HERSHA HOSPITALITY TRUST: M&A transaction — Hersha Hospitality Trust acquired by KSL Capital affiliates for $10 per common share; delisted from NYSE

HERSHA HOSPITALITY TRUST

Merger closed Nov 28, 2023: common shareholders receive $10.00 per share; preferred receive $25.00 plus accrued dividends.
Common and preferred shares delisted from NYSE; Form 25 filed; Form 15 to follow to terminate SEC registration.
All trustees resigned effective at close; company now wholly owned by affiliates of KSL Capital Partners.
Transaction funded by KSL equity contributions and $1.4B debt financing from Wells Fargo and Citigroup.

item 1.02 item 2.01 item 3.01 item 3.03 item 5.01 item 5.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.4

HERSHA HOSPITALITY TRUST: Certificate of formation and LLC agreement of REIT Merger Sub became those of the surviving entity upon merger effective time; amendments not described.

Exact text from the filing

At the Company Merger Effective Time, the certificate of formation of REIT Merger Sub, as in effect immediately prior to the Company Merger Effective Time, became the certificate of formation of the Surviving Entity

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

HERSHA HOSPITALITY TRUST underwent a change of control involving 1776 Portfolio Investment, LLC (closed 2023-11-28).

Action: change of control
Counterparty: 1776 Portfolio Investment, LLC
Closing: 2023-11-28

Exact text from the filing

On November 28, 2023, Hersha Hospitality Trust, a Maryland real estate investment trust (the " Company "), completed the transactions contemplated by the Agreement and Plan of Merger

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HERSHA HOSPITALITY TRUST terminated Credit Agreement with Citibank, N.A. valued at Repaid in full all outstanding indebtedness and terminated all obligations and commitments under Cre (effective 2023-11-28).

Action: termination
Agreement: credit facility
Counterparty: Citibank, N.A.
Value: Repaid in full all outstanding indebtedness and terminated all obligations and commitments under Cre
Effective: 2023-11-28

Exact text from the filing

on November 28, 2023, the Company repaid in full all outstanding indebtedness and terminated all obligations and commitments under its Credit Agreement, dated as of August 4, 2022, by and among Company OP, the Company, Citibank, N.A. and the other parties signatories thereto (the " Existing Company Debt ").

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001140361-23-054882

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.