Sotherly Hotels gets Nasdaq deficiency notice for delayed Q2 2024 10-Q filing

Sotherly Hotels Inc.

Received Nasdaq notice on August 20, 2024 for failure to timely file Form 10-Q for quarter ended June 30, 2024.
Previously granted exception until November 18, 2024 to file delinquent Q1 2024 10-Q; any new exception is limited to 180 days from that due date.
Company must submit updated compliance plan to Nasdaq by September 4, 2024.
Delays due to ongoing evaluation of preferred units classification on operating partnership balance sheet (permanent vs. temporary equity) and other accounting items.
Notice has no immediate effect on listing of common or preferred stock on Nasdaq Global Market.

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