Pebblebrook Hotel Trust Announces 4.5M Share Public Offering of Common Shares
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced the commencement of a public offering of 4,500,000 common shares of beneficial interest, par value $0.01 per share. The Company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 675,000 common shares. The common shares will be offered pursuant to the Company's effective registration statement that was previously filed with the Securities and Exchange Commission.
The Company will contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general corporate purposes, which may include acquiring and investing in hotel properties in accordance with the Company's investment strategy and reducing the Company's debt.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.