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HPT Proposes 15M Common Shares Public Offering

Jun 18, 2009 | Reprints | Unlock Link | Print

Newton REIT Hospitality Properties Trust has commenced a proposed public offering of 15 million common shares.

HPT said it expects to use the net proceeds to repay debt and for general business purposes. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 2.3 million shares to cover over allotments, if any.

Morgan Stanley, Citi and Wachovia Securities are the bookrunning managers for this offering.

Commercial & Industrial