logo
Share SHARE
FONT-SIZE Plus   Neg

Strategic Hotels & Resorts Announces Pricing For Common Shares Offering

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Comcast Corp found itself in an unsavory situation after a customer's name on a bill was changed from Ricardo to 'A**hole', ostensibly by a disgruntled employee who tried to get the customer to retain her current cable service and sign a two-year contract. Blockbuster sales of big-screen iPhones during the holiday quarter has helped tech giant Apple Inc. (AAPL) to tie with Samsung to become the world's largest smartphone vendor. Both Apple and Samsung sold 74.5 million smartphones during the December quarter, according to research firm Strategy Analytics.... Toyota Motor Sales, U.S.A., Inc., a unit of Japanese auto giant Toyota Motor Corp. (TYT.L, TM), said it is recalling 52,000 - 2011-2012 Avalon sedans in the U.S. due to a wiring problem that increases risk of fire. The company says cargo in trunk of the affected cars could contact one of the audio...
comments powered by Disqus
RELATED NEWS
Trade BEE now with 
Follow RTT