ANNAPOLIS, Md.--(BUSINESS WIRE)--Sep. 18, 2012--
Chesapeake Lodging Trust (NYSE: CHSP) (the “Trust”) announced today that
it has completed its public offering of 7,475,000 common shares,
including 975,000 shares sold pursuant to the underwriters’ option to
purchase additional shares. Through the offering, the Trust raised
approximately $132.5 million of net proceeds, after deducting the
underwriting discount and other estimated offering expenses payable by
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells
Fargo Securities, LLC acted as the joint book-running managers for the
offering. Robert W. Baird & Co. Incorporated, KeyBanc Capital Markets
Inc., RBC Capital Markets, LLC, and JMP Securities LLC acted as
co-managers for the offering.
The Trust intends to use the net proceeds of the offering to repay
outstanding borrowings under its revolving credit facility and for
general corporate purposes, including the acquisition of hotels.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Trust's common shares, nor
shall there be any sale of the common shares in any state in which such
offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state.
Copies of the prospectus supplement and the related prospectus for the
offering may be obtained from Deutsche Bank Securities Inc., Attn:
Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling
1-800-503-4611, or by emailing email@example.com;
J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, or by calling
1-866-803-9204; or Wells Fargo Securities, LLC, Attention: Equity
Syndicate Dept., 375 Park Avenue, New York, New York 10152, or by
calling (800) 326-5897, or by e-mail at firstname.lastname@example.org.
ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate
investment trust (REIT) focused on investments primarily in
upper-upscale hotels in major business and convention markets and, on a
selective basis, premium select-service hotels in urban settings or
unique locations in the United States. The Trust owns 14 hotels with an
aggregate of 4,465 rooms in six states and the District of Columbia.
Additional information can be found on the Trust’s website at www.chesapeakelodgingtrust.com.
Certain statements and assumptions in this press release contain or
are based upon "forward-looking" information and are being made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties. When we use the words "will likely result,"
"may," "anticipate," "estimate," "should," "expect," "believe,"
"intend," or similar expressions, we intend to identify forward-looking
statements. Such forward-looking statements include, but are not limited
to, the contemplated use of proceeds. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
Chesapeake Lodging Trust's control. The Trust undertakes no obligation
to publicly release the result of any revisions to these forward-looking
statements that may be made to reflect any future events or
circumstances, except as required by law.
Source: Chesapeake Lodging Trust
Chesapeake Lodging Trust
Douglas W. Vicari, 410-972-4142