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WILLIAMSBURG, Va., May 03, 2024 (GLOBE NEWSWIRE) Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed an. ....
Sotherly Hotels Inc. Announces Senior Note Financing December 31, 2020 16:30 ET | Source: Sotherly Hotels Inc. Sotherly Hotels Inc. WILLIAMSBURG, Va., Dec. 31, 2020 (GLOBE NEWSWIRE) Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) announced today that the Company has entered into a Note Purchase Agreement with affiliates of Kemmons Wilson Hospitality Partners LP and Machine Investment Group for the issuance of certain notes (collectively, the “Note”) in an aggregate amount of $20.0 million, with an additional $10.0 million available to draw within the next twelve months, at the Company’s option. The Note matures in 3 years and will be payable on or before the maturity date at the rate of 1.47x the principal amount borrowed during the initial 3-year term, with a 1-year extension at Company’s option. The Note also carries a 6.0% current interest rate, payable quarterly during the initial 3-year term. Piper Sandl ....