LaSalle Hotel Properties Announces the Sale of 1,140,000 Additional Common Shares Pursuant to the Underwriters' Option
December 22 2014 - 4:52PM
Business Wire
LaSalle Hotel Properties (NYSE:LHO) today announced that the
underwriters of its recent follow-on public offering of common
shares have exercised in full their option to purchase an
additional 1,140,000 common shares, bringing the total number of
shares to be issued in this offering to 8,740,000 common
shares.
Barclays, Deutsche Bank Securities and Morgan Stanley served as
the underwriters for the offering. A copy of the prospectus
supplement and prospectus relating to these securities may be
obtained by contacting (a) Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
email: Barclaysprospectus@broadridge.com, Telephone, (888)
603-5847, (b) Deutsche Bank Securities Inc., 60 Wall Street, New
York, New York 10005, Attention: Prospectus Group, Telephone (800)
503-4611 or email at prospectus.cpdg@db.com, (c) Morgan Stanley
& Co. LLC, c/o Morgan Stanley Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014 or (d) the Internet site of
the Securities and Exchange Commission at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any state. The offering may be made only by
means of the prospectus and related prospectus supplement.
LaSalle Hotel Properties is a leading multi-operator real estate
investment trust. The Company owns 45 hotels. The properties are
upscale, full-service hotels, totaling more than 11,300 guest rooms
in 14 markets in ten states and the District of Columbia. The
Company focuses on owning, redeveloping and repositioning upscale,
full-service hotels located in urban, resort and convention
markets. LaSalle Hotel Properties seeks to grow through strategic
relationships with premier lodging companies, including Westin
Hotels and Resorts, Hilton Hotels Corporation, Outrigger Lodging
Services, Noble House Hotels & Resorts, Hyatt Hotels
Corporation, Benchmark Hospitality, White Lodging Services
Corporation, Commune Hotels and Resorts, Davidson Hotel Company,
Denihan Hospitality Group, the Kimpton Hotel & Restaurant
Group, LLC, Accor, Destination Hotels & Resorts, HEI Hotels
& Resorts, JRK Hotel Group, Inc., Viceroy Hotel Group, Highgate
Hotels and Access Hotels & Resorts.
This press release, together with other statements and
information publicly disseminated by the Company, contain certain
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. The Company intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Forward-looking statements, which are based on certain
assumptions and describe the Company's future plans, strategies and
expectations, are generally identifiable by use of the words
“will,” "believe," "expect," "intend," "anticipate," "estimate,"
"project" or similar expressions. You should not rely on
forward-looking statements since they involve known and unknown
risks, uncertainties and other factors that are, in some cases,
beyond the Company's control and which could materially affect
actual results, performances or achievements. Factors that may
cause actual results to differ materially from current expectations
include, but are not limited to, (i) risks associated with the
hotel industry, including competition, increases in wages, energy
costs and other operating costs, potential unionization, actual or
threatened terrorist attacks, any type of flu or disease-related
pandemic and downturns in general and local economic conditions,
(ii) the availability and terms of financing and capital and the
general volatility of securities markets, (iii) the Company's
dependence on third-party managers of its hotels, including its
inability to implement strategic business decisions directly, (iv)
risks associated with the real estate industry, including
environmental contamination and costs of complying with the
Americans with Disabilities Act of 1990, as amended, and similar
laws, (v) interest rate increases, (vi) the possible failure of the
Company to maintain its qualification as a REIT and the risk of
changes in laws affecting REITs, (vii) the possibility of uninsured
losses, (viii) risks associated with redevelopment and
repositioning projects, including delays and cost overruns and (ix)
the risk factors discussed in the Company’s Annual Report on Form
10-K as updated in its Quarterly Reports. Accordingly, there is no
assurance that the Company's expectations will be realized. Except
as otherwise required by the federal securities laws, the Company
disclaims any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in the Company’s
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
LaSalle Hotel PropertiesBruce Riggins or Kenneth
Fuller301-941-1500
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