Daniel M. Negari made a proposal to acquire 94% stake in Creative Media & Community Trust Corporation (NasdaqGM:CMCT) from The Insight Trust and others for approximately $190 million on April 17, 2023. Negari proposed to acquire shares of Creative Media & Community Trust Corporation, not already owned by, The 1 8 999 Trust and XYZ LLC, for $8.88 per Share in cash. Proposal is conditioned upon satisfactory completion of due diligence typical for a transaction of this type, obtaining all necessary consents and approvals, waivers of any Company anti-takeover provisions and the execution of a definitive agreement containing customary terms and conditions for a transaction of this type and size.

Daniel M. Negari cancelled the proposal to acquire 94% stake in Creative Media & Community Trust Corporation (NasdaqGM:CMCT) from The Insight Trust and others on May 3, 2023. Creative Media & Community unanimously determined that the $8.88 per share price proposed by Daniel M. Negari is not in the best interests of CMCT or its shareholders and substantially undervalues CMCT.