Chatham Lodging Trust (NYSE: CLDT) today announced that it has priced its public offering of 4,500,000 common shares of beneficial interest, $0.01 par value per share, at $16.35 per share, for total gross proceeds of $73,575,000, prior to underwriting discounts and offering expenses. The offering is expected to close on June 18, 2013. The underwriters have a 30-day option to purchase up to an additional 675,000 shares to cover overallotments, if any. 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 repay debt under the company’s senior secured revolving credit facility and to fund the acquisition of the 178-room Hyatt Place ® Pittsburgh/North Shore in Pittsburgh, Pennsylvania. The company’s operating partnership intends to use any remaining net proceeds to invest in additional hotel properties in accordance with the company’s investment strategy and for general corporate purposes. The common shares were offered under the company’s existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on February 10, 2012. 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. Barclays and UBS Investment Bank are acting as joint book-running managers for the offering, and Stifel and FBR Capital Markets are acting as senior co-managers. Baird, Credit Agricole CIB, JMP Securities, Piper Jaffray and SunTrust Robinson Humphrey are acting as co-managers. A copy of the prospectus can be obtained by contacting Barclays c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Barclaysprospectus@broadridge.com, (888) 603-5847 or by contacting UBS Investment Bank, Attention: Prospectus Dept., 299 Park Avenue, New York, NY 10171, (888) 827-7275. About Chatham Lodging Trust Chatham Lodging Trust is a self-advised real estate investment trust that was organized to invest in upscale extended-stay hotels and premium-branded select-service hotels. The company currently owns 20 hotels with an aggregate of 2,733 rooms/suites in eleven 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 OVERALLOTMENT OPTION 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.