Newton-based REIT Hospitality Properties Trust (HPT) will launch a public share offering this week, with 14 million common shares at $25.55. The settlement of this offering is expected to occur on March 22.
HPT expects to use the net proceeds of this offering to repay unsecured debt and for general business purposes. The underwriters have been granted a 30-day option to purchase up to an additional 2.1 million common shares.
The joint bookrunning managers for the common share offering are Morgan Stanley, Bank of America, Merrill Lynch and Wells Fargo Securities. The joint co-lead managers are Citigroup, Jefferies, RBC Capital Markets and UBS Investment Bank. The co-managers are BB&T Capital Markets, Janney Montgomery Scott, JMP Securities, MLV & Co., Inc. and Oppenheimer & Co. Inc.





