Pebblebrook Hotel Trust | 6.375% Series D Cumulative Redeemable Preferred Shares of Beneficial Interest (PEB.PRD)
This preferred is marked as having been called.
Prospectus excerpt: We may not redeem the Series D Preferred Shares before June 9, 2021 except in limited circumstances to preserve our status as a real estate investment trust (˘REIT÷) for federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined in ˘Description of the Series D Preferred Shares ¨ Special Optional Redemption÷). On and after June 9, 2021, we may, at our option, redeem the Series D Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption. In addition, upon the occurrence of a change of control the result of which is that neither our common shares of beneficial interest, $0.01 par value per share (˘common shares÷), nor the common securities of the acquiring or surviving entity (or American Depositary Receipts (˘ADRs÷) representing such securities) are listed on the New York Stock Exchange (the ˘NYSE÷), the NYSE MKT LLC (the ˘NYSE MKT÷) or the NASDAQ Stock Market (˘NASDAQ÷) or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series D Preferred Shares, in whole or in part and within 120 days after the first date on which such change of control occurred, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption. If we exercise any of our redemption rights relating to the Series D Preferred Shares, the holders of Series D Preferred Shares will not have the conversion right described below. The Series D Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us or converted in connection with a change of control by the holders of Series D Preferred Shares. Holders of shares of the Series D Preferred Shares will generally have no voting rights except for limited voting rights if we fail to pay distributions for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.
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