Chesapeake Lodging (CHSP) Announces 6.25M Unit Offering

January 31, 2013 4:35 PM EST
Chesapeake Lodging Trust (NYSE: CHSP) 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.

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