# EDGAR Filing Document

**Accession Number:** 0001301236
**File Stem:** 0000950170-23-005556
**Filing Date:** 2023-3
**Character Count:** 7270
**Document Hash:** 0941a987b8f65f075cbdb1d5905fce5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-005556.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0000950170-23-005556

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230226

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sotherly Hotels Inc.
- **CENTRAL INDEX KEY:** 0001301236
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32379
- **FILM NUMBER:** 23693956

**BUSINESS ADDRESS:**
- **STREET 1:** 306 SOUTH HENRY STREET
- **STREET 2:** SUITE 100
- **CITY:** WILLIAMSBURG
- **STATE:** VA
- **ZIP:** 23185
- **BUSINESS PHONE:** 757-229-5648

**MAIL ADDRESS:**
- **STREET 1:** 306 SOUTH HENRY STREET
- **STREET 2:** SUITE 100
- **CITY:** WILLIAMSBURG
- **STATE:** VA
- **ZIP:** 23185

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sotherly Hotel Inc.
- **DATE OF NAME CHANGE:** 20130416

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MHI Hospitality CORP
- **DATE OF NAME CHANGE:** 20040823
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SOTHERLY HOTELS LP
- **CENTRAL INDEX KEY:** 0001313536
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS & MOTELS [7011]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36091
- **FILM NUMBER:** 23693957

**BUSINESS ADDRESS:**
- **STREET 1:** 306 SOUTH HENRY STREET
- **STREET 2:** SUITE 100
- **CITY:** WILLIAMSBURG
- **STATE:** VA
- **ZIP:** 23185
- **BUSINESS PHONE:** 757-229-5648

**MAIL ADDRESS:**
- **STREET 1:** 306 SOUTH HENRY STREET
- **STREET 2:** SUITE 100
- **CITY:** WILLIAMSBURG
- **STATE:** VA
- **ZIP:** 23185

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MHI HOSPITALITY LP
- **DATE OF NAME CHANGE:** 20050106

?xml version="1.0" encoding="ASCII"? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

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**FORM** 8-K

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**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported):** February 26, 2023

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SOTHERLY HOTELS INC.

SOTHERLY HOTELS LP

**(Exact name of Registrant as Specified in Its Charter)** 

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| | | |
|:---|:---|:---|
| Maryland **(Sotherly Hotels Inc.)**<br>Delaware **(Sotherly Hotels LP)** | 001-32379 **(Sotherly Hotels Inc.)**<br>001-36091 **(Sotherly Hotels LP)** | 20-1531029 **(Sotherly Hotels Inc.)**<br>20-1965427 **(Sotherly Hotels LP)** |
| **(State or Other Jurisdiction**<br>**of Incorporation)** | **(Commission File Number)** | **(IRS Employer**<br>**Identification No.)** |
| 306 South Henry Street, Suite 100<br>Williamsburg**,** Virginia |  | 23185 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (**757**)** 229-5648

**Not Applicable** 

**(Former Name or Former Address, if Changed Since Last Report)** 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

**Sotherly Hotels Inc**. ☐ **Sotherly Hotels LP** ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

**Sotherly Hotels Inc**. ☐ **Sotherly Hotels LP** ☐

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Securities registered or to be registered pursuant to Section 12(b) of the Act.

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| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, $0.01 par value | SOHO | The NASDAQ Stock Market LLC |
| 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value | SOHOB | The NASDAQ Stock Market LLC |
| 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value | SOHOO | The NASDAQ Stock Market LLC |
| 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value | SOHON | The NASDAQ Stock Market LLC |

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**Item 1.01 Entry into a Material Definitive Agreement.**

On February 26, 2023, affiliates of Sotherly Hotels Inc., the sole general partner of Sotherly Hotels LP (the "Operating Partnership"), entered into amended loan documents to modify the existing mortgage loan (as amended, the "Mortgage Loan") on The Whitehall hotel located in Houston, TX with the existing lender, International Bank of Commerce. Pursuant to the amended loan documents, the Mortgage Loan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•has a principal balance of approximately $14.2 million;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•has an extended maturity date of February 26, 2028;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•maintains a floating interest rate of New York Prime Rate plus 1.25%, subject to a floor rate of 7.50%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•contains customary representations, warranties, covenants and events of default for a mortgage loan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•continues to be guaranteed by the Operating Partnership.

**Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

The disclosure required by this Item 2.03 is included in Item 1.01 and is incorporated herein by reference.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: March 1, 2023 | **SOTHERLY HOTELS INC.** | **SOTHERLY HOTELS INC.** |
|  | By: | /s/ Anthony E. Domalski |
|  |  | **Anthony E. Domalski** |
|  |  | **Chief Financial Officer** |
|  | **SOTHERLY HOTELS LP** | **SOTHERLY HOTELS LP** |
|  |  | **by its General Partner,** |
|  |  | **SOTHERLY HOTELS INC.** |
|  | By: | /s/ Anthony E. Domalski |
|  |  | **Anthony E. Domalski** |
|  |  | **Chief Financial Officer** |

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