MHI Hospitality Corporation Announces Partial Redemption of Series A Cumulative Redeemable Preferred Stock; Financing of Tampa Hotel Asset

WILLIAMSBURG, Va.--(BUSINESS WIRE)--MHI Hospitality Corporation (NASDAQ: MDH) (the “Company”) announced today that the Company has entered into an agreement with the holders of the Company’s Series A Cumulative Redeemable Preferred Stock (the “Preferred Stock”) to redeem approximately 11,514 shares of Preferred Stock for an aggregate redemption price of approximately $12,295,234, plus the payment of related accrued and unpaid cash and dividends.