Ashford Hospitality Trust: THE TRUST COMPLETES THE REVERSE ALLOCATION OF STOCK (Form 8-K)
ASHFORD TRUST COMPLETES REVERSE STOCK SPLIT
DALLAS, July 16, 2021 – Ashford Hospitality Trust, Inc. (NYSE: AHT) (‘Ashford Trust’ or the ‘Company’) today announced that it has completed a split of the Company’s common stock at a ratio from 1 to -10.
After the close of business on July 16, 2021, the effective date of the reverse stock split, each issued and outstanding common share of the Company and equivalents has been converted into 1 / 10th of a common share of the Company. As a result of the stock split, the number of common shares outstanding was reduced from approximately 265.1 million shares to approximately 26.5 million shares. The reverse stock split will affect all shareholders proportionately and will not affect a shareholder’s percentage ownership of the common shares of the Company, except for minor changes resulting from the cash payment for fractional shares.
As of market opening on July 19, 2021, the common shares of the Company will begin trading on a split-adjusted basis on the New York Stock Exchange (the âNYSEâ). The common shares will continue to trade on the NYSE under the symbol “AHT”, but will trade under a new CUSIP number. By implementing a reverse stock split, the Company and its Board of Directors believe they can realize increased additional demand for its common stock and options while making the Company’s shares more attractive to a wider range of investors. long-term potential institutional investors, individual investors and buy-side analysts.
Ashford Trust shareholders should contact their broker or Ashford Trust transfer agent, Computershare, at (800) 546-5141, for any assistance required with respect to the reverse stock split.
On July 16, 2021, the Company also completed a reverse demerger of the limited partnership units of Ashford Hospitality Limited Partnership, the operating partnership of the Company (âAshford Trust OPâ), at a ratio of 1 to 10 As a result of this consolidation, the number of outstanding limited partnership units of Ashford Trust OP was reduced from approximately 4.0 million units to approximately 402,222 units.
* * * * *
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing primarily in high-end, full-service hotels.
Follow CEO Rob Hays on Twitter at https://twitter.com/aht_rob or @aht_rob.
Certain statements and assumptions contained in this press release contain or are based on “forward-looking” information and are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this press release include , among others, statements on the strategy and future plans of the Company. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result”, “may”, “anticipate”, “estimate”, “should”, “expect”, “believe”, “intend” or similar expressions, we have intend to identify statements. Such statements are subject to many assumptions and uncertainties, many of which are beyond the control of Ashford Trust.
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: the impact of COVID-19, and the rate of adoption and effectiveness of vaccines to prevent COVID-19, on our business and investment strategy; the timing and outcome of the Securities and Exchange Commission investigation; our ability to regain S-3 eligibility; our ability to repay, refinance or restructure our indebtedness and the indebtedness of some of our subsidiaries; anticipated or expected asset purchases or sales; our projected operating results; the completion of all pending transactions; our understanding of our competitors; market trends; projected capital expenditures; the impact of technology on our operations and activities; general volatility in capital markets and the market price of our common and preferred shares; availability, conditions and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the economy in general; and the degree and nature of our competition. These and other risk factors are discussed in more detail in documents filed by Ashford Trust with the Securities and Exchange Commission.
The forward-looking statements included in this press release are made only as of the date of this press release. These forward-looking statements are based on our beliefs, assumptions and expectations regarding our future performance, taking into account all the information currently available to us. These beliefs, assumptions and expectations can change due to many events or potential factors, not all of which we are aware of. If any change occurs, our business, financial condition, liquidity, results of operations, plans and other objectives may differ materially from those expressed in our forward-looking statements. You should carefully consider this risk when making an investment decision regarding our securities. Investors should not place undue reliance on these forward-looking statements. The Company cannot guarantee that these forward-looking statements will be achieved or that no deviations will occur. We are under no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise, except to the extent required by law. law.
Ashford Hospitality Trust Inc. published this content on July 16, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on July 16, 2021 08:40:10 PM UTC.