8-K - Braemar Hotels & Resorts Inc. | StockGist

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Braemar Hotels & Resorts Inc. disclosed an opinion from Robert A. Stanger & Co., Inc. on the liquidation value of its non-traded Series E Redeemable Preferred Stock and Series M Redeemable Preferred Stock as of December 31, 2025, estimating $25.00 per share, matching the stated liquidation preference. This assists broker-dealers in complying with FINRA Rule 2331(c)(1)(B) for customer account statements.

Key Takeaways

1Stanger estimated liquidation value of Series E Preferred Stock and Series M Preferred Stock at $25.00 per share as of December 31, 2025.

2Valuation equals per share liquidation preference in articles supplementary for both series.

3Valuation used market capitalization at 52-week low/high/closing, analyst target prices, direct capitalization analysis, and third-party appraisals.

4All methods showed adequate preferred stock coverage ratio and equity value exceeding total preferred liquidation preference.

5Stanger provided prior valuations, including as of December 31, 2024, and other services to Company and affiliates.

6Consent from Stanger dated March 26, 2026, for use in Form 8-K and referenced registration statements.

Current Report Details

Event Type

Other Event

Exhibits Only

Disclosure

Voluntary

Variant

8-K

Items Reported

8.01

OTHER EVENTS. Opinion of the Liquidation Value of our Series E Preferred Stock and Series M Preferred Stock as of December 31, 2025 In order to assist broker-de

Other Event

$25.00

9.01

FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits Exhibit Number Exhibit Description 23.1 Consent of Robert A. Stanger & Co., Inc. 101 Inline Interactive Data Fil

Exhibits Only

Exhibits (2)

EX-23

8-K