DiamondRock Hospitality (DRH) Prices 15.5M Shares at $4.85
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DiamondRock Hospitality Company (NYSE: DRH) announced pricing of its public offering of 15,500,000 shares of its common stock at a price of $4.85 per share.
Merrill Lynch & Co. and Wachovia Securities are acting as joint book running managers for the offering. ABN AMRO Incorporated, Citi, FBR Capital Markets & Co., Goldman, Sachs & Co., J.P. Morgan and KeyBanc Capital Markets are acting as co-managers.
The underwriters have been granted a 30-day option to purchase up to an additional 2,325,000 shares of common stock to cover over allotments if any.
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