Sotherly Hotels Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 14, 2021

 

SOTHERLY HOTELS INC.

SOTHERLY HOTELS LP

(Exact name of Registrant as Specified in Its Charter)

 

 

Registrant’s Telephone Number, Including Area Code: (757) 229-5648

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Sotherly Hotels Inc.    ☐Sotherly Hotels LP    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Sotherly Hotels Inc.    ☐Sotherly Hotels LP    ☐

 

 

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Securities registered or to be registered pursuant to Section 12(b) of the Act.

 

 

 

 

 

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On June 17, 2021, Sotherly Hotels Inc., a Maryland corporation (the “Company”) and the sole general partner of Sotherly Hotels LP, a Delaware limited partnership, filed a Current Report on Form 8-K disclosing that, on June 15, 2021, Louisville Hotel Associates, LLC (the “Seller”), an affiliate of the Company, entered into a hotel purchase and sale agreement (the “Agreement”) to sell the Sheraton Louisville Riverside hotel located in Jeffersonville, Indiana (the “Hotel”) to Lockwood Development Partners LLC (the “Buyer”) for a purchase price of $11.5 million, including the assumption by the Buyer of the mortgage loan on the hotel.  On October 14, 2021, the Seller notified the Buyer that it is terminating the Agreement pursuant to its termination rights under the Agreement.

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.