Company: BHR-PD
Filing Date: 2025-11-18
Form Type: SCHEDULE 13D
Source: 0001213900-25-112094
Chunk: 0

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-18
Form: SCHEDULE 13D
Chunk 0
---
 dismissal of pending litigation involving the parties, the terms of certain "standstill" restrictions applicable to Blackwells Capital and its affiliates, and certain other matters. Concurrently with the entry into the Cooperation Agreement, certain of the parties thereto also entered into a Share Ownership Agreement (the "Share Ownership Agreement") and a Loan Agreement (the "Loan Agreement" and together with the Cooperation Agreement and the Share Ownership Agreement, the "Transaction Agreements"), pursuant to which Blackwells Capital or its affiliates agreed to purchase 3,500,000 shares of the Company's common stock in the open market, financed in part by the Issuer. The Loan Agreement, the Cooperation Agreement and the Share Ownership Agreement are set forth as Exhibits 99.3, 99.4 and 99.5, respectively, and incorporated herein by reference.                                                                 
 The Reporting Persons purchased the Shares and the options to purchase Shares based on their belief that the Shares and options to purchase Shares, when purchased, were undervalued and represented an attractive investment opportunity. No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 Depending on various factors including, without limitation, the Company's financial position and investment strategy, the price levels of the Shares and the options to purchase Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate and to the extent permitted by the terms of the Transaction Agreements including, without limitation, engaging in communications with management and the board of directors of the Issuer, discussing with the Issuer the potential repayment of the Loan Agreement and the terms thereof, purchasing additional Shares or options to purchase Shares, selling some or all of their Shares or options to purchase Shares, entering into financial instruments or other agreements that increase or decrease the Reporting Persons' economic or beneficial exposure with respect to their investment in the Issuer, engaging in short selling of or any hedging or similar transaction with respect to the Shares or options to purchase Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters