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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, December 5, 6:43 AM

Slide #180. Summit Hotel Properties, Inc. Preferred Stock Offering

Company: Summit Hotel Properties, Inc. (NYSE:INN)
Date announced: 11/2/2017
Shares Offered: 6,400,000
Date of Pricing: 11/2/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") announced today that it has priced an underwritten public offering of 6,400,000 shares of its 6.25% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock") at a public offering price of $25.00 per share, for gross proceeds of $160 million. The offering is expected to close on November 13, 2017, subject to customary closing conditions.

Summit Hotel Properties is a real estate investment trust and a self-managed hotel investment holding company. Substantially all of Co.'s assets are held by, and all of its operations are conducted through, its operating partnership, Summit Hotel OP, LP (the Operating Partnership). Through a wholly-owned subsidiary, Co. is the sole general partner of the Operating Partnership. Co. focuses on owning primarily select-service hotels. All of Co.'s guestrooms are operated under franchise brands owned by Marriott® International, Inc., Hilton® Worldwide, Hyatt® Hotels Corporation and InterContinental® Hotels Group.

Preferreds: INN.PRA, INN.PRB, INN.PRC, INN.PRD, INN.PRE


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Name: 
Summit Hotel Properties Inc
Website: 
www.shpreit.com
Sector: 
REITs
Number of ETFs Holding INN: 
48 (see which ones)
Total Market Value Held by ETFs: 
$239,893,760.75
Total Market Capitalization: 
$953,000,000
% of Market Cap. Held by ETFs: 
25.17%
 

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