Filed: 9 Mar 21, 4:11pm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): March 3, 2021
Cottonwood Communities, Inc.
(Exact Name of Registrant as Specified in Its Charter)
|(State or other jurisdiction of incorporation)||(Commission file number)||(IRS employer identification number)|
1245 Brickyard Road, Suite 250
Salt Lake City, Utah 84106
(Address of Principal Executive Offices)
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ý
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ý
Item 3.02 Unregistered Sales of Equity Securities.
On November 8, 2019, Cottonwood Communities, Inc. (the "Company") launched a best-efforts private placement offering exempt from registration pursuant to Rule 506(b) of Regulation D of the Securities Act pursuant to which it is offering a maximum of $50,000,000 in shares of its Series 2019 Preferred Stock to accredited investors (the "Private Offering") at a purchase price of $10.00 per share (with discounts available to certain categories of purchasers). The exemption is available to the Company because the shares are being offered and sold solely to accredited investors without the use of general solicitation.
During the period from March 1, 2021 through March 8, 2021, the Company issued and sold 310,730 shares of its Series 2019 Preferred Stock in the Private Offering and received aggregate proceeds of $3,107,300. In connection with the sale of these shares in the Private Offering, the Company paid aggregate selling commissions of $217,511 and placement fees of $59,039. As of March 8, 2021, there were 3,927,556 shares of the Company’s Series 2019 Preferred Stock outstanding.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|COTTONWOOD COMMUNITIES, INC.|
|By:||/s/ Enzio Cassinis|
|Title:||Chief Executive Officer|
Date: March 9, 2021