ITEM 3.02 Unregistered Sales of Equity Securities.
As previously disclosed, Condor Hospitality Trust, Inc. (the "Company") received
put right notices from all holders of Series E Cumulative Convertible Preferred
Stock (the "Preferred Stock") of the Company effective June 29, 2021 pursuant to
which the holders of the Preferred Stock gave notice of their election to
exercise their right to require the Company to redeem all 925,000 shares of the
Company's outstanding Series E Cumulative Convertible Preferred Stock (the
"Shares") held by them at a value per share equal to 130% of the $10 liquidation
preference of the Shares, plus accrued and unpaid dividends, on July 29, 2021.
On July 29, 2021, the Company redeemed the Shares with common stock, $0.01 par
value (the "Common Stock") by issuing 2,686,571 shares of Common Stock to the
holders of the Shares pursuant to the terms of the Shares, based on the weighted
market sale price average of the Common Stock for the thirty trading days
through June 29, 2021 of $4.9021 per share. The Common Stock was issued in
reliance on the exemption from registration set forth in Section 4(a)(2) of the
Securities Act of 1933, as amended.
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CONDOR HOSPITALITY TRUST, INC. 