Ashford Hospitality Trust Announces Partial Exercise Of Underwriters' Option
DALLAS, July 25, 2013 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford" or the "Company") today announced the Company's underwriters have exercised in part their option to purchase additional shares of common stock in connection with its previously announced offering of common stock. The underwriters exercised their option to purchase an additional 1,250,782 shares of common stock from the Company at a price of $12.00 per share less the underwriting discount, dividend and other costs. In total, the Company sold 12,250,782 shares of common stock.
BofA Merrill Lynch, Deutsche Bank Securities and Morgan Stanley acted as the joint book-running managers for the offering. KeyBanc Capital Markets, Credit Agricole CIB and Credit Suisse acted as senior co-managers, and Baird, Stifel, Cantor Fitzgerald & Co., JMP Securities, and MLV & Co. acted as co-managers.
A registration statement relating to the shares became effective upon filing with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor will there be any sale of such shares or any other securities in any state or other jurisdiction which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
The offering was made only by means of a prospectus supplement and accompanying base prospectus forming part of the registration statement. Copies of the final prospectus supplement and base prospectus related to the offering may be obtained from BofA Merrill Lynch by contacting 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or email: email@example.com, Deutsche Bank Securities by contacting 60 Wall Street, New York, NY 10005-2836, Attention: Prospectus Group, or email: firstname.lastname@example.org, Morgan Stanley by contacting 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or email: email@example.com, or on the internet site of the Securities and Exchange Commission at www.sec.gov.
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry across all segments and at all levels of the capital structure primarily within the United States.
Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford's control.
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: general volatility of the capital markets and the market price of our common stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Ashford's filings with the Securities and Exchange Commission.
The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise.
SOURCE Ashford Hospitality Trust, Inc.