Sotherly Hotels receives Nasdaq delisting notice for late Q1 10-Q filing

Sotherly Hotels Inc.

Nasdaq notice received May 22, 2024 due to failure to timely file Form 10-Q for Q1 2024.
Company has 60 days until July 21, 2024 to submit compliance plan; Nasdaq may grant extension to Nov 11, 2024.
Delay caused by evaluation of preferred units classification as permanent vs temporary equity and other items.
No immediate effect on listing of common or preferred stock on Nasdaq.
Company intends to file Form 10-Q as soon as practicable.

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