Ashford, Inc. Enters Agreement to Combine with Remington Holdings

Ashford Inc. | September 21, 2015

Transaction Highlights: Transaction values Remington at an estimated EBITDA multiple of 9.4x 916,500 shares of subsidiary nonvoting common stock issued at $100 per share, a premium of 54% to the current market price of Ashford common stock $230 million of subsidiary participating convertible preferred stock convertible at $120 per share, a premium of 85% to the current market price of Ashford common stock Large transformational acquisition with only $625,000 to be paid in cash each quarter for four years Enhances strong alignment of management with the interests of shareholders through issuance of non-voting common equity and conv...