Ashford Hospitality Trust Commences Follow-on Offering of 37.5 Million Shares of Common Stock
April 13 2007 - 6:30AM
Business Wire
Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced it has
commenced a follow-on public offering of 37,500,000 shares of
common stock. The company expects to grant an over-allotment option
to the underwriters for an additional 5,625,000 shares of common
stock. Wachovia Securities, Merrill Lynch & Co. and Morgan
Stanley & Co. Incorporated are the joint book-running managers
of the offering. Banc of America Securities LLC, Friedman Billings
Ramsey, UBS Investment Bank, Robert W. Baird & Co., Calyon
Securities (USA) Inc., JMP Securities, KeyBanc Capital Markets, RBC
Capital Markets, Stifel Nicolaus, Davenport & Company LLC, and
Morgan Keegan & Company, Inc. are co-managers. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy any common stock nor shall there be any sale of
such common stock in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state. A copy of the prospectus
supplement and prospectus related to the offering may be obtained
from Wachovia Capital Markets, LLC, 375 Park Avenue, 4th Floor, New
York, NY 10152, Attention: Equity Syndicate Department; Merrill
Lynch & Co., 250 Vesey Street, New York, NY 10080; or Morgan
Stanley & Co. Incorporated, 180 Varick Street, New York, NY
10014, Attn: Prospectus Department. Ashford Hospitality Trust 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, including direct hotel investments, first
mortgages, mezzanine loans and sale-leaseback transactions.
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