Stifel Raises Price Target on Extended Stay America (STAY) to $15; Reiterates Hold
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Extended Stay America Announces Pricing of Secondary Offering and Repurchase of Paired Shares
November 14, 2016 7:57 PM ESTCHARLOTTE, N.C.--(BUSINESS WIRE)-- Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE: STAY) (together, the Company) today announced the pricing of the underwritten secondary offering (the offering) of 12,750,000 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... More
Extended Stay America Announces Secondary Offering and Repurchase of Paired Shares
November 14, 2016 4:34 PM ESTCHARLOTTE, N.C.--(BUSINESS WIRE)-- Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE: STAY) (together, the Company) today announced an underwritten secondary offering (the offering) of 12,750,000 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, by certain selling stockholders affiliated with Centerbridge Partners, L.P., Paulson & Co. Inc. and The Blackstone Group L.P. (the Selling Stockholders).
The Company will not sell any... More