Ashford Securities LLC (“Ashford Securities”), a wholly- owned subsidiary of Ashford Inc. (NYSE American: AINC) (“Ashford”), today announced the upcoming closing of the offering for the Series E & M Redeemable Preferred Stock of Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar”).
With today’s announcement, the offering of Braemar’s Series E & M Preferred Stock Offering (the “Offering”) will now terminate on February 17, 2023.
Since the launch of the offering on July 9, 2021, Braemar has sold more than $300 million, or 12million shares, of the Series E and Series M Redeemable Preferred Stock. Ashford Securities is the dealer manager for the offering.
“We are thrilled with the overwhelming success of our initial offering at Ashford Securities,” said C. Jay Steigerwald III, President of Ashford Securities. “We have raised over $300 million, through a network of over 70 broker/dealer & RIA partners, for Braemar to support its ongoing growth strategy. Since launching the Offering, Braemar has acquired the Mr. C Hotel in Beverly Hills and the Ritz-Carlton Reserve Dorado Beach, and recently announced the planned acquisition of the Four Seasons Resort Scottsdale at Troon North. Looking ahead, Ashford Securities is excited for the opportunity to raise capital for additional Ashford companies, including Ashford Hospitality Trust (NYSE: AHT) via its Series J & K Redeemable Preferred Stock Offering.”
(This news/press release has not been altered by investment.org, apart from the headline, and has been obtained from a syndicated source:-