Liquidation: ASHFORD HOSPITALITY TRUST INC

Form Type: 8-K

Filing Date: 2025-03-31

Corporate Action: Liquidation

Type: New

Accession Number: 000123258225000064

Filing Summary: Ashford Hospitality Trust, Inc. engaged Robert A. Stanger & Co., Inc. to provide an opinion on the liquidation value of its Series J and Series K Preferred Stock as of December 31, 2024. The estimated liquidation value is determined to be $25.00 per share, which reflects the per share liquidation preference stated in the articles supplementary. Several valuation methodologies were utilized, including market capitalization analysis, analyst target prices, direct capitalization analysis, and third-party appraisals. The preferred stock coverage ratio was reported to be adequate as of the valuation date, indicating that the company's adjusted market capitalization supports the liquidation value for its outstanding preferred securities. Limitations in these methodologies are acknowledged, emphasizing that different assumptions could yield varied liquidation values and that these estimates are not audited or necessarily reflective of fair value under GAAP standards. Furthermore, no adjustments were made for transactions occurring after December 31, 2024, which could influence the liquidation values of the preferred stocks.