SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

The following events occurred subsequent toSeptember 30, 2020:

Amendment to Merger Agreement

On November 3, 2020, the parties to the Merger Agreement entered into Amendment No. 1 to Agreement and Plan of Merger (the “Amendment”), pursuant to which (i) the Merger Agreement was amended to increase the Exchange Ratio from 1.093 to 1.098 shares of CMFT Common Stock for each share of CCIT III Common Stock (as each term is defined in the Merger Agreement) (with such ratio subject to adjustments in accordance with the terms and conditions of the Merger Agreement) and (ii) CCIT III irrevocably waived its right to terminate the Merger Agreement set forth in Section 9.1(c)(iii) in relation to the amendment of the CCPT V Merger Agreement to increase the exchange ratio set forth therein.

Registration Statement on Form S-4

In connection with the Merger, CMFT filed a registration statement on Form S-4 (File No. 333-249292), declared effective by the SEC on November 10, 2020, that includes a proxy statement of the Company and that also constitutes a prospectus of CMFT. The Merger is currently anticipated to close by year end 2020.