secwatch.observer — SEC 8-K summary
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Issuer:     Summit Hotel Properties, Inc. (INN)
CIK:        0001497645
Form:       8-K
Filed at:   2021-08-11T23:59:59+00:00
Accession:  0001104659-21-103496
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 3.03, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Summit Hotel Properties prices $100M public offering of 5.875% Series F Preferred Stock
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- Pricing: 4,000,000 shares at $25.00 each; gross proceeds $100M; underwriters' 30-day option for 600,000 additional shares.
- Net proceeds estimated at $96.7M (or $111.2M if over-allotment exercised in full).
- Proceeds to redeem $75M of outstanding 6.45% Series D Preferred Stock plus accrued dividends; balance to reduce revolver/term loans.
- Offering expected to close August 12, 2021, subject to customary conditions.
- Underwriters led by Wells Fargo, Raymond James, BofA Securities, and Deutsche Bank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1497645/000110465921103496/0001104659-21-103496-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1497645/000110465921103496/tm2124093d4_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-103496

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