Sotherly Hotels Inc. to be Acquired by Joint Venture
WILLIAMSBURG, Virginia—Sotherly Hotels Inc. announced that it has entered into a definitive merger agreement with a joint venture led and sponsored by affiliates of Kemmons Wilson Hospitality Partners, LP, with Ascendant Capital Partners LP serving as a strategic joint venture partner, under which the joint venture entity, KW Kingfisher LLC, will acquire all outstanding shares of Sotherly common stock for $2.25 per share in cash (the “Merger Consideration”). The Merger Consideration represents a premium of […]
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