Preferred Offering

Real Estate
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:

Steve Goldberg (703) 918-7808
Justin Glasgow (703) 821-5763
Real Estate
Preferred Offering
Date
October 2011
Company
Ashford Hospitality Trust, Inc.
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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