Sotherly Hotels Stock Soars In Pre-Market Over Merger Deal With KW Kingfisher

(RTTNews) - Monday, Sotherly Hotels Inc. (SOHO) entered into a definitive merger deal, agreeing to be acquired by a joint venture led and sponsored by affiliates of Kemmons Wilson Hospitality Partners, LP and Ascendant Capital Partners LP.

In the pre-market trading, SOHO is soaring 132.17 percent, to $2.11 on the Nasdaq.

As per the deal, the joint venture entity named KW Kingfisher LLC will acquire all outstanding shares of Sotherly common stock for $2.25 per share in cash.

The company noted that the transaction provides its stockholders with a significant premium over Sotherly's current share price, and represents the highest premium paid for a public, exchange-traded REIT in the past five years.

Notably, affiliates of Apollo Global Management (APO) and Ascendant provided debt financing commitments to the Joint Venture in connection with the transaction.

The deal is set to complete in the first quarter of 2026.