logo
Share SHARE
FONT-SIZE Plus   Neg

Strategic Hotels & Resorts Announces Pricing For Common Shares Offering

Strategic Hotels & Resorts Inc (BEE) 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

Quick Facts

Editors Pick
Applications for home mortgages in the U.S. declined last week on a seasonally adjusted basis as purchase and refinancing applications waned, shows data by the Mortgage Bankers Association. In strict adherence to the policy that 'drinking and driving are incompatible,' Anheuser Busch InBev has fired its head of operations in Germany. International fashion house Guess?, Inc. said Tuesday after the markets closed that it swung to a first quarter profit, as better costs control helped offset an 8.4% drop in revenue. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade BEE now with 
Follow RTT