Business Context and Reporting Period
This Form 8-K Current Report was filed by Apple Hospitality REIT, Inc. on April 12, 2019, regarding events occurring on April 11, 2019. The filing addresses the termination of a specific equity distribution agreement.
Key Financial Metrics
This filing does not report standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data provided relates to the equity distribution program:
- Total Authorized Sales: Up to $300,000,000 of common shares.
- Amount Sold Prior to Termination: Approximately $139.8 million.
- Termination Penalties: None.
Material Changes
The material change reported is the termination of the Equity Distribution Agreement dated February 28, 2017. The agreement was terminated effective April 11, 2019. This action ends the Company's ability to sell the remaining authorized shares under this specific "at-the-market" program through the designated Sales Agents.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of new risks or contingencies. The document strictly confirms the cessation of the equity distribution facility without penalty.
Key Facts for Investor Verification
- Verify the current status of the Company's capital raising activities following the termination of the $300 million distribution agreement.
- Confirm the remaining unsold capacity under the terminated agreement was approximately $160.2 million ($300 million authorized minus $139.8 million sold).
- Check subsequent filings to determine if a new equity distribution agreement has been executed to replace the terminated one.