Fri, May 9, 8:21 PM (13 days ago)
**Summary of Copper Property CTL Pass Through Trust (CTL) 10-K/A Amendment** **Company Overview:** Copper Property CTL Pass Through Trust (CTL) filed an amendment to its annual report to include the consolidated financial statements of Penney Intermediate Holdings LLC, a significant leaseholder. Penney Intermediate Holdings LLC leases over 20% of CTL's assets under long-term, triple-net leases, making their financial health material to CTL's investors. **Financial Performance and Condition:** The amendment includes the audited financial statements of Penney Intermediate Holdings LLC as of February 1, 2025, and February 3, 2024, and for the years ended on those dates. These statements were provided by Penney Intermediate Holdings LLC, and CTL did not participate in their preparation or review. **Strategic Overview and Future Outlook:** The amendment does not update or restate any other information in the original annual report. It solely adds the financial statements of Penney Intermediate Holdings LLC to provide investors with relevant information about a major leaseholder. **Risk Factors:** The financial condition of Penney Intermediate Holdings LLC is crucial for CTL, as they lease a significant portion of CTL's assets. Any financial distress at Penney Intermediate Holdings LLC could impact CTL's market position and financial condition. **Market Position Changes:** No changes in CTL's market position are reported in this amendment. The focus is on providing additional financial information about a key leaseholder. **Certifications:** The amendment includes certifications from the Principal Executive Officer and Principal Financial Officer pursuant to the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350.