Sotherly Hotels Terminates Material Definitive Agreement
Ticker: SOHON · Form: 8-K · Filed: Sep 11, 2025 · CIK: 1301236
| Field | Detail |
|---|---|
| Company | Sotherly Hotels INC. (SOHON) |
| Form Type | 8-K |
| Filed Date | Sep 11, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $17.75 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-agreement
TL;DR
Sotherly Hotels just terminated a big deal. What was it?
AI Summary
Sotherly Hotels Inc. announced on September 5, 2025, the termination of a material definitive agreement. The filing does not specify the other party involved or the terms of the terminated agreement.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's strategic direction and financial performance, potentially affecting its ongoing operations or future plans.
Risk Assessment
Risk Level: medium — Terminating a material definitive agreement can signal underlying issues or a change in strategic direction, which carries inherent business risks.
Key Players & Entities
- Sotherly Hotels Inc. (company) — Filer
- SOTHERLY HOTELS LP (company) — Related Filer
FAQ
What was the specific material definitive agreement that was terminated?
The filing does not specify the name or details of the terminated material definitive agreement.
Who was the other party to the terminated agreement?
The filing does not disclose the identity of the other party involved in the terminated agreement.
What is the effective date of the termination?
The termination is effective as of September 5, 2025, as indicated by the filing date of September 11, 2025.
Are there any financial implications mentioned for Sotherly Hotels Inc. due to this termination?
The filing does not provide any details regarding the financial implications of the termination for Sotherly Hotels Inc.
Does the filing indicate if this termination is related to a specific project or transaction?
The filing does not provide context on whether the terminated agreement was related to a specific project or transaction.
Filing Stats: 705 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2025-09-11 16:00:28
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value SOHO The Nasdaq Stock Mar
- $17.75 million — the "Parties") for a purchase price of $17.75 million. The closing of the transactions cont
Filing Documents
- soho-20250905.htm (8-K) — 73KB
- 0001193125-25-201295.txt ( ) — 252KB
- soho-20250905.xsd (EX-101.SCH) — 63KB
- soho-20250905_htm.xml (XML) — 12KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed in a Current Report on Form 8-K filed on July 30, 2025, SOHO Atlanta, LLC (the "Seller"), a Delaware limited liability company and an affiliate of Sotherly Hotels Inc., a Maryland corporation (the "Company") and the sole general partner of Sotherly Hotels LP, a Delaware limited partnership, entered into a sale, purchase and escrow agreement (the "Agreement") on July 24, 2025 to sell a portion of its real estate containing the parking garage (the "Parking Garage"), associated with the Georgian Terrace hotel, located in Atlanta, Georgia, to Banyan Street Capital LLC, a Delaware limited liability company (the "Buyer" and, together with the Seller, the "Parties") for a purchase price of $17.75 million. The closing of the transactions contemplated by the Agreement was subject to various contingencies, including Buyer's 45-day investigation period, during which period Buyer was entitled to terminate the Agreement for any reason (the "Investigation Period"). On September 5, 2025, Buyer sent a notice that it was terminating the Agreement pursuant to such termination right (the "Termination Notice"). On September 9, 2025, the Parties executed an amendment to the Agreement which rescinds the Termination Notice and extends the Investigation Period until September 30, 2025, or such later date upon which the Parties may mutually agree.
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. The disclosures set forth in Item 1.01 of this Current Report on Form 8-K are incorporated into this Item 1.02 by reference.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. Date: September 11, 2025 SOTHERLY HOTELS INC. By: /s/ Anthony E. Domalski Anthony E. Domalski Chief Financial Officer SOTHERLY HOTELS LP by its General Partner, SOTHERLY HOTELS INC. By: /s/ Anthony E. Domalski Anthony E. Domalski Chief Financial Officer