Chatham Lodging Trust (the “company”) (NYSE: CLDT) today announced that it is offering 3,250,000 common shares of beneficial interest, $0.01 par value per share, in a public offering. Barclays and UBS Investment Bank are acting as joint book-running managers for the offering. The underwriters will have a 30-day option to purchase up to an additional 487,500 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 the net proceeds of the offering to repay debt under the company’s senior secured revolving credit facility (including debt to be incurred to purchase the 180-room Hilton Garden Inn Denver Tech Center in Denver, Colorado for a cash purchase price of $27.9 million) and to fund a portion of the acquisition of the 231-room Residence Inn Seattle Bellevue/Downtown in Bellevue, Washington, for a cash purchase price of $73.2 million. 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 will be offered pursuant to a prospectus supplement to the company’s prospectus filed as part of 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. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering 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 22 hotels with an aggregate of 3,022 rooms/suites in twelve 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 LAUNCHED MAY IMPLY THAT THE OFFERING WILL PRICE AND CLOSE; BUT THE PRICING AND CLOSING OF THE OFFERING ARE SUBJECT TO CONDITIONS CUSTOMARY IN TRANSACTIONS OF THIS TYPE AND MAY BE DELAYED OR MAY NOT OCCUR AT ALL. 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.