Summit Hotel (INN) Prices Larger 15M Common Offering at $9/Share

Summit Hotel Properties, Inc. (NYSE: INN) announced the pricing of its public offering of 15,000,000 shares of its common stock, par value $0.01 per share, an upsize over the previously announced 13,000,000 share offering, at a public offering price of $9.00 per share, for total net proceeds of approximately $128.8 million, after deducting the underwriting discount and other estimated offering expenses payable by the Company.

The underwriters have a 30-day option to purchase up to an additional 2,250,000 shares of common stock. Subject to customary closing conditions, the offering is expected to close on or about January 14, 2013.

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