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RLJ Lodging Trust Announces Pricing Of Upsized Public Offering Of 13.8 Million Common Shares

Wednesday, 20 Mar 2013 09:15am EDT 

RLJ Lodging Trust announced it has priced an underwritten public offering of 13,800,000 common shares of beneficial interest at a public offering price of $21.60 per share, for net proceeds of approximately $284.8 million, after deducting the underwriting discount and other estimated offering costs. The offering was upsized from an original amount of 11,500,000 shares to the final offering size of 13,800,000 shares. The Company also granted the underwriters of the offering a 30-day option to purchase up to an additional 2,070,000 common shares. The offering is expected to close on or about March 25, 2013, subject to customary closing conditions. The Company intends to use the net proceeds from the offering to fund potential acquisitions and for general corporate purposes, and may use net proceeds to repay amounts outstanding from time to time under its unsecured revolving credit facility. 

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