Hersha Hospitality Trust (NYSE: HT), owner of upscale hotels in urban gateway markets, today announced the commencement of a public offering of 22,000,000 common shares of beneficial interest, par value $.01 per share. Hersha intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 3,300,000 common shares. Hersha intends to use the net proceeds of the offering to repay outstanding indebtedness under its revolving line of credit and for general corporate purposes, including the funding of future acquisitions.
The joint book-running managers for the offering are BofA Merrill Lynch, Goldman, Sachs & Co., Raymond James and UBS Investment Bank.
A registration statement relating to these common shares has been filed with the U.S. Securities and Exchange Commission and is effective. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy Hersha’s securities, nor shall there be any sale of these securities or a solicitation of an offer to buy these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Offers for the securities will be made only by means of a prospectus supplement and accompanying prospectus forming part of the registration statement. A prospectus supplement and accompanying prospectus relating to these securities, when available, may be obtained from: BofA Merrill Lynch, Attn: Prospectus Department, 4 World Financial Center, New York, NY 10080 or email email@example.com; Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or email firstname.lastname@example.org; Raymond James, Attn: Prospectus Department, 880 Carillon Parkway, St. Petersburg, FL 33716 or email email@example.com or UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, New York 10171, telephone: 1-888-827-7275.
About Hersha Hospitality Trust
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts