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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Apr. 21, 2:15 AM

Slide #12. Sotherly Hotels Inc. Secondary 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
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 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 is a self-managed and self-administered lodging real estate investment trust engaged in owning, acquiring, renovating and repositioning hotel properties located in primary markets in the mid-Atlantic and southern U.S. Co. conducts its business through Sotherly Hotels LP, its operating partnership, of which Co. is the general partner. Co. owns approximately 88.8% of the partnership units in the Operating Partnership. All of Co.'s hotels are wholly-owned by subsidiaries of the Operating Partnership, and all are managed on a day to day basis by either MHI Hotels Services, LLC, which does business as Chesapeake Hospitality, or Highgate Hotels, L.P.
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Company Name:  Sotherly Hotels Inc
Stock buyback:  SOHO buyback
Website:  www.mhihospitality.com
Sector:  REITs
Number of ETFs Holding SOHO:  4
Total Market Value Held by ETFs:  $4.10M
Total Market Capitalization:  $95.00M
% of Market Cap. Held by ETFs:  4.32%
 

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April 21, 2019    2:15 AM Eastern
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Strong Buy (4.00 out of 4)
82nd percentile
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