Ashford Hospitality announces 1-for-10 reverse stock split

Ashford Hospitality Trust announced that it was notified by the New York Stock Exchange on September 23, 2024, that it is not in compliance with Section 802.01C of the NYSE’s Listed Company Manual, which requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading day period. The company plans to notify the NYSE within 10 business days of receipt of the notice that it intends to execute a 1-for-10 reverse stock split in order to regain compliance. The company can regain compliance at any time within a six-month cure period following its receipt of the notice if, on the last trading day of any calendar month during such cure period, the company has both: (i) a closing share price of at least $1.00 and (ii) an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of the applicable calendar month. The company’s common stock will continue to be listed and traded on the NYSE during this period, subject to the company’s compliance with other NYSE continued listing standards. The company’s common stock will continue to trade under the symbol “AHT,” but will have an added designation of “.BC” to indicate that the company is not currently in compliance with NYSE continued listing standards.