Form 4: Eagle Point Credit Management LLC Reports Sales 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 across multiple transactions.

Summary

• Eagle Point Credit Management LLC, along with 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 8.625% Series C Preferred Stock and 7.875% Series D Preferred Stock on November 7, 2024, November 8, 2024 and November 11, 2024.
• Sales of the 8.625% Series C Preferred Stock occurred at a weighted average price of $25 per share, with individual transactions ranging from $24.98 to $25.05.
• After the reported transactions, Eagle Point Credit Management LLC indirectly holds 482,242 shares of 8.625% Series C Preferred Stock, 918,818 shares of 7.875% Series D Preferred Stock and 1,191,307 shares of Common Stock.
• 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.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and significant shareholders.

Stakeholder Impact

• The sales of preferred stock by a significant shareholder could potentially influence the market price of the stock.
• Shareholders may be interested in the reasons behind Eagle Point Credit Management LLC's decision to sell these shares.

Key Dates