IRVINE, Calif., July 13, 2021 /PRNewswire/ -- Sunstone Hotel
Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the
owner of Long-Term Relevant Real Estate® in the hospitality sector,
announced today it intends to redeem all 3,000,000 outstanding
shares of its 6.450% Series F Cumulative Redeemable Preferred Stock
(CUSIP: 867892-70-5). Series F Preferred Stock held through
the Depository Trust Company will be redeemed in accordance with
the applicable procedures of the Depository Trust
Company.
The redemption date will be August
12, 2021. The Series F Preferred Stock will be
redeemed for $25.00 per share, plus
all accrued and unpaid dividends to, but not including, the
redemption date in an amount equal to $0.183646 per share, for a total payment of
$25.183646 per share, which will be
payable in cash, without interest, on the redemption date.
After the redemption date, Series F Preferred Stock will no
longer be deemed outstanding and all the rights of the holders of
Series F Preferred Stock will terminate, except the right to
receive the redemption price. In addition, because all the
issued and outstanding shares of Series F Preferred Stock are being
redeemed, the Series F Preferred Stock will no longer trade on the
New York Stock Exchange after the redemption date. The Series
F Preferred Stock currently trades on the NYSE under the symbol
SHO.PRF.
The notice of redemption and related materials are being
delivered to holders of record of Series F Preferred Stock as of
July 13, 2021. As specified in
the notice of redemption, payment of the applicable redemption
price, plus any accrued and unpaid dividends payable on the
redemption date, without interest, will be made only upon
presentation and surrender of the Series F Preferred Stock to the
redemption agent, American Stock Transfer & Trust Company,
LLC.
Questions regarding the redemption of the Series F Preferred
Stock may be directed to American Stock Transfer & Trust
Company, LLC at:
American Stock Transfer & Trust Company, LLC
Operations Center
6201 15th Avenue
Brooklyn, NY 11219
Attention: Reorganization Department
Tel.: (877) 248-6417
Contact
Bryan
Giglia
Sunstone Hotel Investors, Inc.
(949) 382-3036
Aaron Reyes
Sunstone Hotel Investors, Inc.
(949) 382-3018
About Sunstone Hotel Investors, Inc.
Sunstone Hotel Investors, Inc. is a lodging real estate
investment trust ("REIT") that as of the date of this release has
interests in 18 hotels comprised of 9,147 rooms, the majority of
which are operated under nationally recognized brands. Sunstone's
business is to acquire, own, asset manage and renovate or
reposition hotels considered to be Long-Term Relevant Real
Estate®.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "should," "will" and other similar terms and phrases,
including opinions, references to assumptions and forecasts of
future results. Forward-looking statements are not guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. All forward-looking
information provided herein is as of the date of this release, and
the Company undertakes no obligation to update any forward-looking
statement to conform the statement to actual results or changes in
the Company's expectations.
This release should be read together with the consolidated
financial statements and notes thereto included in our most recent
reports on Form 10-K and Form 10-Q. Copies of these reports are
available on our website at www.sunstonehotels.com and through the
SEC's Electronic Data Gathering Analysis and Retrieval System
("EDGAR") at www.sec.gov.
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SOURCE Sunstone Hotel Investors, Inc.