Chesapeake Lodging Trust Announces Redemption of 7.75% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest
May 22 2017 - 9:00AM
Business Wire
Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”), today
notified holders of record (the “Notice of Redemption”) of the
Trust’s 7.75% Series A Cumulative Redeemable Preferred Shares of
Beneficial Interest (the “Series A Preferred Shares”) of the
redemption of all of the issued and outstanding Series A Preferred
Shares. The cash redemption amount (the “Redemption Amount”) for
each Series A Preferred Share is $25.00, plus an amount equal to
all accrued and unpaid dividends to, but not including, the
redemption date of July 17, 2017 (the “Redemption Date”). The
Redemption Amount will be payable in cash, without interest, on the
Redemption Date.
On the Redemption Date, dividends on the Series A Preferred
Shares will cease to accrue and trading of the Series A Preferred
Shares will be delisted from the New York Stock Exchange (NYSE:
CHSP PrA).
The Notice of Redemption and related materials will be mailed to
holders of record of the Series A Preferred Shares. Payment of the
Redemption Amount will be made upon presentation and surrender of
the Series A Preferred Shares to American Stock Transfer &
Trust Company, LLC, the Trust’s redemption agent. Questions
relating to the Notice of Redemption and related materials should
be directed to American Stock Transfer & Trust Company, LLC at
(800) 937-5449.
ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate
investment trust (REIT) focused on investments primarily in
upper-upscale hotels in major business and convention markets and,
on a selective basis, premium select-service hotels in urban
settings or unique locations in the United States. The Trust owns
22 hotels with an aggregate of 6,694 rooms in nine states and the
District of Columbia. Additional information can be found on the
Trust’s website at www.chesapeakelodgingtrust.com.
Note: This press release contains statements that are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are generally identifiable by
use of forward-looking terminology such as "may," "will," "should,"
"potential," "intend," "expect," "seek," "anticipate," "estimate,"
"approximately," "believe," "could," "project," "predict,"
"forecast," "continue," "plan," "likely," "would," or other similar
words or expressions. These forward-looking statements relate to
the mailing of the Notice of Redemption and to the redemption of
the Series A Preferred Shares. These forward-looking statements are
subject to various risks and uncertainties, not all of which are
known to the Trust and many of which are beyond the Trust’s
control, which could cause actual results to differ materially from
such statements. These risks and uncertainties include, but are not
limited to, the state of the U.S. economy, supply and demand in the
hotel industry and other factors as are described in greater detail
in the Trust’s filings with the Securities and Exchange Commission
(“SEC”). Unless legally required, the Trust disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise. For
information about the Trust’s business and financial results,
please refer to the “Management's Discussion and Analysis of
Financial Condition and Results of Operations” and “Risk Factors”
sections of the Trust’s Annual Report on Form 10-K for the year
ended December 31, 2016, filed with the SEC, and its quarterly and
other periodic filings with the SEC. The Trust undertakes no duty
to update the statements in this release to conform the statements
to actual results or changes in the Trust’s expectations.
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version on businesswire.com: http://www.businesswire.com/news/home/20170522005314/en/
Chesapeake Lodging TrustDouglas W. Vicari, 571-349-9452
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