Extended Stay America (STAY) Announces 13M Paired Shares Secondary Offering; Will Repurchase Shares
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Extended Stay America (STAY) Prices 13M Common Paired Shares Secondary Offering at $14.25/Share
September 30, 2016 6:15 AM EDTExtended Stay America, Inc. and ESH Hospitality, Inc. (NYSE: STAY) announced the pricing of the underwritten secondary offering (the offering) of 13,000,000 Paired Shares, each Paired Share consisting of a share of common stock of Extended Stay America, Inc. and a share of Class B common stock of ESH Hospitality, Inc., which are attached and trade together as Paired Shares. The Paired Shares were offered by certain selling stockholders affiliated with Centerbridge Partners, L.P., Paulson & Co. Inc. and The Blackstone Group L.P. (the Selling Stockholders) and were sold at a price to the public of... More
