Baird served as a book-running manager in this offering
AboutAshford Hospitality Trust, Inc. (“Ashford” or the “Company”) (NYSE: AHT) recently completed a follow-on offering of 1,280,000 shares of its existing 9.00% Series E Cumulative Preferred Stock (the “Shares”) at a price of $23.47 per share including accrued dividends, generating gross proceeds of approximately $30 million. At pricing, the Shares equate to a yield of 9.59%. Ashford intends to use the net proceeds from the offering for general corporate purposes, including 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.
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.
For additional information about this transaction, please contact:
- October 2011
- Ashford Hospitality Trust, Inc.
- Real Estate
- Target Location
- North America