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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Aug. 29, 7:26 PM

Slide #17. Sotherly Hotels Inc. Secondary Offering

Company: Sotherly Hotels Inc. (SOHOB)
Date announced: 8/15/2016
Shares Offered: 1,610,000
Date of Pricing: 8/16/2016
Price Per Share: $25.00
Secondary Offering Details: Sotherly Hotels Inc. (NASDAQ:SOHO) (the "Company") today announced that it has commenced an underwritten public offering of shares of its Series B Cumulative Redeemable Perpetual Preferred Stock (the "Series B Preferred Stock"). The Company expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of the Series B Preferred Stock to cover over-allotments, if any. The Company has filed an application to list the Series B Preferred Stock on the NASDAQ under the symbol "SOHOB." -updated 8/16- Sotherly Hotels Inc. (NASDAQ:SOHO) (the "Company") today announced the pricing of its upsized underwritten public offering of 1,610,000 shares of its 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock (the "Series B Preferred Stock") for total expected gross proceeds of approximately $40,250,000 before expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 15% of the Series B Preferred Stock to cover over-allotments, if any. The offering is expected to close on or about August 23, 2016, subject to customary closing conditions.

  Sotherly Hotels Inc. : trading symbol SOHOB
 

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August 29, 2016    7:26 PM Eastern
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