DALLAS, Oct. 11, 2011 /PRNewswire/ -- Ashford Hospitality
Trust, Inc. (NYSE: AHT) today announced that it is commencing,
subject to market conditions, an underwritten public offering of
its existing 9.00% Series E Cumulative Preferred Stock. The
offering is being made pursuant to an effective registration
statement filed with the Securities and Exchange Commission.
Ashford intends to use the net proceeds from this offering for
general corporate purposes, including, without limitation,
repayment of debt or other maturing obligations, financing future
hotel-related investments, capital expenditures and working
capital. Net proceeds may also be used for repurchasing shares of
common stock under Ashford's repurchase program.
Stifel, Nicolaus & Company, Incorporated and Robert W. Baird
& Co. Incorporated are acting as the joint book-running
managers for the offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the offered shares or any other
securities, nor will there be any sale of such shares or any other
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or other
jurisdiction.
Copies of the preliminary prospectus supplement, final
prospectus supplement (when available) and the related base
prospectus may be obtained from (a) Stifel, Nicolaus & Company,
Incorporated, One South Street, 15th
Floor, Baltimore, MD 21202,
Attention: Syndicate Department, (b) Robert W. Baird & Co.
Incorporated, Syndicate Department, 777 E. Wisconsin Avenue,
Milwaukee, WI 53202, or (c)
the Internet site of the Securities and Exchange Commission at
www.sec.gov.
About Ashford Hospitality Trust
Ashford is a self-administered real estate investment trust
focused on investing in the hospitality industry across all
segments and at all levels of the capital structure.
Forward-Looking Statements
Certain statements and assumptions in this press
release contain or are based upon
"forward-looking" information and are being
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and
uncertainties. When we use the words "will
likely result," "may,"
"anticipate," "estimate,"
"should," "expect,"
"believe," "intend," or similar
expressions, we intend to identify forward-looking statements.
Such forward-looking statements include, but are not
limited to, the timing for closing, the impact of the
transaction on our business and future financial condition, our
business and investment strategy, our understanding of our
competition and current market trends and opportunities and
projected capital expenditures. Such statements are subject
to numerous assumptions and uncertainties, many of which are
outside Ashford's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: general volatility of the capital markets
and the market price of our common stock; changes
in our business or investment strategy; availability,
terms and deployment of capital; availability of qualified
personnel; changes in our industry and the market in
which we operate, interest rates or the general
economy; and the degree and nature of our
competition. These and other risk factors are
more fully discussed in Ashford's filings with the
Securities and Exchange Commission.
The forward-looking statements included in this press
release are only made as of the date of this press release.
Investors should not place undue reliance on these
forward-looking statements. We are not obligated to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or circumstances,
changes in expectations or otherwise.
SOURCE Ashford Hospitality Trust, Inc.