Comrit Investments Reinstates Original Expiration Date for CIM Real Estate Finance Trust Tender Offer

Comrit Investments Reinstates Original Expiration Date for CIM Real Estate Finance Trust

Comrit Investments 1, Limited Partnership has declared that it will revert to the original expiration date for its previously announced tender offer to buy shares from CIM Real Estate Finance Trust, Inc. The tender offer aims to purchase a maximum of 14,300,000 shares of common stock at a price of $3.65 per share, underlining the company's commitment to its investment strategy and shareholder engagement.

Originally, the expiration date was altered in a press release dated March 10, 2025. However, Comrit Investments has now decided to reinstate the expiration date to its scheduled mark of March 26, 2025, at 11:59 PM Eastern Time. This decision comes amidst ongoing negotiations and responses from shareholders regarding the tender offer.

As of the latest update provided in this announcement, approximately 871,924 shares have been tendered in connection with the offer, indicating a notable level of interest from shareholders in the transaction. It’s worth noting that Comrit Investments is acting independently and is not affiliated with CIM Real Estate Finance Trust. The goal remains to derive profit from the transaction while providing opportunities for shareholders to tender their shares at a favorable price point.

The CIM Real Estate Finance Trust has reported an estimated net asset value per share (NAV) of $6.09 as of January 31, 2024. This figure establishes a benchmark for shareholders who may be weighing the tender offer against the current market value of their shares. Given the tender offer's price is below the estimated NAV, shareholders are encouraged to consider whether the liquidity offered by the tender aligns with their financial strategies.

Funding for purchasing shares under this offer will come from the Purchaser's available cash. The intention of this offer is to facilitate a purchase without the objective of acquiring control over CIM Real Estate Finance Trust’s operations. It’s crucial for shareholders to understand that Comrit Investments will not extend an offering period post-expiration unless mandated by any material changes in the terms of the offer, which would require the dissemination of additional tender offer information to shareholders.

Participants in the offer should be aware that shares tendered will be irrevocable except for stipulated cancellation conditions. Should shareholders wish to withdraw their tendered shares, they must submit a formal withdrawal notice before the expiration date, clearly mentioning the details required to identify the tendering party. Shareholders tendering more shares than Comrit seeks to purchase will have their shares accepted on a pro-rata basis, ensuring a fair distribution of the purchase offer based on shareholder participation.

In order to navigate this process smoothly, all tender conditions and documentation stipulations have been made transparent in the Tender Offer Documents, which offer essential insights into the offer’s terms, tax implications, and other critical information.

As a reminder, this announcement does not constitute an offer to buy or a solicitation of sales of securities. The offer is strictly confined to the dissemination of the Offer to Purchase issued to eligible shareholders. Those residing in jurisdictions where such offers are legally restricted should consult the offer's compliance intricacies that dictate how tender offers are handled within their respective territories. For further information or copies of the Tender Offer Documents, interested parties can contact Central Trade and Transfer, LLC, or visit the specific webpage where details are provided.

In conclusion, Comrit Investments is taking a transparent approach as it reinstates its original expiration date, providing shareholders with the opportunity to assess their investment decisions thoroughly in light of the current offer. Shareholders are encouraged to stay informed and utilize the resources available to make well-informed choices regarding their holdings in CIM Real Estate Finance Trust.