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Stock impact report

Braemar Hotels & Resorts Prices Public Offering Of Preferred Stock

Braemar Hotels & Resorts Inc. (BHR) 
Last braemar hotels & resorts inc. earnings: 2/26 05:10 pm Check Earnings Report
Company Research Source: PR Newswire
DALLAS, Nov. 13, 2018 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) (the "Company") announced today that it has priced its underwritten public offering of 1,600,000 shares of 8.25% Series D Cumulative Preferred Stock, par value $0.01 per share (the "Series D Preferred Stock") at $25.00 per share.  Dividends on the Series D Preferred Stock will accrue at a rate of 8.25% per annum on the liquidation preference of $25.00 per share.  Settlement of the offering is expected to occur on or about November 20, 2018.  The underwriters have been granted a 30-day option to purchase an additional 240,000 shares as part of this offering.The Company intends to use the net proceeds from this offering to finance the acquisition of the 170-room Ritz-Carlton Lake Tahoe in Truckee, California (the "Ritz-Carlton Acquisition").  In the event the Ritz-Carlton Acquisition does not close, the Company intends to use the net proceeds from this offering for general corporate purposes, which may inclu Show less Read more
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