Avraham Shemesh, a major owner of PMC Commercial Trust and a director of the company, recently disposed of 26,181,818 shares of the company. The disposals took place at $22.00 per share, on June 12, 2017. Shemesh still owns 56,088,025 shares of the company. Shemesh operates out of Los Angeles, CA. Some additional info was provided as follows:
Urban Partners II, LLC sold 26,181,818 shares of common stock to the issuer in a privately negotiated transaction. The reporting person was deemed to have a pecuniary interest in 73,928 of such shares. The reporting person's disposition was approved in accordance with Rule 16b-3(e).
The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of
these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
These shares are owned directly by Urban Partners II, LLC, CIM Service Provider, LLC and The Shemesh Family Trust. CIM Group, LLC is the sole equity member of CIM Service Provider, LLC and the sole manager of CIM Urban Partners GP, LLC, which in turn is the sole managing member of Urban Partners II, LLC. The reporting person, Richard Ressler and Shaul Kuba may be deemed to beneficially own the 55,718,648 shares owned by Urban Partners II, LLC and the 353,944 shares owned by CIM Service Provider, LLC because of their positions with CIM Group, LLC. The reporting person, the grantor of The Shemesh Family Trust, is the indirect beneficial owner of 15,613 shares through the holdings of The Shemesh Family Trust.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever PMC Commercial Trust makes a similar move, sign up!
Other recent filings from the company include the following:
Registration of securities [Section 12(b)] - Nov. 22, 2017
PMC Commercial Trust just filed a prospectus, suggesting it plans to soon issue some securities - Nov. 21, 2017
Material Modification to Rights of Security - Nov. 21, 2017
Filing under Securities Act Rules 163/433 of free writing prospectuses - Nov. 17, 2017
PMC Commercial Trust Just Received a Notice of Effectiveness - Nov. 16, 2017