3//SEC Filing
Bright Force Investment, LLC 3
Accession 0001104659-22-005506
CIK 0001497645other
Filed
Jan 18, 7:00 PM ET
Accepted
Jan 19, 5:09 PM ET
Size
7.6 KB
Accession
0001104659-22-005506
Insider Transaction Report
Form 3
Bright Force Investment, LLC
10% Owner
Holdings
- (indirect: See Footnote)
Partnership Units
→ Common Stock (14,355,904 underlying)
NewcrestImage Holdings, LLC
10% Owner
Holdings
- (indirect: See Footnote)
Partnership Units
→ Common Stock (14,355,904 underlying)
Footnotes (4)
- [F1]Represents common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). Each OP Unit is redeemable for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Operating Partnership may, at its election, cause the Issuer to acquire some or all of the OP Units so presented on a one-for-one basis for shares of the Issuer's common stock.
- [F2]OP Units issued in connection with the consummation of the contribution of certain properties to the Operating Partnership or its affiliate pursuant to the Contribution and Purchase Agreement, executed as of November 2, 2021, by and among the Operating Partnership, Summit Hospitality JV, LP, NewcrestImage Holdings, LLC and NewcrestImage Holdings II, LLC.
- [F3]Up to 991,542 OP Units may be redeemed immediately and the remaining 13,364,362 OP Units may be redeemed at any time after July 13, 2022. These redemption rights have no expiration date.
- [F4]Held directly by Bright Force Investment, LLC, a limited liability company wholly-owned by NewcrestImage Holdings, LLC.
Documents
Issuer
Summit Hotel Properties, Inc.
CIK 0001497645
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001905505
Filing Metadata
- Form type
- 3
- Filed
- Jan 18, 7:00 PM ET
- Accepted
- Jan 19, 5:09 PM ET
- Size
- 7.6 KB