Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 10:42 PM
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Slide #507. LaSalle Hotel Properties — Preferred Stock Offering
LaSalle Hotel Properties (LHO)
Date of Over-Allotment Closing:
Final Completed Deal Size:
Preferred Stock Offering Details:
LaSalle Hotel Properties (NYSE:LHO) today announced that it has priced an underwritten public offering of 4,000,000 6.375% Series I Cumulative Redeemable Preferred Shares at a price of $25.00 per share for gross proceeds of $100 million. The Company granted the underwriters a 30-day option to purchase up to an additional 600,000 Series I Preferred Shares to cover over-allotments, if any. The offering is expected to close on March 4, 2013, subject to customary closing conditions. --updated 3/12 - LaSalle Hotel Properties (NYSE:LHO) today announced that the underwriters of its recent public offering of 6.375% Series I Cumulative Redeemable Preferred Shares have exercised their option to purchase an additional 400,000 Series I Preferred Shares, bringing the total number of shares issued in this offering to 4,400,000 Series I Preferred Shares.
LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust. Co. primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com