Chatham Lodging Trust Launches Public Offering of Common Shares
PALM BEACH, Fla. -- June 12, 2013
Chatham Lodging Trust (the “company”) (NYSE: CLDT) today announced that it is
offering 4.5 million common shares of beneficial interest, $0.01 par value per
share, in a public offering. Barclays and UBS Investment Bank are acting as
joint book-running managers for the offering.
The underwriters will have a 30-day option to purchase up to an additional
675,000 shares to cover overallotments, if any.
The company will contribute the net proceeds of this offering to its operating
partnership in exchange for common units of limited partnership interest in
the operating partnership. The company’s operating partnership intends to use
a portion of the net proceeds of the offering to repay debt under the
company’s senior secured revolving credit facility and to fund the acquisition
of the 178-room Hyatt Place^® Pittsburgh/North Shore in Pittsburgh, Pa. The
company’s operating partnership intends to use any remaining net proceeds to
invest in additional hotel properties in accordance with the company’s
investment strategy and for general corporate purposes.
The common shares will be offered under the company’s existing shelf
registration statement which was declared effective by the Securities and
Exchange Commission on February 10, 2012. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these 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. A
copy of the prospectus can be obtained by contacting Barclays c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Barclaysprospectus@broadridge.com, (888) 603-5847 or by contacting UBS
Investment Bank, Attention: Prospectus Dept., 299 Park Avenue, New York, NY
10171, (888) 827-7275.
About Chatham Lodging Trust
Chatham Lodging Trust is a self-advised real estate investment trust that was
organized to invest in upscale extended-stay hotels and premium-branded
select-service hotels. The company currently owns 20 hotels with an aggregate
of 2,733 rooms/suites in eleven states and the District of Columbia.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL
SECURITIES LAWS. THESE FORWARD-LOOKING STATEMENTS ARE BASED UPON THE COMPANY'S
PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR. FOR
EXAMPLE: THE FACT THAT THIS OFFERING HAS LAUNCHED MAY IMPLY THAT THE OFFERING
WILL PRICE AND CLOSE; BUT THE PRICING AND CLOSING OF THE OFFERING ARE SUBJECT
TO CONDITIONS CUSTOMARY IN TRANSACTIONS OF THIS TYPE AND MAY BE DELAYED OR MAY
NOT OCCUR AT ALL. STATEMENTS CONTAINING WORDS SUCH AS “EXPECTS,” “BELIEVES” OR
“WILL,” WHICH INDICATE THAT THOSE STATEMENTS ARE FORWARD-LOOKING. EXCEPT FOR
HISTORICAL INFORMATION, THE MATTERS DISCUSSED IN THIS PRESS RELEASE ARE
FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES
THAT COULD CAUSE THE ACTUAL RESULTS OR PERFORMANCE TO DIFFER MATERIALLY FROM
THOSE DISCUSSED IN SUCH STATEMENTS. ADDITIONAL RISKS ARE DISCUSSED IN THE
COMPANY’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. INVESTORS
SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD-LOOKING STATEMENTS.
Daly Gray Public Relations
Jerry Daly, 703-435-6293
Chatham Lodging Trust
Dennis Craven, 561-227-1386
Chief Financial Officer
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