Market Overview

Summit Hotel Properties Prices 13M Share Offering at $9.00/Share

Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today
announced the pricing of its public offering of 15,000,000 shares of its
common stock, par value $0.01 per share, an upsize over the previously
announced 13,000,000 share offering, at a public offering price of $9.00
per share, for total net proceeds of approximately $128.8 million, after
deducting the underwriting discount and other estimated offering
expenses payable by the Company.

The underwriters have a 30-day option to purchase up to an additional
2,250,000 shares of common stock. Subject to customary closing
conditions, the offering is expected to close on or about January 14,
2013.

The Company will contribute the net

See full press release

Posted-In: News Guidance Management Global

 

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