POS EX 1 tm2011730d1_pos-ex.htm POS EX

 

 

 

As filed with the Securities and Exchange Commission on March 5, 2020

Registration No. 333-217578

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

POST-EFFECTIVE AMENDMENT NO. 8

TO

FORM S-11

FOR REGISTRATION UNDER THE SECURITIES ACT OF 1933

OF CERTAIN REAL ESTATE COMPANIES

 

PROCACCIANTI HOTEL REIT, INC.

(Exact Name of Registrant as Specified in Its Governing Instruments)

 

1140 Reservoir Avenue
Cranston, Rhode Island 02920-6320
(401) 946-4600

(Address, Including Zip Code and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

 

James A. Procaccianti
Procaccianti Hotel REIT, Inc.
1140 Reservoir Avenue
Cranston, Rhode Island 02920-6320
(401) 946-4600

(Name, Address, Including Zip Code and Telephone Number, Including Area Code, of Agent for Service)

 

Copies to:

Ron M. Hadar
Procaccianti Hotel REIT, Inc.
1140 Reservoir Avenue
Cranston, Rhode Island 02920-6320
Tel: (401) 946-4600
Fax: (401) 943-6320

Heath D. Linsky

Mary Katherine Rawls
Morrison & Foerster LLP
3500 Lenox Road, Suite 1500
Atlanta, Georgia 30326
(404) 490-4444

Rosemarie A. Thurston
Aaron C. Hendricson
Alston & Bird LLP
1201 West Peachtree Street
Atlanta, Georgia 30309
(404) 881-7000

 

Approximate date of commencement of proposed sale to the public: As soon as practicable following effectiveness of this Registration Statement.

 

If any of the Securities registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, check following box: x

 

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

 

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

 

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. x Registration No. 333-217578

 

If delivery of the prospectus is expected to be made pursuant to Rule 434, check the following box. ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of a “large accelerated filer,” “accelerated filer” and “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ¨ Accelerated filer ¨ Non-accelerated filer  x
Smaller reporting company   x Emerging growth company   x  

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 7(a)(2)(B) of the Securities Act. x

 

This Registration Statement shall become effective upon filing with the Securities and Exchange Commission in accordance with Rule 462(d) under the Securities Act of 1933, as amended.

 

 

 

 

 

 

EXPLANATORY NOTE

 

This Post-Effective Amendment No. 8 to the Registration Statement on Form S-11 (Registration No. 333-217578) is filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended, solely to file exhibits that were not previously filed with respect to such Registration Statement. No changes have been made to Part I or Part II of the Registration Statement other than Item 36(b) of Part II as set forth below.

 

 

 

 

PART II

INFORMATION NOT REQUIRED IN PROSPECTUS

 

Item 36.Financial Statements and Exhibits.

 

(b)Exhibits

 

The following exhibits are filed as part of this Registration Statement:

 

Exhibit No.   Description
10.1   Assignment of Membership Interest Purchase Agreement, dated as of February 27, 2020, by and between The Procaccianti Group, LLC, as assignor, and Procaccianti Hotel REIT, L.P., as assignee (attached as Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.2   Membership Interest Purchase Agreement, dated as of January 14, 2020, by, between and among TPG DP JV, LLC, ETJ Gano Holdings, Inc., PRJA Gano Holdings, LLC, and EHI Gano Holdings, Inc., as Sellers, and the Procaccianti Group, LLC, as Purchaser (attached as Exhibit 10.2 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.3   First Amendment to Membership Interest Purchase Agreement, dated as of February 12, 2020, by, between and among TPG DP JV, LLC, ETJ Gano Holdings, Inc., PRJA Gano Holdings, LLC, and EHI Gano Holdings, Inc., as Sellers, and the Procaccianti Group, LLC, as Purchaser (attached as Exhibit 10.3 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.4   Second Amendment to Membership Interest Purchase Agreement, dated as of February 20, 2020, by, between and among TPG DP JV, LLC, ETJ Gano Holdings, Inc., PRJA Gano Holdings, LLC, and  EHI Gano Holdings, Inc., as Sellers, and the Procaccianti Group, LLC, as Purchaser (attached as Exhibit 10.4 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.5   Third Amendment to Membership Interest Purchase Agreement, dated as of February 27, 2020, by and between TPG DP JV, LLC, ETJ Gano Holdings, Inc., PRJA Gano Holdings, LLC, EHI Gano Holdings, Inc. and TPG DP Investors, Inc., as Sellers, and the Procaccianti Group, LLC, as Purchaser (attached as Exhibit 10.5 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.6   Omnibus Amendment, Assignment, Assumption, Release and Reaffirmation Agreement, made as of February 27, 2020, between and among Gano Holdings, LLC, as Borrower, Hotel Manager Gano Opco Sub, LLC, Procaccianti Hotel REIT, Inc., and James A. Procaccianti, and East Boston Savings Bank (attached as Exhibit 10.6 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.7   Amended and Restated Commercial Real Estate Promissory Note, as of February 27, 2020, made by Gano Holdings, LLC and payable to East Boston Savings bank (attached as Exhibit 10.7 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.8   Collateral Assignment and Security Agreement in respect of Contracts, Licenses and Permits, effective as of February 27, 2020, by and between Gano Holdings, LLC, and East Boston Savings Bank (attached as Exhibit 10.8 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.9   Collateral Assignment and Security Agreement in respect of Contracts, Licenses and Permits, effective as of February 27, 2020, by and between Hotel Manager Gano Opco Sub, LLC and Gano Holdings, LLC (attached as Exhibit 10.9 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.10   Third Amendment to (i) Open-End Mortgage, Security Agreement and Assignment to Secure Present and Future Loans Under Chapter 25 of Title 34 of the General Laws of the State of Rhode Island and (ii) Assignment of Borrower’s Interests in Leases, Rents and Profits granted to East Boston Savings Bank, as Mortgagee, by Gano Holdings, LLC, as Mortgagor (attached as Exhibit 10.10 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.11   Hotel Lease between Gano Holdings, LLC, as Landlord, and PHR Gano Opco Sub, LLC, as Tenant, dated February 27, 2020 (attached as Exhibit 10.11 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.12   Hotel Management Agreement between PHR Gano Opco Sub, LLC and Gano Hotel Manager, LLC, made as of February 27, 2020 (attached as Exhibit 10.12 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.13   Tri-Party Agreement by Gano Holdings, LLC, as Owner, PHR Gano Opco Sub, LLC, as Tenant, Gano Hotel Manager, LLC, as Operator and East Boston Savings Bank, as Lender (attached as Exhibit 10.13 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).
10.14   Amended and Restated Agreement of Limited Partnership of Procaccianti Hotel REIT, L.P., dated as of February 27, 2020 (attached as Exhibit 10.14 to the Registrant’s Current Report on Form 8-K (File No. 333-217578), filed with the SEC on March 3, 2020, and incorporated herein by reference).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-11 and has duly caused this Post-Effective Amendment No. 8 to the Registration Statement on Form S-11 to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Cranston, state of Rhode Island, on 4th day of March, 2020.

 

    PROCACCIANTI HOTEL REIT, INC.
     
  By:   /s/ James A. Procaccianti
    James A. Procaccianti
Chief Executive Officer and President

 

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 8 to the Registration Statement on Form S-11 has been signed by the following persons in the capacities and on the dates indicated.

 

  Name   Title   Date
           
  /s/ James A. Procaccianti  

Chief Executive Officer, President and

Chairman of the Board of Directors

  March 4, 2020
  James A. Procaccianti   (Principal Executive Officer)    
           
  /s/ Gregory Vickowski   Chief Financial Officer, Treasurer and Director   March 4, 2020
  Gregory Vickowski  

(Principal Accounting Officer and Principal Financial Officer)

   
           
  /s/ *   Independent Director   March 4, 2020
  Lawrence Aubin        
           
  /s/ *   Independent Director   March 4, 2020
  Thomas R. Engel        
           
  /s/ *   Independent Director   March 4, 2020
  Ronald S. Ohsberg        
           
*By:   /s/ James A. Procaccianti        
  James A. Procaccianti        
  Attorney-in-fact