PROCACCIANTI HOTEL REIT Confirms Emerging Growth Status

TL;DR

**PROCACCIANTI HOTEL REIT confirmed its emerging growth company status, impacting regulatory oversight.**

AI Summary

PROCACCIANTI HOTEL REIT, INC. filed an 8-K on February 7, 2024, reporting an event that occurred on February 5, 2024. The filing indicates that the company is an "emerging growth company" as defined by the SEC. This matters to investors because emerging growth companies often have reduced reporting requirements, which can mean less transparency or different growth trajectories compared to more established companies, potentially impacting risk assessment.

Why It Matters

This filing confirms PROCACCIANTI HOTEL REIT, INC.'s status as an emerging growth company, which affects its regulatory obligations and could influence investor perception of its growth potential and risk profile.

Risk Assessment

Risk Level: low — This filing is primarily administrative, confirming a company status rather than reporting a significant operational or financial event, thus posing low immediate risk.

Analyst Insight

Investors should be aware of PROCACCIANTI HOTEL REIT, INC.'s emerging growth company status, as it may imply different regulatory scrutiny and growth expectations compared to more mature companies, and should research the implications of this status on financial reporting and governance.

Key Players & Entities

• PROCACCIANTI HOTEL REIT, INC. (company) — the registrant filing the 8-K
• February 5, 2024 (date) — date of the earliest event reported
• February 7, 2024 (date) — date the 8-K was filed
• Maryland (company) — state of incorporation for PROCACCIANTI HOTEL REIT, INC.
• 000-56272 (dollar_amount) — Commission File Number
• 81-3661609 (dollar_amount) — I.R.S. Employer Identification No.
• 1140 Reservoir Avenue Cranston, Rhode Island 02920-6320 (company) — address of principal executive offices
• 401-946-4600 (dollar_amount) — registrant's telephone number

FAQ

Key Financial Figures

• $689,607 — tstanding since September 30, 2023, was $689,607, $240,782, and $1,817, respectively (th
• $240,782 — since September 30, 2023, was $689,607, $240,782, and $1,817, respectively (the "K Share
• $1,817 — r 30, 2023, was $689,607, $240,782, and $1,817, respectively (the "K Share Accrual," t
• $0.001917808 — "K-T Share Accrual," respectively), or $0.001917808 per K Share per day, $0.001917808 per K
• $22,606 — P Units through September 30, 2023, was $22,606 (the "Class K OP Unit Accrual"), or $0.

Filing Documents

• tm245373d1_8k.htm (8-K) — 26KB
• 0001104659-24-011416.txt ( ) — 190KB
• tmb-20240205.xsd (EX-101.SCH) — 3KB
• tmb-20240205_lab.xml (EX-101.LAB) — 33KB
• tmb-20240205_pre.xml (EX-101.PRE) — 22KB
• tm245373d1_8k_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. Payment of Distributions On February 5, 2024, the board of directors (the "Board") of Procaccianti Hotel REIT, Inc. (the "Company") (i) authorized the payment of distributions out of legally available funds with respect to each share of Class K common stock ("K Share"), Class K-I common stock ("K-I Share") and Class K-T common stock ("K-T Share") outstanding as of December 31, 2023 (the "Common Stock Distributions") to the holders of record of K Shares, K-I Shares and K-T Shares and (ii) on behalf of the Company as the general partner of Procaccianti Hotel REIT, L.P., the Company's operating partnership (the "Operating Partnership"), authorized distributions out of legally available funds (the "Class K OP Unit Distributions") with respect to each unit of Class K limited partnership interest in the Operating Partnership (the "Class K OP Units") held by individuals with direct or indirect interests in the seller of the Hilton Garden Inn hotel property (the "Property") who are direct or indirect owners of Procaccianti Companies, Inc., the sponsor of the Company, and Procaccianti Hotel Advisors, LLC, the external advisor to the Company (the "Affiliate Sellers"). Common Stock Distributions With respect to the K Shares, K-I Shares and K-T Shares outstanding as of and during the quarter ended December 31, 2023, the cumulative amount of distributions that had accrued on a daily basis with respect to each K Share, K-I Share and K-T Share outstanding since September 30, 2023, was $689,607, $240,782, and $1,817, respectively (the "K Share Accrual," the "K-I Share Accrual" and the "K-T Share Accrual," respectively), or $0.001917808 per K Share per day, $0.001917808 per K-I Share per day, and $0.001917808 per K-T Share per day, which reflects an accrual rate of seven percent per annum for each share class under the Company's charter. The Board authorized the payment of distributions in an aggregate amount equal to the K Share Accrual, K-I Share Acc

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. PROCACCIANTI HOTEL REIT, INC. Date: February 7, 2024 By: /s/ Gregory Vickowski Gregory Vickowski Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR