2.48%XLF 16.78 5.73%QQQQ 33.41 4.16%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
PHILADELPHIA - Real estate investment trust Hersha Hospitality Trust said Monday it will sell 6 million shares in a public offering.
| HT | 5.84 |  -0.7 |
The company plans to use the net proceeds of the offering to repay outstanding debt under its revolving credit line.
The REIT, which focuses on mid-scale and upscale hotels, will also offer the underwriters an additional 900,000 shares to cover over-allotments, if any.
UBS Investment Bank and Raymond James & Associates Inc. are the joint book-running managers for the offering, Deutsche Bank Securities Inc. and Wachovia Capital Markets are the co-lead managers. Robert W. Baird & Co. Inc., JMP Securities LLC and Stifel, Nicolaus & Company Inc. are the co-managers for the offering.
Hersha Hospitality shares fell 33 cents, or 3.3 percent, to $9.70 in aftermarket electronic trading, from their close in the regular session at $10.03.
David Duchovny "successfully" completed his treatment against sex addi...
Tyler Perry made history on Saturday night by becoming the first African-America...
Getting the financial rescue through Congress may have been the easy part. Getti...
Professional Website Design For Corporate - Get a Free Quote Today
Partners  
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
