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Chatham Lodging Trust Launches Public Offering of Common Shares


Wednesday, 12 Jun 2013 04:25pm EDT 

Chatham Lodging Trust announced that it is offering 4.5 million common shares of beneficial interest, $0.01 par value per share, in a public offering. Barclays and UBS Investment Bank are acting as joint book-running managers for the offering. The company will contribute the net proceeds of this offering to its operating partnership in exchange for common units of limited partnership interest in the operating partnership. The company`s operating partnership intends to use a portion of the net proceeds of the offering to repay debt under the company`s senior secured revolving credit facility and to fund the acquisition of the 178-room Hyatt Place Pittsburgh/North Shore in Pittsburgh, Pa. The company`s operating partnership intends to use any remaining net proceeds to invest in additional hotel properties in accordance with the company`s investment strategy and for general corporate purposes. 

Company Quote

22.33
0.22 +1.00%
16 Sep 2014