Host Hotels & Resorts, Inc. Announces Common Stock Offering
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Host Hotels & Resorts, Inc. Announces Common Stock Offering
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Category: Worldwide - Industry economy -
Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2009-04-24
Host Hotels & Resorts, Inc. (NYSE:HST) announced that it has commenced an underwritten public offering of 60,000,000 shares of its common stock. The joint book-running managers for this offering are Merrill Lynch & Co. and Deutsche Bank Securities. The underwriters will be granted a 30-day option to purchase up to an additional 9,000,000 shares of common stock to cover over-allotments, if any.
The Company intends to use the net proceeds from the offering for general corporate purposes and the repayment of indebtedness.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on November 25, 2008. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
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