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Chatham Lodging Trust Prices Public Offering of Common Shares

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Chatham Lodging Trust (the “Company”) (NYSE:CLDT) today announced that it has priced its public offering of 6,000,000 common shares of beneficial interest, $0.01 par value per share, at a price to the public of $21.85 for total gross proceeds of $131,100,000, prior to underwriting discounts and offering expenses. The offering is expected to close on September 24, 2014, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 900,000 common shares.

Barclays, BofA Merrill Lynch and UBS Investment Bank are acting as joint book-running managers for the offering, and Baird, Credit Agricole CIB, Piper Jaffray and Stifel are acting as senior co-managers. FBR, JMP Securities and SunTrust Robinson Humphrey are acting as co-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 pay down borrowings under the Company’s senior secured revolving credit facility. The Company’s operating partnership intends to use the remaining net proceeds to invest in additional hotel properties in accordance with the Company’s investment strategy, including its equity contribution towards the purchase price for the previously announced acquisition of a 52-hotel portfolio by the Company’s joint venture with NorthStar Realty Finance Corp. from Inland American Real Estate Trust, Inc. and the potential acquisition of 4 hotels (included within the 52-hotel portfolio the joint venture is purchasing) on which the Company expects to have an option to purchase pursuant to a non-binding letter of intent with NorthStar Realty Finance Corp., and for general business purposes, including renovations and upgrades of guest rooms and common areas at certain of its hotels. The Company’s operating partnership intends to use any additional remaining net proceeds for general corporate purposes.

The common shares are being offered pursuant to a prospectus supplement to the Company’s prospectus filed as part of the Company’s existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on January 30, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the prospectus supplement and accompanying prospectus relating to the offering can be obtained, when available, by contacting Barclays c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Barclaysprospectus@broadridge.com, (888) 603-5847; BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department, or by emailing dg.prospectus_requests@baml.com; or UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171 or by calling (888) 827-7275.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised real estate investment trust that invests in upscale extended-stay hotels and premium-branded select-service hotels. The company currently owns 30 hotels with an aggregate of 4,540 rooms/suites in fifteen states and the District of Columbia.

FORWARD-LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD-LOOKING STATEMENTS ARE BASED UPON THE COMPANY’S PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR. FOR EXAMPLE: THE FACT THAT THIS OFFERING HAS PRICED MAY IMPLY THAT THE OFFERING WILL CLOSE, BUT THE CLOSING IS SUBJECT TO CONDITIONS CUSTOMARY IN TRANSACTIONS OF THIS TYPE AND MAY BE DELAYED OR MAY NOT OCCUR AT ALL. IN ADDITION, THE FACT THAT THE UNDERWRITERS HAVE AN OPTION TO PURCHASE ADDITIONAL SHARES MAY IMPLY THAT THIS OPTION WILL BE EXERCISED. HOWEVER, THE UNDERWRITERS ARE NOT UNDER ANY OBLIGATION TO EXERCISE THIS OPTION, OR ANY PORTION OF IT, AND MAY NOT DO SO. STATEMENTS CONTAINING WORDS SUCH AS “EXPECTS,” “BELIEVES” OR “WILL,” WHICH INDICATE THAT THOSE STATEMENTS ARE FORWARD-LOOKING. EXCEPT FOR HISTORICAL INFORMATION, THE MATTERS DISCUSSED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE THE ACTUAL RESULTS OR PERFORMANCE TO DIFFER MATERIALLY FROM THOSE DISCUSSED IN SUCH STATEMENTS. ADDITIONAL RISKS ARE DISCUSSED IN THE COMPANY’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD-LOOKING STATEMENTS.

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