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Benzinga
Benzinga
Business
Akanksha Bakshi

This $2.25-A-Share Deal Just Sent Sotherly Hotels Stock Soaring Over 140%

Ascendant Soho Andrew Sims
Business,Handshake,For,Teamwork,Of,Business,Merger,And,Acquisition,successful,Negotiate,hand

Sotherly Hotels Inc. (NASDAQ:SOHO) agreed to be acquired by a joint venture led by affiliates of Kemmons Wilson Hospitality Partners LP (KWHP), with Ascendant Capital Partners LP as a strategic partner. The venture’s entity, KW Kingfisher LLC, will buy all outstanding Sotherly common shares for $2.25 each in cash.

Significant Financial Premium for Shareholders

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