UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 1-U
CURRENT REPORT PURSUANT TO REGULATION A
Date of Report (Date of earliest event reported): November 11, 2021 (November 9, 2021)
Compound Projects, LLC
(Exact name of issuer as specified in its charter)
Delaware | 84-4017577 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation or organization) | Identification No.) |
149 5th Avenue, Suite 2E New York, NY 10017 |
(Address of principal executive offices) |
212-401-6930
(Issuer’s telephone number, including area code)
Series #Illume Interests
(Title of each class of securities issued pursuant to Regulation A)
Item 9. Other Events
On October 30, 2021, Compound Illume 302, LLC, a wholly owned subsidiary of Series #Illume, a series of Compound Projects, LLC, a Delaware series limited liability company (the “Company”), entered into an agreement (the “Agreement”) to sell unit #302 at Illume, a residential condominium located at 920 South Street, Nashville, TN (the “Series #Illume Property”), for $480,000. The closing of the purchase and sale of the Series #Illume Property took place on November 9, 2021, and Series #Illume received net sale proceeds of $447,512 after deducting brokerage commissions and closing costs. Series #Illume acquired the Series #Illume Property on August 31, 2020 for $411,000. Series #Illume intends to distribute the proceeds from this sale together with additional cash derived from operations at which time Series #Illume will no longer hold any assets. Following this distribution, the Company intends to dissolve Series #Illume.
SIGNATURE
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 11, 2021 | COMPOUND PROJECTS LLC By: Compound Asset Management, LLC its managing member |
/s/ Jesse Stein | |
Name: Jesse Stein | |
Title: Chief Operating Officer |