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: Pebblebrook Hotel

BOSTON ( TheStreet) -- Pebblebrook Hotel Trust (PEB - Get Report) shares slipped at the start of Friday's trading session after the hotel investment company priced an offering of common shares below the previous session's closing price.

Pebblebrook Hotel said priced its public offering of 17 million common shares of beneficial interest at a price of $17 per share, slightly below Thursday's closing price of $17.09. Underwriters have a 30-day option to purchase up to an additional 2.55 million shares to cover overallotments.

A total of approximately $276.6 million of net proceeds will be contributed to Pebblebrook's operating partnership, which will use the proceeds to invest in hotel properties.

Pebblebrook Hotel Trust shares were lately down by a penny to $17.08. More than 1.5 million shares changed hands about 30 minutes into Friday's trading session, compared to the average daily share volume of 182,000.

Elsewhere, Apache (APA - Get Report) said it has priced its offering of 23 million shares of common stock at $88 per share. Apache said it also sold 22 million depositary shares for $1.1 billion. Underwriters were given a 30-day option to purchase up to 3.45 million additional shares of its common stock and up to 3.3 million additional depositary shares.

Apache said late Tuesday that it would offer 21 million shares of common stock as well as $1.1 billion of mandatory convertible preferred stock consisting of 22 million depositary shares. The offerings announcement came after Apache said it will buy $7 billion of assets in North America and Egypt from BP (BP).

Shares of Apache were climbing by 1.9% to $90.99.

Lightbridge (LTBR - Get Report) shares dropped by 13.7% to $6.60 after the nuclear energy company said it will sell $13.7 million of its common stock and warrants through a registered direct offering with institutional investors, with proceeds to be used to fund continued work on the company's nuclear fuel design business.

Lightbridge said it will sell approximately 2.07 million shares of its common stock at $6.60 per share. In addition, warrants to purchase about 1.03 million shares of its common stock at an exercise price of $9 per share will be issued to the investors.

On the other hand, First Place Financial (FPFC) said it has withdrawn its registration statement, filed in June 2010, to sell approximately $80 million of common shares due to unfavorable market conditions. The announcement came as First Place Financial said it had a fiscal fourth-quarter net loss of $11.9 million. Shares were lately down 0.4% to $2.74.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of on Facebook.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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
APA $52.26 -3.70%
LTBR $0.44 3.70%
PEB $27.62 -1.40%
AAPL $93.99 0.37%
FB $118.09 -0.40%


Chart of I:DJI
DOW 17,708.51 -182.65 -1.02%
S&P 500 2,060.14 -21.29 -1.02%
NASDAQ 4,765.0240 -52.57 -1.09%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs