Hersha Hospitality Trust | 8.00% Series A Cumulative Redeemable Preferred Shares (HT.PRA)
This preferred is marked as having been called.
Prospectus excerpt: Hersha Hospitality Trust is offering 2,400,000 shares of its 8.00% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value per share, which we refer to in this prospectus supplement as the Series A Preferred Shares, on terms summarized as follows: We will pay quarterly cumulative dividends, in arrears, on the Series A Preferred Shares from and including the date of original issue, payable on January 15, April 15, July 15 and October 15 of each year, when and as declared, beginning on October 15, 2005, at a yearly rate of 8.00% of the $25.00 liquidation preference, or $2.00 per Series A Preferred Share per year. We may not redeem the Series A Preferred Shares prior to August 5, 2010, except as necessary to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes. On or after August 5, 2010, we may, at our option, redeem the Series A Preferred Shares, in whole or in part at any time and from time to time, for $25.00 per Series A Preferred Share plus an amount equal to any accrued and unpaid dividends through and including the date of redemption, payable in cash. Any partial redemption will generally be on a pro rata basis. The Series A Preferred Shares have no stated maturity, are not subject to any sinking fund provisions and will remain outstanding indefinitely unless we redeem them. Holders of the Series A Preferred Shares will generally have no voting rights, except if we fail to pay dividends on any Series A Preferred Share for six or more quarterly periods (whether or not consecutive), or as otherwise required by law.
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