Recent 8-K filings for PRXK
Highest-materiality recent filing
Procaccianti Hotel REIT NAV per share drops sharply; Class A NAV falls from $22.76 to $9.82
- Estimated NAV per share as of March 31, 2024: K-I $10.17, K $10.17, K-T $12.23, A $9.82, B $0.00.
- Year-over-year decline: K-I/K shares fell from $11.53; A shares declined from $22.76; B shares fell from $14.77.
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Procaccianti Hotel REIT prorates Q1 2026 share repurchases at 1.3% due to funding limit
Board determined Funding Limitation reached for Q1 2026; insufficient DRIP proceeds to cover all requests.
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Procaccianti Hotel REIT renegotiates $15.6M loan; rate cut to 6.50% on Traverse City hotel debt
Interest rate reduced to fixed 6.50% from prior rate; effective May 6, 2026.
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K Share accrual $665,355; K-I Share accrual $248,516; both at 7% per annum ($0.001917808 per share/day).
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Procaccianti Hotel REIT prorates Q4 2025 repurchases at 3.6% due to insufficient DRIP proceeds
Board determined Funding Limitation reached for Q4 2025; DRIP net proceeds insufficient to fund all repurchase requests.
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Board authorized distributions of $681,398 for Class K common stock and $252,796 for Class K-I common stock for quarter ended Dec 31, 2025.
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Procaccianti Hotel REIT updates Alabama suitability standards for DRIP participants
Effective Feb 2, 2026, new Alabama investor requirements: net worth ≥$350K (excluding home, car) or net worth ≥$100K and income ≥$100K.
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Procaccianti Hotel REIT removes advisory fee sunset; stockholder vote approves amendment
Second Amended and Restated Advisory Agreement eliminates Aug. 13, 2026 deadline for asset management fee to cease accruing.
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Procaccianti Hotel REIT annual meeting adjourned due to lack of quorum; reconvenes Jan 19, 2026
Annual meeting convened Dec 19, 2025 at 10:00 a.m. ET; insufficient shares for quorum.
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Procaccianti Hotel REIT prorates Q3 repurchases to 4.6% after funding cap hit
Board determined insufficient DRIP proceeds to fund all Q3 repurchase requests, triggering Funding Limitation.
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Board authorized Q3 common stock distributions: $682,533 for K shares and $251,272 for K-I shares, totalling $933,805.
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Procaccianti Hotel REIT prorates Q2 share repurchases at 2.4% due to funding limitation
Board determined Funding Limitation reached for Q2 2025; insufficient net DRIP proceeds.
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Procaccianti Hotel REIT authorizes $945K in quarterly distributions for Q2 2025
Board authorized $676,113 distribution on K Shares and $247,029 on K-I Shares for quarter ended June 30, 2025.
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Procaccianti Hotel REIT board authorizes ~$2.4M per A share distribution on Aug 1, 2025
Cumulative distribution of $683,680 per A share for Sept 29, 2016 – Mar 30, 2020 at 6% annual accrual rate.
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Procaccianti Hotel REIT refinances $19.2M debt on Providence Hilton Garden Inn
Borrowed $19.2M via secured promissory note from Rockland Trust to refinance existing $16.9M debt and pay closing costs.
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Procaccianti Hotel REIT updates estimated per share NAV; Class A drops to $7.14 from $9.82
Estimated per share NAV as of March 31, 2025: Class K-I and K shares $10.17, Class A shares $7.14, Class B shares $0.00.
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Procaccianti Hotel REIT prorates Q1 2025 share repurchases at 2.4% due to funding limit
Board determined Funding Limitation reached for Q1 2025; insufficient DRIP net proceeds to fund all repurchase requests.
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Procaccianti Hotel REIT authorizes $935K in distributions for Q1 2025
Board authorized $670,156 distribution for Class K common stock, reflecting 7% per annum accrual.
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Procaccianti Hotel REIT prorates Q4 2024 share repurchases to 93.9% due to DRIP funding limitation
Board determined Funding Limitation reached for Q4 2024; insufficient net DRIP proceeds to fund all repurchase requests.
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Stockholders re-elect five directors at 2024 Annual Meeting
Each director received over 2.9 million For votes; Withheld votes ranged from 94,769 to 125,353.
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Board okays $684K distribution on K Shares, $246K on K-I Shares, $23K on OP Units
K Share distribution: $684,393 cumulative accrued for quarter ended Dec 31, 2024 at 7% per annum.
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Procaccianti Hotel REIT adjourns 2024 annual meeting due to lack of quorum; reconvenes Jan 17, 2025
Annual meeting on Dec 20, 2024 adjourned because insufficient shares for a quorum; no business conducted.
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Procaccianti Hotel REIT prorates Q3 share repurchases at 44.9% due to DRIP funding cap
Board found insufficient DRIP net proceeds to fund all September 30, 2024 repurchase requests.
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Procaccianti Hotel REIT authorizes $952,288 in distributions for Q3 2024
Board authorized $685,731 for K Shares, $244,012 for K-I Shares, and $1 for K-T Shares as accrued distributions.
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Procaccianti Hotel REIT prorates Q2 2024 share repurchases at ~31.38% due to funding limit
Board determined on Aug 14, 2024 that net proceeds from DRIP were insufficient to fund all Q2 repurchase requests.
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Board approved distributions for K, K-I, K-T shares outstanding June 30, 2024 at 7% per annum accrual.
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Procaccianti Hotel REIT estimates NAV per share: K-I/K $10.17, K-T $12.23, A $9.82, B $0.00
Estimated NAV per share: K-I and K shares $10.17; K-T shares $12.23; A shares $9.82; B shares $0.00.
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Procaccianti Hotel REIT NAV per share drops sharply; Class A NAV falls from $22.76 to $9.82
Estimated NAV per share as of March 31, 2024: K-I $10.17, K $10.17, K-T $12.23, A $9.82, B $0.00.
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Procaccianti Hotel REIT refinances Hotel Indigo Traverse City with $15.6M Berkshire Bank loan
Borrowed $15,600,000 from Berkshire Bank to refinance existing debt on the 107-room Hotel Indigo Traverse City.
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Board recommends rejecting $2.35 mini-tender; cites $11.53 NAV per share
Alternative Liquidity Capital offer at $2.35/share vs. estimated NAV of $11.53 (as of March 31, 2023).
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Procaccianti Hotel REIT prorates Q1 2024 share repurchases at 9.8% due to insufficient DRIP funds
Board found funding limitation reached for Q1 2024 share repurchase requests.
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Procaccianti Hotel REIT refinances two hotels with $23.67M Liberty Bank loan
Borrowed $23.67M via two loans secured by St. Petersburg and Wilmington hotels; proceeds used to pay off existing first mortgages.
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Procaccianti Hotel REIT prorates Q4 2023 share repurchases at 15.3% due to funding limit
Board found insufficient DRIP net proceeds to fund all Q4 2023 share repurchase requests.
Materiality & sentiment trend
Max materiality 0.85 · Median 0.47 · Most common event other_material