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IRVINE, Calif., July 13, 2021 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, announced today it intends to redeem all 3,000,000 outstanding shares of its 6.450% Series F Cumulative Redeemable Preferred Stock (CUSIP: 867892-70-5). Series F Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depository Trust Company.
The redemption date will be August 12, 2021. The Series F Preferred Stock will be redeemed for $25.00 per share, plus all accrued and unpaid dividends to, but not including, the redemption date in an amount equal to $0.183646 per share, for a total payment of $25.183646 per share, which will be payable in cash, without interest, on the redemption date. After the redemption date, Series F Preferred Stock will no longer be deemed outstanding and all the rights of the holders of Series F Preferred Stock will terminate, except the right to receive the redemption price. In addition, because all the issued and outstanding shares of Series F Preferred Stock are being redeemed, the Series F Preferred Stock will no longer trade on the New York Stock Exchange after the redemption date. The Series F Preferred Stock currently trades on the NYSE under the symbol SHO.PRF.