CMCT logs three preferred-to-common conversions in August and September as VWAP conversion price climbs to $4.55
Three consecutive preferred stock redemptions at Creative Media & Community Trust Corporation ($CMCT, Nasdaq) produced 239,147 new common shares across August and early September 2026, per a September 4 8-K filed with the SEC. Holders of Series A and Series A1 Preferred Stock requested each round, and the Maryland-incorporated company, headquartered at 4700 Wilshire Boulevard in Los Angeles, settled all three in common equity rather than cash. The VWAP-based conversion price, set over the 20 trading days immediately preceding each redemption date as defined in the company's charter, stepped from approximately $3.98 per share on August 19 to $4.55 by September 2.
Key takeaways
- Creative Media & Community Trust Corporation ($CMCT) issued 239,147 new common shares across three preferred-to-common conversions in August and early September 2026, per a September 4 8-K.
- The VWAP-based conversion price climbed across the three events, from about $3.98 on August 19 to $4.32 on August 26 to $4.55 on September 2.
- All three redemptions were holder-initiated by Series A and Series A1 Preferred stockholders and settled in common equity rather than cash, with accrued and unpaid dividends included.
- Across the three dates, holders tendered a combined 9,061 Series A1 Preferred shares and 32,884 Series A Preferred shares into common stock.
- All three issuances were exempt unregistered transactions disclosed under Item 3.02, and CFO Brandon Hill signed the 8-K on September 4.
Three consecutive preferred stock redemptions at Creative Media & Community Trust Corporation ($CMCT, Nasdaq) produced 239,147 new common shares across August and early September 2026, per a September 4 8-K filed with the SEC. Holders of Series A and Series A1 Preferred Stock requested each round, and the Maryland-incorporated company, headquartered at 4700 Wilshire Boulevard in Los Angeles, settled all three in common equity rather than cash. The VWAP-based conversion price, set over the 20 trading days immediately preceding each redemption date as defined in the company's charter, stepped from approximately $3.98 per share on August 19 to $4.55 by September 2.
How the three tranches stacked up
The August 19 event arrived first. Creative Media & Community Trust issued 21,695 common shares for 3,460 Series A1 Preferred shares and 63,826 common shares for 10,204 Series A Preferred shares, both groups at the $3.98 reference price. The August 26 round was considerably smaller: 645 common shares settled 120 Series A1 Preferred redemptions, and 29,452 common shares covered 5,200 Series A Preferred redemptions, with the VWAP at approximately $4.32. September 2 carried the largest volume. The company issued 28,320 common shares for 5,481 Series A1 Preferred shares and 95,209 common shares for 17,480 Series A Preferred shares at approximately $4.55. Each settlement included accrued and unpaid dividends, and across all three dates, holders tendered a combined 9,061 Series A1 Preferred shares and 32,884 Series A Preferred shares into common stock.
Reading the flow
All three events were holder-initiated, a detail the 8-K makes explicit under Item 3.02. Preferred holders chose common equity over cash on three separate occasions as the reference VWAP moved higher through each successive 20-day window, from $3.98 to $4.32 to $4.55. Whether that reflects a view on the underlying common or simply a preference for share-form liquidity is not stated in the filing. None of the issuances involved a registered offering; all three were exempt unregistered transactions. CFO Brandon Hill signed the 8-K on September 4. The next disclosure to track is a follow-on 8-K if Series A or Series A1 holders continue submitting redemption requests, each carrying its own trailing 20-day VWAP conversion price.
Filed by the newsroom of MarketPR on September 7, 2026. Source: sec.gov. Indicative figures are not investment advice.