Chesapeake Lodging Trust Prices IPO
January 22, 2010 07:03 AM Eastern Time
FAIRFIELD, N.J.--(EON: Enhanced Online News)--Chesapeake Lodging Trust (the “Company”) today announced it has priced i
offering of 7,500,000 common shares of beneficial interest, $0.01 par value per share, at $20 per share.
The offering is expected to close on January 27, 2010. The underwriters have a 30-day option to purchase up to an additional 1,12
cover overallotments, if any. All the shares are being offered by the Company.
Concurrent with the closing of the offering, the Company expects to raise additional proceeds through private placements to Hyatt
BAMCO, Inc. and certain of its executive officers and trustees on the terms described in the prospectus relating to the offering.
The Company will contribute the net proceeds of the offering and concurrent private placements to its operating partnership, which
proceeds to invest in upper upscale hotel properties in accordance with the Company’s investment strategy and for general business
The Company’s common shares are scheduled to begin trading on January 22, 2010 on the New York Stock Exchange under the
J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. FBR Cap
Co. is acting as lead-manager. KeyBanc Capital Markets Inc., Robert W. Baird & Co. Incorporated, RBC Capital Markets and J
acting as co-managers. Hogan & Hartson LLP is serving as legal counsel to Chesapeake Lodging Trust. Clifford Chance US LLP i
counsel to the underwriters.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 2
press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in an
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of
jurisdiction. The offering is being made solely by m