Form 4: Eagle Point Credit Management LLC Reports Sale of ACRES Commercial Realty Corp. Preferred Stock

Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, reported the sale of ACRES Commercial Realty Corp. preferred stock on December 19 and 20, 2024.

Summary

• Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC filed a Form 4 detailing changes in beneficial ownership of ACRES Commercial Realty Corp. securities.
• The report indicates the sale of 5,728 shares of 8.625% Series C Preferred Stock on December 19, 2024, at a price of $25.18 per share.
• Additionally, 1,021 shares of 7.875% Series D Preferred Stock were sold on the same date at $23.05 per share.
• A further 100 shares of 8.625% Series C Preferred Stock were sold on December 20, 2024, at $25.20 per share.
• Following these transactions, Eagle Point Credit Management LLC indirectly holds 428,746 shares of 8.625% Series C Preferred Stock, 899,186 shares of 7.875% Series D Preferred Stock, and 1,191,307 shares of Common Stock, $0.001 par value.
• The reporting persons disclaim beneficial ownership of the securities, stating that the inclusion of these securities in the report should not be deemed an admission of beneficial ownership.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales, with no inherent positive or negative sentiment. It simply reports transactions.

Management Comments

• Eagle Point Credit Management LLC and DIF GP disclaim beneficial ownership of the reported securities.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's securities; this filing indicates changes in Eagle Point Credit Management LLC's holdings in ACRES Commercial Realty Corp.

Stakeholder Impact

• The sale of preferred stock may have a minor impact on the market price of ACRES Commercial Realty Corp.'s securities.

Key Dates