Cygnus Capital, Inc. (together with its affiliates, "Cygnus" or "we"), which collectively with the other participants in its solicitation beneficially owns approximately 2.7% of the outstanding shares of common stock of Ashford Hospitality Trust, Inc. (NYSE: AHT) ("AHT" or the "Company"), including 40,000 shares of common stock underlying certain call options, and a significant portion of each of the outstanding series of preferred stock, today commented on the lawsuit filed by AHT on January 19, 2021. AHT is suing Cygnus in order to prevent the firm from nominating director candidates and running an election contest at the Company’s 2021 Annual Meeting of Stockholders ("Annual Meeting").
Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that the Company has closed on the previously announced strategic financing from funds managed by Oaktree Capital Management, L.P. ("Oaktree"). The Company drew down $200 million on the financing at closing and has the option to draw down an additional $250 million, if needed. The optional additional drawdown has increased $100 million from the previously announced terms.
Investors need to pay close attention to Ashford Trust (AHT) stock based on the movements in the options market lately.