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By Ru Back Packer Staff, updated Thursday, February 1, 7:40 AM

Slide #27. Sotherly Hotels Inc. Preferred Stock Offering

Company: Sotherly Hotels Inc. (NASDAQ:SOHO)
Date announced: 10/3/2017
Shares Offered: 1,200,000
Date of Pricing: 10/3/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Sotherly Hotels Inc. (NASDAQ:SOHO) (the "Company") today announced the pricing of its underwritten public offering of 1,200,000 shares of its 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock") for total gross proceeds of approximately $30,000,000 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 180,000 shares of Series C Preferred Stock being offered to cover over-allotments, if any, at the public offering price of $25.00 per share of the Series C Preferred Stock. The offering is expected to close on or about October 11, 2017, subject to customary closing conditions. The Company has filed an application to list the Series C Preferred Stock on the NASDAQ under the symbol "SOHOO" 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. As of Dec 31 2016, Co.'s portfolio consisted of 12 primarily upscale and upper-upscale hotels located in eight states with an aggregate of 3,011 rooms. 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 MHI Hotels Services, LLC.
Open the SOHO Page at Ru Back Packer »

Name: Sotherly Hotels Inc
Website: mhihospitality.com
Sector: REITs
Number of ETFs Holding SOHO: 2 (see which ones)
Total Market Value Held by ETFs: $229,929
Total Market Capitalization: $85,000,000
% of Market Cap. Held by ETFs: 0.27%

Open the SOHO Page at Ru Back Packer (in a new window) »

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