Ashford Hospitality Trust announced its plan to close its offering of Series J and Series K non-traded preferred stock on March 31, 2025. Since launching the offering in 2022, the company has successfully raised approximately $180.0 million in gross proceeds from the sale of these preferred shares.
Stephen Zsigray, Ashford Trust's President and Chief Executive Officer, commented that the non-traded preferred stock offering allowed the company to raise substantial capital during a challenging period in the capital markets. He expressed satisfaction with the success of the offering and the company's improved financial condition.
The closure of this offering signifies the company's achievement in securing significant capital through this avenue. Ashford Hospitality Trust is a real estate investment trust focused on investing predominantly in upper upscale, full-service hotels.
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