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Underwriters partially exercise option in Sotherly preferred stock offering

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Underwriters partially exercise option in Sotherly preferred stock offering

Sotherly Hotels Inc. said underwriters in its 1.2 million-share series C cumulative redeemable perpetual preferred stock offering partially exercised their overallotment option and acquired an additional 100,000 shares.

The shares were purchased at $25.00 apiece, less the underwriting discount.