Boston, MA 04/10/2014 (wallstreetpr) – Ashford Hospitality Trust, Inc. (NYSE:AHT), an REIT (Real Estate Investment Trust), made an announcement on April 9, 2014, that the firm has priced the public offering on each of its share at $70.10. The public offering has been priced for 7.5 million shares of common stock of the firm. AHT has also put forward an opportunity for the underwriters of AHT. They have been granted with an option to buy additional shares on the firm’s common stock. The underwriters are allowed to purchase 1.125 million additional shares in a time period of 30 days.
Ashford Hospitality Trust, Inc. (NYSE:AHT) also made the announcement that the public offering will be completely subjected to customary conditions and its settlement will take place on April 14, 2014.
Offering details:
The public offering will be done on 7.5 million shares for $10.70 on each share. Ashford Hospitality Trust, Inc. (NYSE:AHT) is intending to use the total proceeds that the firm will be receiving through this public offering for some common corporate purposes such as capital expenditure, debt repayment, hotel related investments, working capital or for other obligations.
The book running managers for this proposed public offering will be Morgan Stanley, Deutsche Bank Securities and BofA Merrill Lynch.
KeyBanc capital Market, Stifel, Baird and Credit Suisse will be acting as the senior co-managers of the offering.
And Craig Hallum Capital group, MLV & company, JPM Securities and Cantor Fitzgerald & Co will be acting as the Co-managers of the public offering.
The Securities and Exchange Commission of the U.S. has already declared and filed a registration statement regarding the terms of the public offering and also for the book running managers, senior co-managers and co-managers. A copy of the public offering’s prospectus along with this registration statement will be made available to all the managers and the public offering will be conducted as per the terms and conditions mentioned in that prospectus.
