FelCor Prices Public Offering of Common Stock
29 Março 2011 - 10:22AM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that it priced its public offering of 24 million shares of its
common stock (the "Offering") at $6.00 per share. FelCor granted
the underwriters a 30-day option to purchase up to 3.6 million
additional shares of common stock.
BofA Merrill Lynch, J.P. Morgan, Citi, Deutsche Bank Securities,
and Goldman, Sachs & Co., acted as joint book-running managers
for the offering. Credit Suisse and Scotia Capital acted as
co-managers.
FelCor estimates that the net proceeds from the Offering, after
underwriting discounts and commissions, will be approximately
$138.2 million (approximately $159.0 million if the underwriters'
option to purchase additional shares is exercised in full). FelCor
intends to use the net proceeds from the Offering for a pending
acquisition. Pending application of the net proceeds, FelCor may
use the net proceeds for general corporate purposes and may also
invest such net proceeds in short-term, interest-bearing
investments or to repay borrowings under its line of credit.
The offering is being made pursuant to FelCor’s effective shelf
registration statement previously filed with the Securities and
Exchange Commission, and the Offering is expected to close on April
1, 2011, subject to customary closing conditions. Copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to these securities may be obtained from: BofA Merrill
Lynch, Attn: Prospectus Department, 4 World Financial Center, New
York, NY 10080 or e-mail at dg.prospectus_requests@baml.com; from
J.P. Morgan Securities LLC, Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 or (866) 803-9204; or by
visiting the EDGAR database on the SEC's web site at
www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase these securities, and shall
not constitute an offer, solicitation or sale in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
With the exception of historical information, the matters
discussed in this news release include “forward-looking statements”
within the meaning of the federal securities laws. Forward-looking
statements are not guarantees of future performance. Numerous risks
and uncertainties, and the occurrence of future events, may cause
actual results to differ materially from those currently
anticipated. Certain of these risks and uncertainties are described
in greater detail in our filings with the Securities and Exchange
Commission. Although we believe our current expectations to be
based upon reasonable assumptions, we can give no assurance that
our expectations will be attained or that actual results will not
differ materially. We undertake no obligation to update any
forward-looking statement to conform the statement to actual
results or changes in our expectations.
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