WILLIAMSBURG, Va., April 11, 2019 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc.(NASDAQ: SOHO) (the “Company”) today announced the pricing of its previously announced underwritten public offering of 1,080,000 shares of its 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) for total gross proceeds of $27,000,000 before underwriting discounts and commissions and expenses payable by the Company. The Company has granted the underwriters a 30-day option to purchase up to an additional 162,000 shares of Series D Preferred Stock to cover over-allotments, if any, at the public offering price of $25.00 per share of the Series D Preferred Stock. The offering is expected to close on or about April 18, 2019, subject to customary closing conditions. The Company has filed an application to list the Series D Preferred Stock on the NASDAQ under the symbol “SOHON” and trading is expected to commence within 30 days of closing of the offering.