Sotherly Hotels stockholders approve merger; expected close Q1 2026 at $2.25/share

Sotherly Hotels Inc.

Shareholders voted 11,803,072 FOR (98.2%) to approve merger with KW Kingfisher LLC joint venture.
Merger expected to close during Q1 2026; common stockholders to receive $2.25 per share cash.
Joint venture led by Kemmons Wilson Hospitality Partners and Ascendant Capital Partners.
Special Meeting quorum of 58.7% of outstanding shares; advisory compensation proposal also approved.
Merger sub Sparrows Nest LLC will merge into Sotherly; prior directors resigned, Scott Painter appointed sole director and CEO.

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