Creative Media & Community Trust Corporation — Regulatory Filings 2021

Jun 29, 2021

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 25, 2021

Commission File Number 1-13610

CIM COMMERCIAL TRUST CORPORATION

(Exact name of registrant as specified in its charter)

(State or Other Jurisdiction of Incorporation or Organization) 17950 Preston Road, Suite 600, Dallas, TX 75252 (972) 349-3200

(Address of Principal Executive Offices) (Registrant's telephone number)

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, \$0.001 Par Value	CMCT	Nasdaq Global Market
Common Stock, \$0.001 Par Value	CMCT-L	Tel Aviv Stock Exchange
Series L Preferred Stock, \$0.001 Par Value	CMCTP	Nasdaq Global Market
Series L Preferred Stock, \$0.001 Par Value	CMCTP	Tel Aviv Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Maryland 75-6446078 (I.R.S. Employer Identification No.)

Item 8.01. Other Events

On June 28, 2021, CIM Commercial Trust Corporation (the "Company") closed its previously announced rights offering, which expired at 4:00 p.m., New York Time, on June 23, 2021. At the closing of the rights offering, the Company issued an aggregate of 8,521,589 shares of its common stock at the subscription price of \$9.25 per share for aggregate gross proceeds of approximately \$78.8 million. Following such closing, as of June 28, 2021, there were 23,369,331 shares of common stock of the Company issued and outstanding.

On June 25, 2021, the Company issued a press release announcing the final results of the rights offering, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit

Number Exhibit Description

99.1 Press release, dated June 25, 2021.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: June 28, 2021 By:

CIM COMMERCIAL TRUST CORPORATION

/s/ DAVID THOMPSON David Thompson Chief Executive Officer

CIM Commercial Trust Corporation Raises \$78.8 million in Rights Offering

DALLAS–June 25, 2021–CIM Commercial Trust Corporation (NASDAQ: CMCT and TASE: CMCT‑L) ("we", "our", "CMCT", "CIM Commercial", or the "Company"), announced the final results of its rights offering, which expired at 4:00 p.m., New York Time, on June 23, 2021.

The Company received subscription requests (including oversubscription requests) in respect of 8,521,589 shares of its common stock at a subscription price of \$9.25 per share. Accordingly, the Company raised aggregate gross proceeds of approximately \$78.8 million in the rights offering. The Company expects to issue the 8,521,589 shares of its common stock subscribed for in the rights offering on or about June 28, 2021.

About CIM Commercial

CIM Commercial is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the United States. Its properties are primarily located in Los Angeles and the San Francisco Bay Area. CIM Commercial is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities (www.cimcommercial.com).

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the rights offering, including statements containing the words "will," "expect," and words of similar import. For a list and description of the risks and uncertainties inherent in forward-looking statements, see the Annual Report on Form 10-K (as amended) filed by the Company in respect of the fiscal year ended December 31, 2020, and the prospectus supplement relating to the rights offering filed by the Company with the SEC on June 10, 2021. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. CIM Commercial undertakes no obligation to publicly update or release any revisions to its forward-looking statements, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise, except as required by law.

For CIM Commercial Trust Corporation

Media Relations: Karen Diehl, Diehl Communications, 310-741-9097 karen@diehlcommunications.com

or

Shareholder Relations: Steve Altebrando, 646-652-8473 shareholders@cimcommercial.com