Baird served as the sole underwriter on this offering.
AboutAshford Hospitality Trust, Inc. (“Ashford Trust” or the “Company”) (NYSE: AHT) recently completed a follow-on offering of 10,529,450 shares of common stock at a price of $10.65 per share, generating gross proceeds of approximately $112.1 million. The Company intends to use the net proceeds from the offering to fund a portion of the cost of its pending acquisitions of the Memphis Marriott East hotel, the Lakeway Resort & Spa and its joint venture partner’s interest in PIM Highland JV and, any remaining funds, for general corporate purposes, including, without limitation, hotel-related investments, capital expenditures, working capital, and repayment of debt or other obligations.
Ashford Hospitality Trust, Inc., together with its subsidiaries, is a real estate investment trust (“REIT”) focused on investing in the hospitality industry across all segments and in all methods including direct real estate, securities, equity and debt. As of September 30, 2014, Ashford Trust had a majority interest in 88 hotel properties and a minority interest in 38 hotel properties. The Company’s hotels are primarily operated under the widely recognized upper upscale brands such as Hilton, Hyatt, Marriott and Sheraton. All of the Company’s hotels are located in the United States and are managed by third party property managers. Ashford Trust is headquartered in Dallas, Texas.
For additional information about this transaction, please contact:
- February 2015
- Ashford Hospitality Trust, Inc.
- Real Estate
- Target Geography
- North America