DALLAS, June 26,
2023 /PRNewswire/ -- Ashford Securities LLC ("Ashford
Securities"), a wholly-owned subsidiary of Ashford Inc. (NYSE
American: AINC) ("Ashford"), is pleased to announce that it has
reached a milestone of $500 million,
including $42.1 million from
institutions, in capital raised in less than two years of serving
investors via the independent broker-dealer and RIA distribution
channels. Ashford Securities previously served as the managing
broker-dealer for Braemar Hotels & Resorts Inc. and currently
serves as the managing broker-dealer for Ashford Hospitality Trust,
Inc. and a growth-oriented private offering that is targeting
investments in all types of commercial real estate in the state of
Texas.
To date, over 88 independent broker-dealers and RIAs have
utilized the investment products distributed by Ashford Securities.
Ashford Securities is based in Dallas,
TX, and has 28 investment professionals across its team.
Mr. C. Jay Steigerwald III,
President and Head of Distribution of Ashford Securities commented,
"Our goal is to provide highly differentiated investment products
to financial intermediaries. I would like to take this
opportunity to thank all of our distribution partners for our
tremendous success. Without their confidence, trust, and support
this would not have been possible. We are very excited about what
the future holds for Ashford Securities."
About Ashford Securities LLC
Ashford Securities, member FINRA/SIPC, is an SEC-registered
broker-dealer that is wholly-owned by Ashford and serves as the
distributor for investment products within the Ashford group of
companies.
About Ashford Hospitality Trust, Inc.
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing predominantly in upper upscale,
full-service hotels.
About Ashford Inc.
Ashford is an alternative asset management company with a
portfolio of strategic operating businesses that provides global
asset management, investment management, and related services to
the real estate and hospitality sectors.
Forward-Looking Statements
Certain statements and assumptions in this press
release contain or are based upon "forward-looking" information and
are being made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, among others, statements
about the success of the Offering. These forward-looking statements
are subject to risks and uncertainties. When we use the words "will
likely result," "may," "anticipate," "estimate," "should,"
"expect," "believe," "intend," or similar expressions, we intend to
identify forward-looking statements. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
of our control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: Ashford's ability to repay, refinance, or restructure
its debt and the debt of certain of its subsidiaries; anticipated
or expected purchases or sales of assets; projected operating
results; completion of any pending transactions; our understanding
of our competition; market trends; projected capital expenditures;
the impact of technology on our operations and business; general
volatility of the capital markets and the market price of Ashford's
common stock and preferred stock; availability, terms and
deployment of capital; availability of qualified personnel; changes
in our industry and the markets in which we operate, interest rates
or the general economy; and the degree and nature of our
competition. These and other risk factors are more fully discussed
in Ashford's filings with the Securities and Exchange Commission
(the "SEC").
The forward-looking statements included in this press release
are only made as of the date of this press release. Such
forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all
information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or
factors, not all of which are known to us. If a change occurs, our
business, financial condition, liquidity, results of operations,
plans, and other objectives may vary materially from those
expressed in our forward-looking statements. You should carefully
consider these risks when you make an investment decision.
Investors should not place undue reliance on these forward-looking
statements. We can give no assurance that these forward-looking
statements will be attained or that any deviation will not occur.
We are not obligated to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or circumstances, changes in expectations, or
otherwise, except to the extent required by law.
Additional Information
The SEC has declared effective the registration statement
(including a prospectus) filed by Ashford Hospitality Trust, Inc.
("Ashford Trust") for the offering of Ashford Trust's Series J and
Series K Redeemable Preferred Stock (the "Offering"). Before you
invest, you should read the final prospectus and the accompanying
prospectus supplements, forming a part of that registration
statement and other documents Ashford Trust has filed with the SEC
for more complete information about Ashford Trust and the Offering
to which this communication relates. In particular, you should
carefully read the risk factors described in the final prospectus,
the accompanying prospectus supplements and the documents
incorporated by reference therein. You may get these documents for
free by visiting EDGAR on the SEC's website at www.sec.gov.
Alternatively, Ashford Trust, Ashford Securities or any dealer
participating in the offering will arrange to send you the
prospectus if you request it by calling toll-free
1-800-970-8929.
The final prospectus and prospectus supplement no. 1 for the
Offering, dated May 4, 2022, and
September 14, 2022, respectively, can
be accessed through the following links:
-
https://www.sec.gov/Archives/edgar/data/1232582/000110465922056200/tm2213690-3_424b3.htm
-
https://www.sec.gov/Archives/edgar/data/1232582/000110465922100064/tm2225818-1_424b3.htm
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SOURCE Ashford Securities