Deal Details
Preferred Offering
Summary
Baird served as a book-running manager in this offering
About
Ashford 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:
- Date
- October 2011
- Company
- Ashford Hospitality Trust, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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