Chesapeake Lodging Trust Announces Proposed Public Offering of 6,250,000
ANNAPOLIS, Md. -- January 31, 2013
Chesapeake Lodging Trust (NYSE: CHSP) (the “Trust”) announced today that it is
commencing an underwritten public offering of 6,250,000 common shares. J.P.
Morgan, Deutsche Bank Securities, Wells Fargo Securities and RBC Capital
Markets will act as book-running managers for the offering. The Trust expects
to grant the underwriters a 30-day option to purchase up to an additional
937,500 common shares.
The Trust intends to use the net proceeds of the offering to repay outstanding
borrowings under its revolving credit facility, invest in future acquisitions
of hotels, and for general corporate purposes.
A registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission. The offering will be made
only by means of a preliminary prospectus supplement and prospectus related to
the offering, copies of which may be obtained, when available, by contacting
J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204;
Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New
York, NY 10005-2836, by calling 1-800-503-4611, or by emailing
firstname.lastname@example.org; 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 email@example.com; or RBC Capital
Markets, LLC, Attention: Equity Syndicate, Three World Financial Center, 200
Vesey Street, 8th floor, New York, New York 10281-8098, or by calling (877)
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of any
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
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 15 hotels with an aggregate of 4,722 rooms in seven
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 timing of the offering, amount of shares to be
offered and 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
Chesapeake Lodging Trust
Douglas W. Vicari, 410-972-4142
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