Copper Property CTL Pass Through Trust (the “Trust”) a New York common law trust, today announced that it has applied to list its trust certificates on the Nasdaq Capital Market (“NASDAQ”).
Commenting on the listing, Larry Finger, the Trust’s Chief Financial Principal stated, “we believe that being listed on the NASDAQ Exchange will create greater liquidity in the certificates and we look forward to generating additional exposure through this listing as we move forward on liquidating the Trust’s underlying assets.”
The listing of the Trust's trust certificates on the NASDAQ Exchange remains subject approval as well as meeting all applicable listing and regulatory requirements. These conditions include having at least 300 unrestricted round lot trust certificate holders, which the Trust does not currently satisfy. The Trust intends to take necessary measures to satisfy all of the applicable listing and regulatory requirements, however, no assurance can be given that the Trust will do so or that its application will be approved.
About Copper Property CTL Pass Through Trust
The Trust was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit www.ctltrust.net.
This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Copper Property CTL Pass Through Trust
Larry Finger | Principal Financial Officer
Mary Jensen | Investor Relatiosn