Creative Media & Community Trust Corporation has announced plans to address redemption requests for its preferred stock by converting them into shares of common stock during 2025, when legally permissible. This approach is part of the company's regular evaluation of its asset portfolio, which may lead to asset sales that could be significant for the corporation. The company has indicated that it does not expect to fulfill these redemption requests before the release of its second-quarter financial results, anticipated in early August. This strategic move aligns with the company's efforts to manage its financial obligations effectively.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.