logo
Plus   Neg
Share
Email
Comment

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
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT