A Locke Lord team represented Braemar Hotels & Resorts Inc., a real estate investment trust, in the public offering of 1,600,000 shares of 8.25% Series D cumulative preferred stock at a price of $25 per share for gross proceeds of $40 million. The underwriters have also been granted a 30-day option to purchase an additional 240,000 shares as part of the offering. The first dividend on the Series D preferred stock sold in the offering will be paid on Jan. 15, 2019. Additional team members included Jeff Wallace (Houston).
Posted on November 28, 2018