5,282 shares of preferred stock in open-market transactions.
The sales included 3,842 shares of 7.875% Series D Preferred Stock at weighted average prices around $21.80–$22.03 per share and 1,440 shares of 8.625% Series C Preferred Stock at a weighted average price around $25.08 per share. After these trades, the Applicable Accounts indirectly held 741,977 Series D preferred shares, 349,907 Series C preferred shares, and 1,177,060 common shares. The reporting entities state they may be deemed to have only an indirect pecuniary interest and expressly disclaim beneficial ownership of the reported securities.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 5,282 shares ($120,032)
Net Sell
4 txns
Insider
Eagle Point Credit Management LLC, Eagle Point DIF GP I LLC
Role
10% Owner | 10% Owner
Sold
5,282 shs ($120K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | 7.875% Series D Preferred Stock | 3,142 | $21.80 | $68K |
| Sale | 7.875% Series D Preferred Stock | 700 | $22.03 | $15K |
| Sale | 8.625% Series C Preferred Stock | 1,440 | $25.08 | $36K |
| holding | Common Stock, $0.001 par value | -- | -- | -- |
Holdings After Transaction:
7.875% Series D Preferred Stock — 741,977 shares (Indirect, See footnotes);
8.625% Series C Preferred Stock — 349,907 shares (Indirect, See footnotes);
Common Stock, $0.001 par value — 1,177,060 shares (Indirect, See footnotes)
Footnotes (1)
- 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. 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. 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. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.00 to $22.04 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. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $21.80 to $21.85 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. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $25.05 to $25.10 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.
FAQ
What insider activity did Eagle Point entities report for ACR?
Investment funds and accounts managed by Eagle Point Credit Management LLC reported open-market sales of ACR preferred shares. They sold 5,282 total preferred shares while continuing to hold large positions in both Series C and Series D preferred stock.
Which ACRES Commercial Realty (ACR) securities were sold in this Form 4?
The Applicable Accounts sold 7.875% Series D Preferred Stock and 8.625% Series C Preferred Stock. Sales totaled 3,842 Series D shares and 1,440 Series C shares in open-market transactions at disclosed weighted average price ranges.
What ACRES Commercial Realty common stock holdings are reported in this Form 4?
The filing shows that the Applicable Accounts indirectly held 1,177,060 shares of ACRES Commercial Realty common stock. This line is reported as an indirect holding entry, without an associated buy or sell transaction code in this particular Form 4 excerpt.
How were the sale prices determined for the ACR preferred stock trades?
The filing reports weighted average sale prices per share for each transaction line. It notes that the securities were sold in multiple trades within specified price ranges, and offers to provide detailed breakdowns of shares sold at each separate price upon request.