This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stock Offerings: DiamondRock

NEW YORK ( TheStreet) -- DiamondRock Hospitality (DRH - Get Report) shares dropped Tuesday after the premium hotel real-estate owner priced a common stock offering at a 9.1% discount to Monday's closing price.

DiamondRock Hospitality said it is offering 20 million shares of common stock at a price of $8.40 per share. Underwriters have been granted a 30-day option to purchase up to an additional 3 million shares to cover over-allotments, if any.

On Monday, DiamondRock said it has agreed to buy Hilton Minneapolis hotel for $152 million. The company will also make a $3.5 million payment to pay off the existing mortgage on the hotel.

DiamondRock shares closed Monday at $9.24 and were down 11.3% to $8.20 in Tuesday's premarket session following the announcement.

Elsewhere, Wabash National (WNC - Get Report) said it has priced an offering of 11.75 million shares of common stock at $6.50 per share. Additionally, private equity fund Trailer Investments is selling 12.5 million shares at $6.50 per share.

Wabash National said the net proceeds from its offering will be used to redeem all of its outstanding preferred stock, to repay a portion of its outstanding indebtedness under its revolving credit facility, and to use any remaining net proceeds for general corporate purposes. Wabash will not receive any proceeds from the sale of shares by Trailer Investments.

Wabash shares were down 34 cents, or 5%, to $6.42 in Tuesday's premarket session.

Meanwhile, Northern Oil & Gas (NOG - Get Report) filed late Monday a mixed shelf offering for an indeterminate amount. The company said it may offer from time to time shares of our common stock, senior debt securities, subordinated debt securities, warrants, stock purchase contracts, or stock purchase units.

Northern Oil & Gas shares closed Monday at $12.58.

USA Truck (USAK - Get Report) also filed a notice with the Securities and Exchange Commission late Monday, saying the company and any selling stockholders may sell up to $80 million of shares of common stock. USA Truck said it will not receive any proceeds from the sale of shares of our common stock by the selling stockholders.

USA Truck shares finished Monday's session at $15.56.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DRH $11.09 0.00%
NOG $5.00 0.00%
USAK $20.46 0.00%
WNC $12.78 0.00%
AAPL $117.81 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs