Condor Hospitality Trust, Inc. (NYSE American: CDOR), incorporated in the state of Maryland, last week announced that its Board of Directors has approved a special dividend liquidation distribution of $7.94 per share of the Company’s common stock, to its stockholders of record as of the close of business on December 27, 2021. The special dividend liquidation distribution will be paid on December 30, 2021. This special dividend liquidation distribution is being made in accordance with the Company’s voluntary Plan of Liquidation previously approved by its stockholders, whereby the Company is engaged in its winding-up process. Upon completion of the winding-up process and dissolution, if any funds remain, such funds will be distributed to stockholders.
The Company also announced that it notified the NYSE American of its intent to delist its Common Stock from the NYSE American stock exchange. The Company expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the “SEC”) and NYSE American relating to the delisting of the Common Stock on or about December 20, 2021 and that its Common Stock will be suspended from trading on the NYSE American on or about December 31, 2021. The Company does not expect that a trading market will develop for its Common Stock following suspension of trading on NYSE American. The Company expects that the official delisting of its Common Stock will be effective on or about December 31, 2021.