US Market News
7日前
CBL Properties Announces Significant New Leasing Activity at West County Center in St. Louis, MissouriJune 4, 2026 3:00 PM
Business Wire Additions include several high-profile retailers and The Cheesecake Factory® Today CBL Properties (NYSE:CBL) announced exciting new retailers and restaurants joining West County Center in St. Louis, MO. Construction is underway on The Cheesecake Factory, located in West County Center’s prominent Restaurant Village, and is expected to open this fall. In addition to The Cheesecake Factory, a first-to-market new restaurant concept is expected to be announced in the coming months. “The Cheesecake Factory is very pleased to be opening a restaurant at West County Center, allowing us to serve West County families and visitors,” said David Overton, founder, chairman and chief executive officer of The Cheesecake Factory Incorporated. “The Cheesecake Factory has enjoyed being a part of the greater St. Louis area since first opening there in 2002, and we look forward to being a part of the Des Peres community.” In early May, POP MART opened its first Missouri location and its first store in CBL’s portfolio at West County Center. Known for its iconic designer toy characters, limited editions, and unexpected collaborations, POP MART is one of the hottest brands in the world, and a significant driver of Gen-Z and Gen-Alpha mall traffic. “With more than 7.1 million annual visitors, 98% occupancy and sales just under $900 per square foot, West County Center is one of CBL’s top properties, and recent leasing activity underscores its dominant position in the broader St. Louis market,” said Stephen Lebovitz, chief executive officer, CBL Properties. “The addition of The Cheesecake Factory and so many exciting, new retailers over the next few months will only enhance West County’s position in the market.” In addition to the recent openings of POP MART and Foot Locker, several other retailers, including Levi’s, L’Occitane, Perfumania, and Urban Outfitters will celebrate their grand openings this year. Two existing retailers, American Eagle Outfitters and Victoria’s Secret, are investing in their stores at West County Center through renovations that are also set to debut later this year. About CBL Properties Headquartered in Chattanooga, Tennessee, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 55.6 million square feet across 23 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com. CBL_Prop View source version on businesswire.com: https://www.businesswire.com/news/home/20260604421570/en/ Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com Media Contact: Stacey Keating, Vice President– Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com Original: CBL Properties Announces Significant New Leasing Activity at West County Center in St. Louis, Missouri
US Market News
2週前
CBL Properties Announces $71.9 Million Non-Recourse Loan Secured by Hamilton Place in Chattanooga, TNMay 29, 2026 2:25 PM
Business Wire CBL Properties (NYSE: CBL) announced today that it closed a $71.9 million non-recourse loan secured by Hamilton Place in Chattanooga, Tennessee. The five-year loan bears a fixed interest rate of 6.8% and replaces the property’s existing $85.5 million loan, which was scheduled to mature in June. “Hamilton Place is a core asset within our portfolio, and this financing, along with the more than $1.5 billion in financing activity completed over the past year, highlights our continued ability to access attractively priced capital,” said Ben Jaenicke, Executive Vice President and Chief Financial Officer of CBL Properties. “In 2026, we have made significant progress extending our maturity profile while enhancing free cash flow through improved debt structures. This transaction builds on that momentum and further strengthens our ability to create long-term value for our shareholders.” About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 87 properties totaling 55.1 million square feet across 23 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 20 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com. Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties. CBL_Corp View source version on businesswire.com: https://www.businesswire.com/news/home/20260529729377/en/ Investor Contact:
Katie Reinsmidt,
Executive Vice President & Chief Operating Officer
423.490.8301
Katie.Reinsmidt@cblproperties.com Original: CBL Properties Announces $71.9 Million Non-Recourse Loan Secured by Hamilton Place in Chattanooga, TN
US Market News
2週前
CBL Properties Closes $78.5 Million Sale of Hammock Landing in West Melbourne, FLMay 27, 2026 9:35 AM
Business Wire CBL Properties (NYSE:CBL) announced today that, along with its joint venture partner, it has closed on the sale of Hammock Landing, a 397,000 square-foot open-air center in West Melbourne, FL, for $78.5 million, including the assumption of the $43.8 million loan. The sales of Hammock Landing, along with the first quarter sale of related infrastructure bonds, generate approximately $26 million of cash proceeds to CBL. “The sale of Hammock Landing at an 8% cap rate further validates the value within CBL’s open-air portfolio,” commented Stephen D. Lebovitz, CBL’s Chief Executive Officer. “The transaction provides an attractive source of equity and advances our capital recycling strategy as we redeploy proceeds into higher-yielding opportunities. Notably, the proceeds from Hammock Landing effectively matched the equity required to acquire Gateway Mall earlier this year.” About CBL Properties Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 87 properties totaling 55.1 million square feet across 23 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 20 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com. Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties. CBL_Corp View source version on businesswire.com: https://www.businesswire.com/news/home/20260527186196/en/ Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com Original: CBL Properties Closes $78.5 Million Sale of Hammock Landing in West Melbourne, FL
US Market News
1月前
CBL Properties Announces New $97.5 Million Loan Secured by Fayette Mall in Lexington, KYMay 1, 2026 11:25 AM
Business Wire
CBL Properties (NYSE:CBL) announced today that it has completed the refinancing of Fayette Mall, a dominant super-regional enclosed mall located in Lexington, Kentucky. The financing replaces the existing $98.6 million loan with a new $97.5 million, five-year non-recourse CMBS loan with a fixed interest rate of approximately 7.25%. The new loan’s more favorable amortization structure results in approximately $5.0 million in additional cash flow to CBL.
“This refinancing underscores the strength and attractiveness of high-quality retail real estate in the capital markets and reflects lender confidence in Fayette Mall’s performance and long-term outlook,” said Ben Jaenicke, CBL’s EVP - Chief Financial Officer. “We continue to make significant progress addressing upcoming maturities through disciplined, non-recourse, asset-level financing that improves our cash flows and creates flexibility in our capital structure. Our maturity profile in 2027 and beyond is well-laddered with modest near-term maturities.”
Fayette Mall is one of CBL’s flagship assets and benefits from strong tenant demand, solid operating fundamentals, and its position as the leading retail destination in the Lexington market.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 55.6 million square feet across 23 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.
CBL_Corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20260501800207/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Original: CBL Properties Announces New $97.5 Million Loan Secured by Fayette Mall in Lexington, KY
US Market News
2月前
CBL Properties Closes $176 Million Non-Recourse FinancingMarch 27, 2026 4:20 PM
Business Wire
Transaction Completes Refinancing of Former $634 Million Secured Term Loan and Advances Balance Sheet Strategy
CBL Properties (NYSE:CBL) today announced that it has closed on a $176 million floating-rate, non-recourse loan secured primarily by a pool of three lifestyle and open-air centers. The financing represents the second and final component of the Company’s refinancing of its former $634 million secured term loan.
The new loan with Beal Bank USA is secured by Mayfaire Town Center (Wilmington, NC), Pearland Town Center (Pearland, TX), Southaven Town Center (Southaven, MS), and East Towne Mall (Madison, WI), all of which served as collateral under the prior term loan. The loan carries a five-year term, includes two one-year extension options, and is interest-only with a floating interest rate of SOFR + 410 basis points.
“The closing of this $176 million loan completes a transformative refinancing strategy that significantly improves our balance sheet and long-term financial outlook,” said Ben Jaenicke, EVP – Chief Financial Officer. “The strong lender engagement, attractive terms, and interest-only structure underscore the quality of our assets and our disciplined execution. With the completion of this loan, we have extended our maturity profile and improved the flexibility of our capital structure as we continue executing our long-term strategy.”
The transaction follows the Company’s previously announced closing of a $425 million non-recourse financing secured by a pool of enclosed mall assets. Together, the two financings complete the refinancing of the former secured term loan, extending the maturity by five years to 2031, enhancing CBL’s liquidity with a more than $30 million estimated annual improvement in free cash flow and reducing overall debt by more than $33 million. Following the close, CBL’s estimated cash balance stands at more than $291 million.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 55.6 million square feet across 23 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.
CBL_Corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20260327482868/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Original: CBL Properties Closes $176 Million Non-Recourse Financing
US Market News
3月前
CBL Properties Announces Over $600 Million in Landmark Financing TransactionsMarch 13, 2026 4:15 PM
Business Wire
Refinancing of Secured Term Loan Expected to Drive More than $30 Million Improvement in Free Cash Flow
CBL Properties (NYSE: CBL) today announced that it has successfully refinanced its existing $634 million term loan through two complementary transactions. Today, CBL closed on a $425 million non-recourse financing secured by a pool of primarily mall properties. In addition, CBL anticipates closing shortly on a $176 million floating-rate bank loan primarily secured by a pool of strong open-air lifestyle centers. The new $425 million financing represents the first enclosed regional mall execution of its kind completed in the sector in many years, signaling renewed capital-markets confidence in quality market-dominant enclosed malls. Although the final maturity of the original term loan was November 2027, refinancing early enables the Company to secure more favorable amortization structures, increasing estimated annual free cash flow by more than $30 million.
“This transformative financing strengthens our balance sheet, reduces overall debt by $33 million, extends our maturity profile, and provides meaningful flexibility as we execute our long-term strategy,” said Ben Jaenicke, EVP – Chief Financial Officer. “The strong lender response and favorable terms reflect increasing confidence in our portfolio and our disciplined operating strategy. With a significantly improved free cash flow profile due to the more conventional amortization structure under the new loans, CBL is well-positioned to pursue value-enhancing investments and deliver additional returns to shareholders.”
The Company obtained $425 million of non-recourse financing with a five-year term maturing in 2031 and a fixed rate of 7.40%. The loan is secured by a pool of primarily mall properties that previously served as collateral for the term loan including: Cherryvale Mall (Rockford, IL), Frontier Mall (Cheyenne, WY), Hanes Mall (Winston-Salem, NC), Kirkwood Mall (Bismarck, ND), Mall Del Norte (Laredo, TX), Post Oak Mall (College Station, TX), Richland Mall (Waco, TX), Sunrise Mall (Brownsville, TX), Turtle Creek Mall (Hattiesburg, MS), Valley View Mall (Roanoke, VA), West Towne Mall (Madison, WI), and Westmoreland Mall and Westmoreland Crossing (Greensburg, PA). Northgate Mall (Chattanooga, TN), will be unencumbered through the refinancing, providing flexibility for future redevelopment.
The Company also anticipates closing shortly on a $176 million floating-rate, non-recourse loan secured by Mayfaire Town Center (Wilmington, NC), Pearland Town Center (Pearland, TX), Southaven Town Center (Southaven, MS) and East Towne Mall (Madison, WI). The properties also previously served as collateral for the term loan. The facility carries a five-year term with two one-year extension options and is interest-only with an interest rate of SOFR + 410 basis points.
After incorporating the impact of these transactions, the Company is revising its full-year 2026 amortization guidance to a range of $58–$63 million.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 55.6 million square feet across 23 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.
CBL_Corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20260313370184/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Original: CBL Properties Announces Over $600 Million in Landmark Financing Transactions
US Market News
3月前
CBL Properties Announces Acquisition of Gateway Mall in Lincoln, NE and Sale of Open-Air CenterMarch 5, 2026 4:15 PM
Business Wire
CBL Properties (NYSE:CBL) today announced two significant transactions that advance the company’s strategic focus on accretively growing its mall portfolio and increasing cash flow through capital recycling.
CBL has completed the acquisition of Gateway Mall, a market-dominant enclosed shopping center located in Lincoln, Nebraska, for a purchase price of $43.5 million from Washington Prime Group (WPG). The acquisition of Gateway Mall was financed through a $21.0 million non-recourse, five-year loan provided by Symetra Life Insurance Company. The loan carries a fixed interest rate of 6.46%.
In a separate transaction, CBL has entered into a firm contract for the sale of an open-air center at an approximately 8% capitalization rate. The transaction is expected to generate net proceeds after debt repayment of $25 million, with an anticipated close in April.
“Gateway Mall is a high-performing, well-located asset in a dynamic and growing market,” said Stephen D. Lebovitz, CEO of CBL Properties. “This acquisition was accomplished at attractive pricing and aligns with our strategy to pursue high-yield enclosed mall opportunities where our operating expertise and capital discipline can drive long-term value. In addition, the pending sale of another open-air center at an attractive cap rate demonstrates our ongoing progress in recycling capital from stabilized assets into new investments that are accretive to our cash flow yield and support our long-term growth. We look forward to enhancing the customer experience and strengthening the property’s position as a dominant retail destination for Lincoln and the broader region. Gateway Mall is a natural addition to our portfolio and complements our purchase last year of four market dominant malls, also from WPG.”
About Gateway Mall
Gateway Mall is the dominant enclosed regional shopping center located in Lincoln, Nebraska, serving a trade area of more than 1.3 million residents. The property encompasses approximately 843,000 square feet and features strong small-shop occupancy of more than 95%. As the only enclosed mall in the region, Gateway Mall benefits from its prime location just three miles from the University of Nebraska - Lincoln and its proximity to major governmental, educational, healthcare, and technology employers.
The center is anchored by a diverse lineup of national retailers, including Dillard’s, JCPenney, Dick’s Sporting Goods, Round 1, H&M, ULTA, Ross Dress for Less, Sierra, Tesla, and Total Wine & More as well as more than 215,000-square-feet of shops and restaurants. With a longstanding position as Lincoln’s primary enclosed retail destination, Gateway Mall plays a critical role in the region’s shopping, dining, and entertainment landscape.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 55.6 million square feet across 23 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.
CBL_Corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20260305130848/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Vice President– Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com
Original: CBL Properties Announces Acquisition of Gateway Mall in Lincoln, NE and Sale of Open-Air Center
US Market News
4月前
CBL Properties Declares First Quarter Regular Cash DividendFebruary 11, 2026 4:15 PM
Business Wire
CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a regular cash dividend of $0.45 per common share for the quarter ending March 31, 2026. The dividend is payable on March 31, 2026, to shareholders of record as of March 17, 2026.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 53.9 million square feet across 22 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including without limitation the Company’s Annual Report on Form 10-K and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included therein, for a discussion of such risks and uncertainties.
CBL_Corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20260211238324/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Original: CBL Properties Declares First Quarter Regular Cash Dividend
US Market News
4月前
CBL Properties Announces Tax Reporting Information for 2025 Common Stock DividendsJanuary 26, 2026 5:15 PM
Business Wire
CBL Properties (NYSE:CBL) today announced tax reporting (Federal 1099) information for the 2025 distributions on its Common stock.
The following table summarizes the nature of these cash distributions per share and provides the appropriate Form 1099-DIV box number:
CBL & Associates Properties, Inc., Common Stock
CUSIP# 124830-878
NYSE: CBL
Record
Date
Payable
Date
Distribution Per Share
2025 Ordinary Dividends (Box 1a)
2025
Capital Gain Distribution (Box 2a)
2025
Non-Dividend Distribution
(Box 3)
Section 199A Dividends (Box 5) (1)
03/13/2025
03/31/2025
$0.40
$0.3543314
$0.0008576
$0.0448110
$0.3543314
03/13/2025
03/31/2025
$0.80
$0.7086629
$0.0017150
$0.0896221
$0.7086629
06/13/2025
06/30/2025
$0.40
$0.3543314
$0.0008575
$0.0448111
$0.3543314
09/15/2025
09/30/2025
$0.45
$0.4021292
$0.0009732
$0.0468976
$0.4021292
11/25/2025
12/11/2025
$0.45
$0.3383775
$0.0460857
$0.0655368
$0.3383775
Totals
$2.50
$2.1578324
$0.0504890
$0.2916786
$2.1578439
Percentage
86.313%
2.020%
11.667%
86.313%
(1)
Under Section 199A, REIT dividends are eligible for a 20% deduction when received by eligible taxpayers. Please consult your tax advisor for proper tax treatment of the dividend distribution. These amounts are a subset of, and included in, the amounts in Box 1a.
No Alternative Minimum Taxable Income adjustment is included in the current year for the recipients of the above distributions.
Section 1061 Disclosure
Pursuant to Treas. Reg. § 1.1061-6(c), CBL Properties is disclosing below two additional amounts related to the capital gain dividends reported in Form 1099-DIV Box 2a, Total Capital Gain Distr. for purposes of section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests”.
Record
Date
Payable
Date
Section 1061 One-Year Amount Disclosure Per Share (1)
Section 1061 Three-Year Amount Disclosure Per Share (1)
03/13/2025
03/31/2025
$0.0008576
$0.0008576
03/13/2025
03/31/2025
$0.0017150
$0.0017150
06/13/2025
06/30/2025
$0.0008575
$0.0008575
09/15/2025
09/30/2025
$0.0009732
$0.0009732
11/25/2025
12/11/2025
$0.0460857
$0.0460857
Totals
$0.0504890
$0.0504890
(1)
Represents the amount per share to be reported in Box 2a applicable to the One-Year and Three-Year amounts.
Supplementary Information for Non-U.S. Shareholders:
Record
Date
Payable
Date
Section 897 Ordinary Dividends (Box 2e) (1)
Section 897 Capital Gain (Box 2f) (1)
03/13/2025
03/31/2025
$0.0740375
$0.0008576
03/13/2025
03/31/2025
$0.1480750
$0.0017150
06/13/2025
06/30/2025
$0.0000000
$0.0008575
09/15/2025
09/30/2025
$0.0000000
$0.0009732
11/25/2025
12/11/2025
$0.3383775
$0.0460857
Totals
$0.5604900
$0.0504890
(1)
Represent the amount per share to be reported in Box 2e and 2f on Form 1099-DIV.
This information represents FINAL income allocations.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 88 properties totaling 53.9 million square feet across 22 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 25 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K, and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" included therein, for a discussion of such risks and uncertainties.
CBL_CORP
View source version on businesswire.com: https://www.businesswire.com/news/home/20260126621148/en/
Investor Contact: Katie Reinsmidt, EVP & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Original: CBL Properties Announces Tax Reporting Information for 2025 Common Stock Dividends
Enterprising Investor
4年前
CBL Properties Declares Special Common Stock Dividend of $2.20 Per Common Share, Payable All in Cash (11/29/22)
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a special dividend of $2.20 per share of common stock, payable all in cash. The Special Dividend is payable on January 18, 2023, to stockholders of record as of the close of business on December 12, 2022. The special dividend equates to an aggregate cash amount of approximately $70.0 million.
“We are pleased to further demonstrate our commitment to creating and returning stockholder value through this special all cash dividend,” said Stephen D. Lebovitz, chief executive officer of CBL Properties. “Through regular and special dividends, CBL will have distributed $2.95 per share for 2022, representing a yield of more than 10.1% to stockholders relative to today’s closing price, demonstrating meaningful return of value.”
Lebovitz added, “Management and the Board carefully considered CBL’s strong performance to-date in 2022, stable and flexible balance sheet, significant generation of free cash flow and current cash balance, in determining to pay the special dividend in all cash.”
In order to ensure that the Company maintains its status as a real estate investment trust, the Company must distribute at least 90% of its “real estate investment trust taxable income” each year. A special dividend is being made to meet this minimum distribution requirement.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 94 properties totaling 58.5 million square feet across 22 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20221129006089/en/
Enterprising Investor
4年前
CBL Properties Adopts a Limited Duration Stockholder Protection Rights Agreement (9/08/22)
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) (“CBL” or the “Company”) announced that its Board of Directors today adopted a Stockholder Protection Rights Agreement (“Rights Agreement”) and declared a dividend of one right on each outstanding share of CBL common stock. The record date to determine stockholders entitled to receive the rights is September 22, 2022.
The adoption of the Rights Agreement is intended to protect the long-term interests of CBL and all CBL shareholders and enable them to realize the full potential value of their investment in the Company. The Rights Agreement is designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over, CBL, through the open-market accumulation of the Company’s shares, private purchases or otherwise, without appropriately compensating all CBL shareholders for control at a full and fair price in a transaction that is in the best interests of the Company and its stockholders.
“We have made significant strategic and operational progress since emerging from bankruptcy in November 2021,” stated Stephen Lebovitz, chief executive officer of CBL. “In ten months, we completed a number of major transactions that have substantially enhanced our balance sheet strength and flexibility, including the refinance of higher rate secured notes generating meaningful interest savings, and the completion of beneficial property-level refinancings. These transactions and ongoing operational improvements have resulted in our portfolio generating strong cash flow, which has led to shareholder returns through the implementation of a regular quarterly cash dividend.”
Lebovitz continued, “As we approach the one-year anniversary of our emergence, we are continuing to develop long-term business strategies to further financial and operational improvements, create value across our portfolio and generate ongoing returns for our shareholders.”
If any person or group acquires beneficial ownership (as defined in the Rights Agreement) of 10% or more of the Company’s outstanding common stock or, in the case of persons or groups owning 10% or more of CBL’s common stock on the date of adoption of the Rights Agreement (including Canyon Capital Advisors, Oaktree Capital Management and Strategic Value Partners), increases their beneficial ownership, the rights will allow stockholders other than the person or group crossing that limit to purchase CBL common stock at a discount.
Mr. Lebovitz stated that “the Rights Agreement is not intended to preclude discussions or engagement with parties regarding value-creation opportunities for CBL. Furthermore, it will ensure that the Board and Management can properly evaluate and implement business and operational strategies that maximize value for all of CBL’s shareholders.”
The Rights Agreement does not contain any dead-hand, slow-hand, no-hand or similar feature that would limit the ability of a future Board to redeem the rights at any time before a person or group crosses the 10% threshold.
The Rights Agreement will automatically expire in one year, on September 8, 2023.
Stockholders are not required to take any action to receive the rights distribution. Until the rights become exercisable, they will trade with the shares of the Company’s common stock. The Rights Agreement will not have any impact on the reported earnings per share of the Company and will not change the manner in which the Company’s common stock is currently traded. Issuance of the rights is not taxable to CBL or its stockholders.
CBL is a publicly held company whose shares are listed on the New York Stock Exchange under the ticker symbol CBL.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20220908006059/en/
Enterprising Investor
4年前
Jeffrey Kivitz is a Partner with Canyon Partners, LLC.
Kivitz resign as a director of the Company if he ceases to be employed with Canyon.
The interests of Canyon Capital Advisors LLC, an affiliate of Canyon, and certain of its related parties, in transactions related to the Company’s voluntary reorganization under Chapter 11 of the United States Bankruptcy Code, beneficially own an aggregate of 8,396,293 shares of common stock (representing approximately 26.4%). Subsequent to the date of the 2022 Proxy Statement and effective as of June 7, 2022, the Company redeemed all of its outstanding 10% Senior Secured Notes due 2029, which resulted in aggregate cash payments of $79,399,768 to Canyon Capital Advisors LLC and its related parties (as described in the 2022 Proxy Statement) related to their pro rata share of the Senior Secured Notes that were redeemed.
https://www.sec.gov/ix?doc=/Archives/edgar/data/910612/000156459022028953/cbl-8k_20220810.htm
Enterprising Investor
4年前
CBL Properties Welcomes Jeff Kivitz to Its Board of Directors (8/10/22)
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) today announced that Jeff Kivitz has been appointed to the company’s board of directors. Mr. Kivitz was also appointed to serve as a member of the company’s compensation committee and nominating/corporate governance committee.
“Jeff brings great experience to CBL’s board of directors,” said Stephen D. Lebovitz, chief executive officer. “We have had the opportunity to get to know and work with Jeff through CBL’s restructuring and since emergence through his role at Canyon Partners, CBL’s current top shareholder. His extensive investment experience will be important as we continue our focus on maximizing value for our shareholders.”
Mr. Kivitz is a Partner with Canyon Partners, LLC. He is responsible for the firm’s investments in companies across the REIT, technology, software, building product, and retail sectors. Prior to joining Canyon, Mr. Kivitz worked as a consultant in both the private equity and general consulting practices at Bain & Company, where he acted as an advisor on buyout and corporate strategy. Mr. Kivitz graduated cum laude from Williams College (B.A., Economics).
About Canyon Partners LLC
Founded and partner owned since 1990, Canyon is a global alternative investment manager with eight offices worldwide. The firm employs a deep value, credit intensive approach with a focus on special situations and other complex investments. Canyon’s strategies encompass a broad range of asset classes, including specialty financings, distressed investments, corporate bonds, securitized assets, real estate, arbitrage, and value equities. For more information visit: www.canyonpartners.com
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20220810005528/en/
Enterprising Investor
4年前
CBL Properties Declares Third Quarter Common Stock Dividend (8/10/22)
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that its board of directors has declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending September 30, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on September 30, 2022, to shareholders of record as of September 15, 2022.
Special Dividends - Update
Based on updated projections of taxable income for the twelve months ended December 31, 2022, CBL expects to distribute a special one-time dividend in the range of $75 to $100 million to meet minimum distribution requirements. The exact amount of the special dividend will be determined by CBL’s board of directors in the fourth quarter and will be subject to the board’s ongoing review of the company’s financial performance over the remainder of the year in relation to current projections. Subject to IRS guidelines, the special dividend may be distributed in all cash or in a combination of cash and common stock, as determined at the time by CBL’s board of directors.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20220810005635/en/
Enterprising Investor
4年前
CBL Properties Establishes Regular Quarterly Common Stock Dividend (6/30/22)
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that its Board of Directors has established a regular quarterly cash dividend. The Board of Directors declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending June 30, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on July 20, 2022, to shareholders of record as of July 11, 2022.
“It is an important milestone for CBL to reestablish a regular quarterly cash dividend,” said Stephen Lebovitz, chief executive officer. “Our strong operating performance and recent attractive financing activity have further enhanced our substantial cash flow generation and contributed to a cash position of over $335 million as of March 31. We are pleased to share this success through this cash distribution, which is the first step in a broader plan to create and return value to our shareholders.”
Future Regular and Special Dividends
CBL anticipates paying out the minimum distribution (at least 90% of taxable income) required to maintain its status as a Real Estate Investment Trust (REIT). CBL currently expects to pay regular quarterly dividends for the third and fourth quarters of 2022 in addition to the second quarter dividend declared today.
In addition, based on current projections of taxable income for the twelve months ended December 31, 2022, CBL currently expects to distribute a special one-time dividend in the range of $75 to $125 million to meet minimum distribution requirements. The exact amount of the special dividend will be determined by CBL’s Board of Directors in the fourth quarter and will be subject to the Board’s ongoing review of the Company’s financial performance over the remainder of the year in relation to current projections. Subject to IRS guidelines, the special dividend may be distributed in all cash or in a combination of cash and common stock, as determined at the time by CBL’s Board of Directors.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20220630005860/en/
Enterprising Investor
4年前
CBL Properties Announces Full Redemption of 10% Senior Secured Notes Utilizing Proceeds From a New $360 Million Non-Recourse Secured Financing (5/27/22)
Eliminates Corporate Guaranty
Generates Interest Savings and Improved Free Cash Flow
Creates Significant Unencumbered Pool
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE: CBL) today announced the planned redemption of all $335.0 million outstanding 10% Senior Secured Notes. CBL will fund the redemption utilizing proceeds from a new $360.0 million non-recourse loan to be secured by a pool of high-quality outparcels and open-air centers.
“This new financing is a major milestone in the strengthening of CBL and our balance sheet,” said Stephen Lebovitz, chief executive officer, CBL Properties. “It is the latest in a number of recent financings to validate the tremendous value of our company and our portfolio.”
Lebovitz added, “Following the redemption of the remaining outstanding 10% Notes, the corporate guaranty is eliminated, free cash flow is improved through a reduction in interest expense, and we will have more than $75 million in estimated unencumbered NOI, providing meaningful future financial flexibility. With more than $335 million of cash on hand at first quarter-end and considerable ongoing generation of free cash flow from operations, we are extremely well-positioned to pursue opportunities that will return excellent value to our shareholders.”
Today, the Company’s wholly owned subsidiary, CBL & Associates Holdco II, LLC (the “Issuer”) delivered a conditional notice of redemption to holders of its 10% Senior Secured Notes due 2029 (the “10% Notes”), pursuant to the terms of the indenture governing the 10% Notes, to redeem the remaining $335.0 million aggregate principal amount of 10% Notes (the “Redemption”) on June 7, 2022. The Redemption is conditioned upon the receipt by the Issuer of net cash proceeds from the new financing. There can be no assurances as to when or if such condition will be satisfied and the Issuer may waive the condition at its discretion.
The new loan will be provided by an institutional lender. It will be secured by a pool of 91 outparcels located across CBL’s portfolio and 13 open-air centers. The open-air centers include Alamance Crossing West in Burlington, NC, Coolspring Crossing and The Courtyard at Hickory Hollow in Nashville, TN, Frontier Square in Cheyenne, WY, Gunbarrel Pointe in Chattanooga, TN, Harford Mall Annex in Bel Aire, MD, The Plaza at Fayette in Lexington, KY, Sunrise Commons in Brownsville, TX, The Shoppes at St. Clair in Fairview Heights, IL, The Landing at Arbor Place in Atlanta, GA, West Towne Crossing and West Towne District in Madison, WI, and Westgate Crossing in Spartanburg, SC.
Terms of the loan will be announced upon closing, which is expected on or around June 7, 2022, subject to completion of customary due diligence and documentation.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
Moelis & Company LLC acted as Exclusive Placement Agent to CBL on the transaction.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20220527005293/en/CBL-Properties-Announces-Full-Redemption-of-10-Senior-Secured-Notes-Utilizing-Proceeds-From-a-New-360-Million-Non-Recourse-Secured-Financing
Enterprising Investor
5年前
CBL Properties Generates $13.75 Million From Recently Closed Asset Sales (10/11/21)
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (OTCMKTS:CBLAQ) today announced that it closed on two strategic asset sales generating gross proceeds of approximately $13.75 million.
The Company has closed the sale of the former Sears building at Harford Mall in Bel Air, Maryland to SJC Ventures, generating $5.0 million of gross proceeds. SJC Ventures plans to utilize the land for a future grocery-anchored redevelopment.
“The redevelopment of Harford Mall’s former Sears building by SJC Ventures will attract considerable new traffic and activity to Harford Mall, positioning the property for an even greater transformation,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Harford Mall enjoys a prime location with strong demographics and represents a tremendous opportunity to attract new uses and create additional value.”
CBL also closed on the sale of its 64 residential units at Pearland Town Center in Pearland, Texas, generating gross proceeds of $8.75 million to an institutional buyer. The units were developed as part of the original mixed-use project, which opened in 2008. The transaction takes advantage of the favorable demand for multi-family assets and is an attractive monetization of CBL’s investment.
Lebovitz added, “Year-to-date we have completed over $35 million in asset sales, which demonstrates the considerable value embedded in our portfolio. These sales supplement our strong cash position and provides capital for profitable future growth opportunities.”
About SJC Ventures
Founded in 2007, SJC Ventures, formerly S.J. Collins Enterprises, is a privately held, mixed-use commercial real estate and retail development firm. The company has acquired and developed more than 60 retail, mixed-use, multifamily and office projects throughout the continental U.S. The company is headquartered in Georgia. For more information, visit www.sjcventures.com.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 105 properties totaling 63.9 million square feet across 24 states, including 63 high-quality enclosed, outlet and open-air retail centers and six properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
https://www.businesswire.com/news/home/20211011005063/en/CBL-Properties-Generates-13.75-Million-From-Recently-Closed-Asset-Sales
Enterprising Investor
5年前
CBL Properties Announces Confirmation of Its Plan of Reorganization (8/11/21)
CBL’s Plan Received Over 95% Support From All Voting Constituencies
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (OTCMKTS: CBLAQ) today announced that on August 11, 2021, the United States Bankruptcy Court for the Southern District of Texas entered an order approving the Company’s Plan of Reorganization (the “Plan”). As previously announced, on November 1, 2020, CBL filed petitions in the Bankruptcy Court for voluntary relief under Chapter 11 of Title 11 of the United States Bankruptcy Code. CBL received overwhelming support for the Plan, with over 95% of votes cast for all classes voted in favor of the Plan’s confirmation. The effective date of the plan is expected to be November 1, 2021.
“This confirmation is a huge milestone for CBL,” said Stephen D. Lebovitz, Chief Executive Officer of CBL. “After months of hard work and collaborative negotiation, we are thrilled to receive such unprecedented support of our plan from every creditor group, as well as preferred and common equity. This plan provides a favorable recovery to every constituency and a strong path forward for our company and our business. Over the next few months, we will be working to close these complex transactions and will emerge on November 1st as a reenergized company with a bright future and flexible capital structure.”
As confirmed, the Plan calls for restructuring the Company’s balance sheet to provide for the elimination of more than $1.6 billion of debt and preferred obligations as well as a significant reduction in interest expense. In exchange for their approximately $1.375 billion in principal amount of Unsecured Notes and $133 million in principal amount of the secured credit facility, Consenting Noteholders and other noteholders will receive, in the aggregate, $95 million in cash, $555 million of new senior secured notes, of which up to $100 million, upon election by the Consenting Noteholders, may be received in the form of new convertible secured notes and 89% in common equity of the newly reorganized Company. Certain Consenting Noteholders will also provide up to $50 million of new money in exchange for additional convertible secured notes. The remaining Bank Lenders, holding $983.7 million in principal amount under the secured credit facility, will receive $100 million in cash and a new $883.7 million secured term loan. Existing common and preferred stakeholders are expected to receive up to 11% of common equity in the newly reorganized company.
The latest information on CBL’s restructuring, including news and frequently asked questions, can be found at cblproperties.com/restructuring or https://dm.epiq11.com/case/cblproperties/info.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 105 properties totaling 63.9 million square feet across 24 states, including 63 high-quality enclosed, outlet and open-air retail centers and seven properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information, visit cblproperties.com.
https://www.businesswire.com/news/home/20210811005783/en/CBL-Properties-Announces-Confirmation-of-Its-Plan-of-Reorganization
Terminal Outlaw
5年前
Recent institutional stock acquisition of $CBLAQ
Charles Schwab Investment Management, Inc
20,427,510 shares of common stock
Date of event: 9/30/2020
Renaissance Technologies, LLC
8,526,239 shares of common stock
Date of event:
BlackRock, Inc.
3,480,833 shares of common stock
Date of event: 6/30/2020
The Vanguard Group
8,604,867 shares
Title of class securities: REIT
Date of event: 12/31/2019
Luxor Capital Partners, LP
Title of class securities: common stock
Date of event: 12/31/2019
LCP Onshore Fund: 4,223,749 shares
Wavefront Fund: 1,074,238 shares
Offshore Master Fund: 2,911,754 shares
Thebes Master Fund: 1,124,079 shares
LCP total: 9,333,820 shares