As part of the Cooperation Agreement, Blackwells has committed to purchase 3.5 million shares of Braemar's stock in the open market, financed in part by Braemar. Braemar will also add an additional independent director to its Board of Directors and will consider Blackwells' input in this selection.
Braemar Hotels & Resorts To Add Independent Director With Input From Blackwells, Which Will Become A Significant Shareholder
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