Condor Hospitality Trust, Inc. Announces Voluntary Suspension of Its SEC Reporting
25 Avril 2022 - 10:20PM
Business Wire
Condor Hospitality Trust, Inc. (the “Company”) announced today
that it has filed a Form 15 with the U.S. Securities and Exchange
Commission (the “SEC”) to voluntarily deregister its common stock
and suspend its reporting obligations under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). As a result of the
Form 15 filing, the Company will reduce expenses as it is no longer
required to file certain reports under the Exchange Act, including
quarterly reports on Form 10-Q, annual reports on Form 10-K, and
current reports on Form 8-K.
The Company is engaged in a shareholder-approved plan of
liquidation in connection with the Company’s prior sale of all of
its hotel operating assets. In accordance with the plan of
liquidation, the Company previously paid a special dividend
liquidation distribution of $7.94 per share of common stock to its
shareholders on December 30, 2021. As previously disclosed in the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2021, filed with the SEC on February 4, 2022, upon
completion of the winding-up process and dissolution of the
Company, if any funds remain, such funds will be distributed to
shareholders. The Company anticipates the winding up to be
completed on or before the last quarter of 2022, subject to the
settlement of all claims and liabilities.
Once the remaining amounts, if any, that may ultimately be
available for distribution to our shareholders are known, the
Company will publicly announce by press release the time and amount
of any final distribution to shareholders. The Company can provide
no assurance on the amount or timing of any such future liquidating
distribution, if any.
Forward-Looking Statement
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include all statements that are
not historical facts, and in some cases, can be identified by the
use of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “anticipate”, “estimate”, “believe”, “continue”,
“project”, “plan”, the negative version of these words or other
similar expressions. Readers are cautioned not to place undue
reliance on any such forward-looking statements.
All forward-looking statements speak only as of the date hereof
and are based on current expectations and involve a number of
assumptions, risks and uncertainties that could cause the actual
events to differ materially from such forward-looking statements.
They are not guarantees of future events and involve risks and
uncertainties that are difficult to control or predict. Risk
factors which could have a material adverse effect on the Company’s
plan of liquidation and winding-up are included in the Company’s
Annual Report on Form 10K for the fiscal year ended December 31,
2021 filed with the Securities and Exchange Commission on February
4, 2022. These risks and uncertainties should be considered in
evaluating any forward-looking statements.
The forward-looking statements represent the Company’s views
as of the date on which such statements were made. The Company
anticipates that subsequent events and developments may cause those
views to change. These forward-looking statements should not be
relied upon as representing the Company’s views as of any date
subsequent to the date hereof. The Company expressly disclaims a
duty to provide updates to forward-looking statements, whether as a
result of new information, future events or other occurrences.
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Jill Burger Condor Hospitality Trust, Inc. P.O. Box 153 Battle
Creek, NE 68715 (402) 371-2520 (301) 861-3305
Condor Hospitality (AMEX:CDOR)
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