Hersha Hospitality Trust Announces Public Offering of 22M Shares
Hersha Hospitality Trust (NYSE: HT) today announced the commencement of a public offering of 22,000,000 common shares of beneficial interest, par value $.01 per share. Hersha intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 3,300,000 common shares. Hersha intends to use the net proceeds of the offering to repay outstanding indebtedness under its revolving line of credit and for general corporate purposes, including the funding of future acquisitions.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.