Nov
20
Two Moody National REITs Become One
ByMoody National REIT I and Moody National REIT II have signed a definitive merger agreement.
Moody National REIT I’s Homewood Suites Austin-South
Houston—Less than two months after announcing plans to become a single entity, two investment trusts affiliated with Moody National Cos. signed a definitive merger agreement.
According to the terms of the merger agreement, Moody National REIT II has agreed to acquire Moody National REIT I and is set to pay gross consideration of $11.00 per share of REIT I common stock before the payment of various fees and costs—but at a net per share price no less than $10.25, in which case the exchange ratio will be 0.41 shares of REIT II common stock for each share of REIT I common stock…
