PALM BEACH, FLORIDA Chatham Lodging Trust, a hotel REIT focused on upscale extended-stay hotels and premium-branded select-service hotels, is commencing an underwritten public offering of 7 million common shares.
The company expects to grant the underwriters a 30-day option to purchase up to 1.05 million additional common shares to cover overallotments, if any. Chatham intends to use the net proceeds of the offering to repay debt under its secured revolving credit facility, to acquire additional hotels and for general business purposes.
Barclays Capital and UBS Investment Bank are acting as the joint book-running managers for the offering. FBR Capital Markets is acting as the joint lead manager and Morgan Keegan & Company Inc., Credit Agricole CIB, Piper Jaffray, Stifel Nicolaus Weisel and JMP Securities are acting as co-managers. A copy of the prospectus can be obtained by contacting Barclays Capital, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y. 11717, telephone (888) 603-5847 or by e-mail at barclaysprospectus@broadridge.com, or UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, N.Y. 10171 or by telephone at (888) 827-7275.