NEW YORK (
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.
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.
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.
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.
Northern Oil & Gas
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.
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
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