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News  ›  Benzinga

Creative Media Shares Spike On Heels Of $44 Million PG FR Deal

Benzinga Logo Benzinga By Lekha Gupta
Creative Media Shares Spike On Heels Of $44 Million PG FR Deal

Creative Media & Community Trust Corp announced the sale of its lending division to PG FR Holding, LLC for approximately $44 million, expecting net cash proceeds of around $31 million. The transaction supports the company's strategic priorities and will result in leadership changes.

Insights
NVDA   negative

Facing potential margin compression and market share erosion as cloud providers develop custom silicon alternatives


CMCT   positive

Company is strengthening its balance sheet, enhancing liquidity, and receiving significant cash proceeds from the asset sale, with stock price surging over 71%