{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-128953","form_type":"8-K","ticker":"SOHOO","cik":"0001301236","company_name":"Sotherly Hotels Inc.","filed_at":"2026-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.752138+00:00","generated_at":"2026-05-15T08:32:50.899366+00:00","sec_items":["1.01","3.01","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Sotherly Hotels to delist preferred stock from Nasdaq; preferred holders convert 3.2M shares for $58.8M cash","bullets":["Consulting agreement with KWC Management for $650K annual fee, initial term to Feb 11, 2027.","Voluntarily delisting Series B, C, D preferred stock from Nasdaq; last trading day ~April 17, 2026.","Preferred holders converted 1.188M Series B, 1.202M Series C, 0.820M Series D shares; paid $22.2M, $23.0M, $13.6M respectively.","Delisting follows Feb 12, 2026 merger closing; over 80% of preferred shares opted for cash conversion.","Company will continue as a REIT and begin trading on OTC market; SEC reporting maintained."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-128953","json":"https://secwatch.observer/filing/0001193125-26-128953.json","markdown":"https://secwatch.observer/filing/0001193125-26-128953.md","text":"https://secwatch.observer/filing/0001193125-26-128953.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1301236/000119312526128953/0001193125-26-128953-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1301236/000119312526128953/d135012d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T08:32:50.899366+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"92c7f97af935f4e13a7e0c25d4e63dfefcfe3359","claim":"Sotherly Hotels Inc. entered into Consulting Agreement with KWC Management, LLC valued at $650,000 (effective 2026-02-12).","evidence_excerpt":"On March 24, 2026, Sotherly Hotels, LP, a Delaware limited partnership (the “ Operating Partnership ”), entered into a consulting agreement effective February 12, 2026 (the “ Consulting Agreement ”) with KWC Management, LLC, a Delaware limited liability company and an affiliate of the Operating Partnership (“ KWC ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1301236/000119312526128953/0001193125-26-128953-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"KWC Management, LLC"},{"label":"Value","value":"$650,000"},{"label":"Effective","value":"2026-02-12"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}