Ashford Hospitality Trust Prices Follow-on Offering of 42.5 Million Shares of Common Stock
April 19 2007 - 8:00AM
Business Wire
Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced it has
priced a follow-on public offering of 42,500,000 shares of common
stock at $11.75 per share. The closing of the offering is scheduled
for April 24, 2007. The company granted an over-allotment option to
the underwriters for an additional 6,375,000 shares of common
stock. Wachovia Securities, Merrill Lynch & Co. and Morgan
Stanley & Co. Incorporated acted as 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. acted as
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 final 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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