Ashford Hospitality Trust Announces Offering of 6M Shares of Common Stock
Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that it commenced an underwritten public offering of 6.0 million shares of its common stock.
Ashford intends to use the net proceeds to repay its outstanding borrowings under its senior credit facility, for general corporate purposes, including, without limitation, financing future hotel-related investments, capital expenditures and working capital or repayment of other debt or obligations. Ashford will grant the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any.
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