ASHFORD HOSPITALITY TRUST,INC. (NYSE:AHT) Files An 8-K Regulation FD DisclosureItem 7.01. Regulation FD Disclosure.
On August16, 2017, Ashford Hospitality Trust,Inc. (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit99.1 and incorporated herein by reference, regarding the redemptions of the Company’s 8.55% SeriesA Cumulative Preferred Stock, par value $0.01 per share (the “SeriesA Preferred Stock”) and 8.45% SeriesD Cumulative Preferred Stock, par value $0.01 per share (the “SeriesD Preferred Stock”) described below in Item 8.01.
The information in this Item 7.01 and Exhibit99.1 attached hereto are being furnished and shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall they be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01. Other Events.
On August16, 2017, the Company announced that on September18, 2017 (the “Redemption Date”) the Company intends to redeem (i)all of its issued and outstanding shares of SeriesA Preferred Stock at a redemption price of $25.00 per share, plus accrued and unpaid dividends through the redemption date, in an amount equal to $0.463125 per share, for a total redemption price of $25.463125 and (ii)1,564,353 shares of its SeriesD Preferred Stock (the “Redeemed SeriesD Preferred Stock” and, together with the SeriesA Preferred Stock, the “Redeemed Stock”) at a redemption price of $25.00 per share, plus accrued and unpaid dividends to, but not including, the redemption date, in an amount equal to $0.457709 per share, for a total redemption price of $25.457709. The redemption of the Redeemed Stock is conditioned upon the closing by the Company of its previously announced offering of SeriesH Cumulative Preferred Stock.
Upon redemption, the shares of Redeemed Stock will no longer be outstanding, and all rights of the holders with respect to such shares of Redeemed Stock will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest. All shares of Redeemed Stock are held in book-entry form through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. The shares of SeriesD Preferred Stock will be redeemed pro rata from the holders of record of such shares in proportion to the number of such shares held by such holders. Upon redemption, the SeriesA Preferred Stock will be delisted from trading on the New York Stock Exchange.
Item 9.01. Financial Statements and Exhibits.
ExhibitNo. |
Description |
99.1 |
Press Release dated August16, 2017 issued by Ashford Hospitality Trust,Inc. |