<!--Enhanced HTML document created with Toppan Merrill Bridge  9.9.1.77--><!--Created on: 2/5/2021 09:38:32 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Washington, DC 20549</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">FORM 8-K</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-transform:uppercase;">Pursuant to Section 13 or 15(</b><b style="font-weight:bold;">d</b><b style="font-weight:bold;text-transform:uppercase;">) of</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-transform:uppercase;">The Securities Exchange Act of 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Date of Report (Date of earliest event reported): February 2, 2021 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">LODGING FUND REIT III, INC.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Exact Name of Registrant as Specified in Charter)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:33.32%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:33.32%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:33.34%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:middle;width:33.32%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Maryland</b></p></td><td style="vertical-align:middle;width:33.32%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">000-56082</b></p></td><td style="vertical-align:middle;width:33.34%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">83-0556111</b></p></td></tr><tr><td style="vertical-align:middle;width:33.32%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(State or Other Jurisdiction of<br>Incorporation)</p></td><td style="vertical-align:top;width:33.32%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Commission File Number)</p></td><td style="vertical-align:middle;width:33.34%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(IRS Employer<br>Identification No.)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">1635 43rd Street South, Suite 205</b></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fargo, North Dakota</b></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">58103</b></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Address of Principal Executive Offices)</p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Zip Code)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Registrant&#8217;s telephone number, including area code: <b style="font-weight:bold;"> (701) 630-6500</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Not Applicable</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Former Name or Former Address, if Changed Since Last Report)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Securities registered or to be registered pursuant to Section 12(b) of the Act.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:33.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Title of each class</p></td><td style="vertical-align:top;width:27%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Trading Symbol(s)</p></td><td style="vertical-align:top;width:39.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Name of each exchange on which registered</p></td></tr><tr><td style="vertical-align:top;width:33.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">None</p></td><td style="vertical-align:top;width:27%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:top;width:39.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman';">&#9723;</font>&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman';">&#9723;</font>&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman';">&#9723;</font>&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman';">&#9723;</font>&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Emerging growth company &#9746;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">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 provided pursuant to Section 13(a) of the Exchange Act.&#160;<font style="font-family:'Times New Roman';">&#9723;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:0pt;margin:0pt;"><font style="font-size:0pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;">On June&#160;1, 2018, Lodging Fund REIT III, Inc. (the &#8220;Company&#8221;) commenced a private placement offering of up to $100,000,000 in shares of its common stock (the &#8220;Offering&#8221;). The Company is offering these securities in reliance upon exemptions from the registration requirements provided by Section&#160;4(2) of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) and Regulation&#160;D under the Securities Act relating to sales not involving any public offering. The securities are being offered and sold only to purchasers who are &#8220;accredited investors,&#8221; as defined in Rule&#160;501 of Regulation&#160;D of the Securities Act, and without the use of general solicitation, as that concept is embodied in Regulation&#160;D. In addition to sales of common stock for cash, the Company has adopted a dividend reinvestment plan (&#8220;DRIP&#8221;), which permits stockholders to reinvest their distributions back into the Company. Except as otherwise provided in the offering memorandum for Offering, the shares offered in the Offering for cash are being offered at an initial price of $10.00 per share, with shares issued pursuant to the DRIP being purchased at an initial price of $9.50 per share. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;">On June 15, 2020, the Operating Partnership commenced a private placement offering of limited partnership units in the OP, designated as Series GO LP Units, with a maximum offering of $20,000,000, which may be increased to $30,000,000 in the sole discretion of the General Partner, (the &#8220;GO Unit Offering&#8221;). The Operating Partnership is offering these securities in reliance upon exemptions from the registration requirements provided by Section&#160;4(2) of the Securities Act and Regulation&#160;D under the Securities Act relating to sales not involving any public offering. The securities are being offered and sold only to purchasers who are &#8220;accredited investors,&#8221; as defined in Rule&#160;501 of Regulation&#160;D of the Securities Act, and without the use of general solicitation, as that concept is embodied in Regulation&#160;D. Subject to restrictions on ownership in order to comply with rules governing real estate investment trusts and the terms of the partnership agreement of the Operating Partnership, each holder of Series GO LP Units (a &#8220;Series&#160;GO Limited Partner&#8221;) will have the right to exchange its Series&#160;GO LP Units for, at the option of the Operating Partnership, an equivalent number of shares of common stock of the Company (&#8220;Common Shares&#8221;), or cash equal to the fair market value of the Common Shares (the &#8220;Cash Amount&#8221;) which would have otherwise been received pursuant to such exchange. The exchange right is not available until all of the following have occurred (the &#8220;Exchange Date&#8221;): &#160;(i)&#160;the Common Shares are listed on a national securities exchange, the sale of all or substantially all of the GP Units and Interval Units held by the Company or any sale, exchange or merger of the Company or the Operating Partnership or, as determined in the sole discretion of the Company, the occurrence of a similar event; (ii)&#160;the Series&#160;GO Limited Partner has held its Series&#160;GO LP Units for at least one&#160;year; (iii)&#160;the Common Shares to be issued pursuant to the redemption have been registered with the SEC and the registration statement has been declared effective, or an exemption from registration is available; and (iv)&#160;the exchange does not result in a violation of the shareholder ownership limitations set forth in the Company&#8217;s articles of incorporation. Notwithstanding the above, the Company may waive any of the requirements above in its sole discretion other than (ii)&#160;or (iv).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;">During the period from January 1, 2021 to February 2, 2021, the Company issued and sold 134,629 shares of common stock, including 113,877 shares issued pursuant to the DRIP, and the Operating Partnership issued and sold 290,008 Series GO LP Units, and the Company and the Operating Partnership received aggregate proceeds of $3.3 million. During the period from January 1, 2021 to February 2, 2021, aggregate selling commissions of $13,226 and marketing and diligence allowances and other wholesale selling costs and expenses of $35,937 were paid in connection with the Offering. During the period from January 1, 2021 to February 2, 2021, aggregate selling commissions of $133,539 and marketing and diligence allowances and other wholesale selling costs and expenses of $40,004 were paid in connection with the GO Unit Offering. As of February 2, 2021, there were 7,810,472 shares of the Company&#8217;s common stock and 937,887 Series GO LP Units outstanding.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:38.15pt;margin:0pt;"><font style="background-color:#ffffff;visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:0pt;margin:0pt;"><font style="background-color:#ffffff;color:#000000;font-size:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">1</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">SIGNATURES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100.21%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:44.46%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:6.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:3.7%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:middle;width:45.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:middle;width:44.46%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:6.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:middle;width:49.12%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">LODGING FUND REIT III, INC.</b></p></td></tr><tr><td style="vertical-align:middle;width:44.46%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:6.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:middle;width:49.12%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:middle;width:44.46%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Dated: February 5, 2021</p></td><td style="vertical-align:middle;width:6.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:3.7%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">BY:</p></td><td style="vertical-align:middle;width:45.41%;border-bottom:1px solid #000000;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Corey R. Maple</p></td></tr><tr><td style="vertical-align:middle;width:44.46%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:6.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:3.7%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:45.41%;border-top:1px solid #000000;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Corey R. Maple</b></p></td></tr><tr><td style="vertical-align:middle;width:44.46%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:6.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:3.7%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:45.41%;margin:0pt;padding:1.5pt 0pt 0pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">Chairman of the Board, Chief Executive Officer and Secretary</i></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border-width:0;"></body></html>
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{"company-data": {"conformed-name": "Lodging Fund REIT III, Inc.", "cik": "0001745032", "assigned-sic": "6798", "irs-number": "830556111", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-56082", "film-number": "21596459"}, "business-address": {"street1": "1635 43RD STREET SOUTH, SUITE 205", "city": "FARGO", "state": "ND", "zip": "58103", "phone": "(701)630-6500"}, "mail-address": {"street1": "1635 43RD STREET SOUTH, SUITE 205", "city": "FARGO", "state": "ND", "zip": "58103"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
​
FORM 8-K
​
CURRENT REPORT
Pursuant to Section 13 or 15(
d
) of
The Securities Exchange Act of 1934
​
Date of Report (Date of earliest event reported): February 2, 2021
​
LODGING FUND REIT III, INC.
(Exact Name of Registrant as Specified in Charter)
​
​
​
​
Maryland
000-56082
83-0556111
(State or Other Jurisdiction of
Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
​
​
1635 43rd Street South, Suite 205
​
Fargo, North Dakota
58103
(Address of Principal Executive Offices)
(Zip Code)
​
Registrant's telephone number, including area code:
(701) 630-6500
​
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
​
Securities registered or to be registered pursuant to Section 12(b) of the Act.
​
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
N/A
N/A
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
​
◻
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
◻
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
◻
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
◻
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
​
Emerging growth company ☒
​
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 provided pursuant to Section 13(a) of the Exchange Act.
◻
​
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
​
On June 1, 2018, Lodging Fund REIT III, Inc. (the "Company") commenced a private placement offering of up to $100,000,000 in shares of its common stock (the "Offering"). The Company is offering these securities in reliance upon exemptions from the registration requirements provided by Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act") and Regulation D under the Securities Act relating to sales not involving any public offering. The securities are being offered and sold only to purchasers who are "accredited investors," as defined in Rule 501 of Regulation D of the Securities Act, and without the use of general solicitation, as that concept is embodied in Regulation D. In addition to sales of common stock for cash, the Company has adopted a dividend reinvestment plan ("DRIP"), which permits stockholders to reinvest their distributions back into the Company. Except as otherwise provided in the offering memorandum for Offering, the shares offered in the Offering for cash are being offered at an initial price of $10.00 per share, with shares issued pursuant to the DRIP being purchased at an initial price of $9.50 per share.
​
On June 15, 2020, the Operating Partnership commenced a private placement offering of limited partnership units in the OP, designated as Series GO LP Units, with a maximum offering of $20,000,000, which may be increased to $30,000,000 in the sole discretion of the General Partner, (the "GO Unit Offering"). The Operating Partnership is offering these securities in reliance upon exemptions from the registration requirements provided by Section 4(2) of the Securities Act and Regulation D under the Securities Act relating to sales not involving any public offering. The securities are being offered and sold only to purchasers who are "accredited investors," as defined in Rule 501 of Regulation D of the Securities Act, and without the use of general solicitation, as that concept is embodied in Regulation D. Subject to restrictions on ownership in order to comply with rules governing real estate investment trusts and the terms of the partnership agreement of the Operating Partnership, each holder of Series GO LP Units (a "Series GO Limited Partner") will have the right to exchange its Series GO LP Units for, at the option of the Operating Partnership, an equivalent number of shares of common stock of the Company ("Common Shares"), or cash equal to the fair market value of the Common Shares (the "Cash Amount") which would have otherwise been received pursuant to such exchange. The exchange right is not available until all of the following have occurred (the "Exchange Date"):  (i) the Common Shares are listed on a national securities exchange, the sale of all or substantially all of the GP Units and Interval Units held by the Company or any sale, exchange or merger of the Company or the Operating Partnership or, as determined in the sole discretion of the Company, the occurrence of a similar event; (ii) the Series GO Limited Partner has held its Series GO LP Units for at least one year; (iii) the Common Shares to be issued pursuant to the redemption have been registered with the SEC and the registration statement has been declared effective, or an exemption from registration is available; and (iv) the exchange does not result in a violation of the shareholder ownership limitations set forth in the Company's articles of incorporation. Notwithstanding the above, the Company may waive any of the requirements above in its sole discretion other than (ii) or (iv).
​
During the period from January 1, 2021 to February 2, 2021, the Company issued and sold 134,629 shares of common stock, including 113,877 shares issued pursuant to the DRIP, and the Operating Partnership issued and sold 290,008 Series GO LP Units, and the Company and the Operating Partnership received aggregate proceeds of $3.3 million. During the period from January 1, 2021 to February 2, 2021, aggregate selling commissions of $13,226 and marketing and diligence allowances and other wholesale selling costs and expenses of $35,937 were paid in connection with the Offering. During the period from January 1, 2021 to February 2, 2021, aggregate selling commissions of $133,539 and marketing and diligence allowances and other wholesale selling costs and expenses of $40,004 were paid in connection with the GO Unit Offering. As of February 2, 2021, there were 7,810,472 shares of the Company's common stock and 937,887 Series GO LP Units outstanding.
​
1
SIGNATURES
​
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
​
​
​
​
​
LODGING FUND REIT III, INC.
​
​
​
Dated: February 5, 2021
​
BY:
/s/ Corey R. Maple
​
​
​
Corey R. Maple
​
​
​
Chairman of the Board, Chief Executive Officer and Secretary
​
​