Hersha Hospitality Trust - Current report filing (8-K)
May 15 2008 - 1:14PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): May 15,
2008 (May 13, 2008)
HERSHA HOSPITALITY TRUST
(Exact name of registrant
as specified in its charter)
Maryland
|
|
001-14765
|
|
251811499
|
(State or other jurisdiction
of incorporation)
|
|
(Commission File Number)
|
|
(IRS Employer
Identification No.)
|
44 Hersha Drive
Harrisburg, Pennsylvania
17102
(Address and zip code of
principal executive offices)
Registrants telephone number, including area code:
(717) 236-4400
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see
General Instructions A.2. below):
o
|
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
|
|
o
|
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
|
|
o
|
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
|
|
|
|
o
|
|
Pre-commencement
communications pursuant to Rule 13e4(c) under the Exchange Act (17
CFR 240.13e-4(c))
|
Item
1.01.
Entry
Into a Material Definitive Agreement.
On
May 13, 2008, Hersha Hospitality Trust, a Maryland real estate investment
trust (the Company) and Hersha Hospitality Limited Partnership, the Companys
operating partnership (the Operating Partnership), entered into an
underwriting agreement with UBS Securities LLC and Raymond James &
Associates, Inc., as representatives of the underwriters named in the
underwriting agreement. Pursuant to the terms of the underwriting agreement,
the Company agreed to sell, and the underwriters agreed to purchase, subject to
the terms and conditions set forth in the underwriting agreement, 6,000,000 of
the Companys common shares at a public offering price of $9.90 per share (the Offering).
In addition, the Company granted to the underwriters a 30-day option to
purchase an additional 900,000 of the Companys common shares to cover
over-allotments, if any. The net proceeds of the Offering after deducting
underwriting discounts, commissions and estimated offering expenses, and before
giving effect to the over-allotment option, will be approximately $56.2
million. The underwriting agreement contains customary representations,
warranties and agreements of the Company, conditions to closing,
indemnification rights and obligations of the parties and termination
provisions.
The
preceding description is qualified in its entirety by reference to the
underwriting agreement, a copy of which is attached hereto as
Exhibit 1.1
to this Current Report on Form 8-K and is incorporated herein by
reference.
Item 9.01
Financial Statements
and Exhibits.
(d)
Exhibits.
1.1 Underwriting Agreement,
dated May 13, 2008.
8.1 Opinion of Hunton &
Williams LLP with respect to tax matters.
23.1 Consent of Hunton &
Williams LLP (included in Exhibit 8.1).
2
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
|
HERSHA HOSPITALITY TRUST
|
|
|
|
|
|
|
Date: May 15, 2008
|
By:
|
/s/Ashish
R. Parikh
|
|
|
Ashish
R. Parikh
|
|
|
Chief
Financial Officer
|
3
Hersha Hospitality (NYSE:HT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hersha Hospitality (NYSE:HT)
Historical Stock Chart
From Jul 2023 to Jul 2024