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Chesapeake Lodging Trust Completes Public Offering Of Common Shares


Wednesday, 6 Feb 2013 10:36am EST 

Chesapeake Lodging Trust announced that it has completed its public offering of 8,337,500 common shares, including 1,087,500 shares sold pursuant to the full exercise by the underwriters of their option to purchase additional shares. Through the offering, the Trust raised approximately $165.8 million of net proceeds, after deducting the underwriting discount and other estimated offering costs.J.P. Morgan, Deutsche Bank Securities, Wells Fargo Securities and RBC Capital Markets acted as joint book-running managers for the offering. Baird, KeyBanc Capital Markets, and JMP Securities acted as co-managers for the offering.The Trust intends to use the net proceeds of the offering to repay outstanding borrowings under its revolving credit facility, invest in future acquisitions of hotels, and for general corporate purposes. 

Company Quote

37.61
0.68 +1.84%
22 Dec 2014