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

Editors Pick
Stocks have moved mostly higher over the course of the trading day on Monday, extending the strong upward move that was seen last Friday. The major averages are currently turning in a mixed performance, however, with a steep drop by shares of IBM (IBM) weighing on the Dow. While Republicans have largely tried to frame the upcoming midterm elections as a referendum on President Barack Obama, Sen. Ted Cruz, R-Tex., has joined the few offering guidance on what the GOP will do if it manages to retake control of the Senate. The World Health Organization (WHO) Monday declared that Nigeria is officially free of Ebola virus transmission. For the last six weeks, no new cases of the deadly virus infection has been reported in the country. The lines on the tabular situation reports, sent to WHO each day by its country office in Nigeria, have now been full of zeros for 42 days. If two incubation periods of 21 days pass
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.