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RLJ Lodging Trust Announces Exercise Of Underwriters’ Option To Purchase Additional Shares And Subsequent Closing Of Public Offering Of Common Shares


Monday, 25 Mar 2013 04:11pm EDT 

RLJ Lodging Trust announced the completion of its underwritten public offering of 15,870,000 common shares of beneficial interest at a public offering price of $21.60 per share. The total shares sold include 2,070,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional common shares. Net proceeds from the public offering after deducting the underwriting discount and other estimated offering costs are approximately $327.6 million. 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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