Braemar Hotels & Blackwells Capital Cooperate

 


Braemar Hotels & Resorts Inc. has officially announced the establishment of a cooperation agreement with Blackwells Capital LLC.


According to the terms of the Cooperation Agreement, Blackwells will retract its director nomination notice and proposals, stop soliciting proxies, and vote in favor of all Braemar directors and proposals at the 2024 Annual Meeting of Stockholders. Both Braemar and Blackwells have mutually agreed to release all legal claims prior to the settlement and dismiss their respective actions.


Richard J. Stockton, President and Chief Executive Officer of Braemar, expressed his satisfaction with the outcome, believing it to be in the best interest of all shareholders. He emphasized the company's commitment to managing its portfolio of assets, improving its financial structure, and maximizing shareholder value. Stockton also expressed enthusiasm for Braemar's future and the collaboration with Blackwells as a significant shareholder.


As part of the Cooperation Agreement, Blackwells has committed to acquiring 3.5 million shares of Braemar's stock in the open market.

More Information : https://www.techdogs.com/tech-news/pr-newswire/braemar-hotels-resorts-and-blackwells-capital-enter-into-cooperation-agreement

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