Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Strategic Hotels & Resorts Announces Pricing For Common Shares Offering

RELATED NEWS
Trade BEE now with 

Strategic Hotels & Resorts Inc (BEE: Quote) Wednesday announced that it has priced the underwritten public offering of 16.0 million shares of its common stock at $6.50 per share.

The company has granted the underwriters an option to purchase up to 2.4 million additional shares of common stock to cover over-allotments, if any.

Deutsche Bank Securities and Raymond James & Associates, Inc .have been selected to act as joint book-running managers for the Offering.

The Company intends to use the net proceeds from the Offering for general corporate purposes which might include reducing its debt obligations.

The company further added that the Offering is expected to close on April 23, 2012, subject to customary closing conditions.

Click here to receive FREE breaking news email alerts for Strategic Hotels & Resorts, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The European Central Bank left its key interest rates unchanged at a record low, after reducing them in a surprise move last month, as economic momentum in the euro area remains subdued. The Governing Council, led by President Mario Draghi, held the refinancing rate at a record low 0.05 percent following its policy meeting in Naples, Italy on Thursday. Hector Beltran Leyva, one of Mexico's most-wanted drug lords, was arrested on Wednesday. Mexican special forces captured Hector as he dined at a seafood restaurant in the city of San Miguel de Allende, a popular hub of foreigners and artists in the central state of Guanajuato. Federal criminal investigations chief Tomas Zeron told the media that no shots were fired in the operation, which culminat Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.