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Hospitality Properties Trust (HPT) announced that it priced a public offering of 8,500,000 common shares at a price to the public of $28.00 per share. The settlement of this offering is expected to occur on Wednesday, November 13, 2013. HPT expects to use the net proceeds of this offering to repay amounts outstanding under its unsecured revolving credit facility and for general business purposes. The underwriters have been granted a 30-day option to purchase up to an additional 1,275,000 common shares.
The joint book-running managers for the common share offering are Citigroup, BofA Merrill Lynch and Morgan Stanley. The co-lead managers are Jefferies, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities. The co-managers are Baird, BB&T Capital Markets, Janney Montgomery Scott, JMP Securities, MLV & Co., and Oppenheimer & Co.
This press release is neither an offer to sell nor a solicitation of an offer to buy HPT common shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The prospectus supplement relating to this offering and related prospectus are expected to be filed with the Securities and Exchange Commission (SEC) and copies may be obtained by contacting the offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, email: dg.prospectusrequests@baml.com; or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2ndFloor, New York, NY 10014, telephone: (866) 718-1649, email: prospectus@morganstanley.com.