Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, May 10, 12:51 PM
| This Slide: #208 of 665 |
Slide #208. Sotherly Hotels Inc. — Preferred Stock Offering
| Company: | Sotherly Hotels Inc. (NASDAQ:SOHO) |
| Date announced: | 4/8/2019 |
| Shares Offered: | 1,080,000 |
| Date of Pricing: | 4/11/2019 |
| Price Per Share: | $25.00 |
| Preferred Stock Offering Details: | Sotherly Hotels Inc. (NASDAQ: SOHO) (the "Company") today announced that it has commenced an underwritten public offering of shares of its Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock"). The Company expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series D Preferred Stock being offered to cover over-allotments, if any. The Company has filed an application to list the Series D Preferred Stock on the NASDAQ under the symbol "SOHON." -updated 4/11- Sotherly Hotels Inc. (NASDAQ: SOHO) (the "Company") today announced the pricing of its previously announced underwritten public offering of 1,080,000 shares of its 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock (the "Series D Preferred Stock") for total gross proceeds of $27,000,000 before underwriting discounts and commissions and expenses payable by the Company. The Company has granted the underwriters a 30-day option to purchase up to an additional 162,000 shares of Series D Preferred Stock to cover over-allotments, if any, at the public offering price of $25.00 per share of the Series D Preferred Stock. The offering is expected to close on or about April 18, 2019, subject to customary closing conditions. The Company has filed an application to list the Series D Preferred Stock on the NASDAQ under the symbol "SOHON" and trading is expected to commence within 30 days of closing of the offering. |
Sotherly Hotels Inc. is a self-managed and self-administered lodging real estate investment trust. Co. is focused on the acquisition, renovation, up branding and repositioning of upscale to upper-upscale full-service hotels in the Southern U.S.. Co. conducts its business through Sotherly Hotels LP, its operating partnership (the Operating Partnership). Its portfolio consists of ten full-service, primarily upscale and upper-upscale hotels located in seven states with an aggregate of 2,786 hotel rooms, and interests in two condominium hotels and their associated rental programs.
Preferreds: SOHOB, SOHOO, SOHON
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