Hospitality Properties Trust (HPT) Prices 11M Share Stock Offering

August 16, 2016 5:51 AM EDT

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Hospitality Properties Trust (Nasdaq: HPT) today announced that it has priced a public offering of 11,000,000 common shares at a price to the public of $30.75 per common share. The settlement of this offering is expected to occur on August 19, 2016. HPT expects to use the proceeds of this offering to repay amounts outstanding under its unsecured revolving credit facility and for general business purposes. The underwriters have been granted a 30-day option to purchase up to an additional 1,650,000 common shares.

The joint bookrunning managers for this offering are Citigroup, BofA Merrill Lynch and Morgan Stanley. The joint lead managers for this offering are Jefferies, RBC Capital Markets and UBS Investment Bank. The co-managers of this offering are Baird, BB&T Capital Markets, Cannacord Genuity, Cantor Fitzgerald & Co., D.A. Davidson & Co., FBR, Janney Montgomery Scott, JMP Securities and Oppenheimer & Co.

This press release is neither an offer to sell nor a solicitation of an offer to buy shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The prospectus supplement relating to this offering and related prospectus will be filed with the Securities and Exchange Commission (SEC) and copies can be obtained by contacting the offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, email: dg.prospectus_requests@baml.com; or Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.



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