CaliberCos subsidiary signs contribution agreement for nine hotels at 10.5x 2025E EBITDA + $7.5M

CaliberCos Inc.

Nine hotel properties to be contributed into Caliber Hospitality for cash and/or OP Units.
Aggregate consideration = contributed entities' estimated 2025 EBITDA × 10.5x plus $7.5M.
Closing expected by end of Q3 2023; subject to customary conditions, including IPO-related repurchase rights.
Post-closing, LTD Entities can require repurchase of OP Units at $10/unit if no IPO within 36 months.
CaliberCos Inc. (CWD) is the parent; contribution structured through wholly-owned subsidiary Caliber Hospitality Trust.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CaliberCos Inc. entered into Contribution Agreement with L.T.D. Hospitality Group LLC and certain contributors (effective 2023-06-30).

Action: entry
Agreement: asset purchase
Counterparty: L.T.D. Hospitality Group LLC and certain contributors
Effective: 2023-06-30

Exact text from the filing

On June 30, 2023, a wholly-owned subsidiary of CaliberCos Inc. (the “Company”), Caliber Hospitality Trust, Inc. (“Caliber Hospitality Trust”), acting as the general partner of an affiliate of the Company, Caliber Hospitality, LP (“Caliber Hospitality”, together with Caliber Hospitality Trust, the “Caliber Entities”), entered into a Contribution Agreement (the “Contribution Agreement”) on behalf of the Caliber Entities with L.T.D. Hospitality Group LLC (“LTD”) and certain contributors named therein (the “Contributors” and together with LTD, the “LTD Entities”).

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Source: SEC EDGAR

accession 0001627282-23-000018

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