Ashford Hospitality calls $9.48 million of 8.45% series D preferreds

By Susanna Moon

Chicago, Sept. 5 – Ashford Hospitality Trust Inc. plans to redeem 379,036 shares of its 8.45% series D cumulative preferred stock.

The preferreds will be redeemed on Oct. 4 at a redemption price of $25.00 per share plus accrued dividends through the redemption date for a total redemption price of $25.551598 per share, according to a company notice.

The redemption is contingent upon exercising of the greenshoe on the company’s offering of series H cumulative preferred stock.

As reported Aug. 16, Ashford sold an upsized $85 million of 7.5% series H cumulative preferred stock with an over-allotment option for $12.75 million. The deal was increased from $50 million.

Ashford is a Dallas-based real estate investment trust.

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