TravelCenters of America (TA) Announces Proposed $75M Share Common Offering

TravelCenters of America Inc. (NASDAQ: TA) today announced that it has commenced a public offering of $75 million of shares of its common stock. TA intends to use the net proceeds from the offering to fund deferred maintenance and other capital expenditures necessary to enhance property conditions and implement growth initiatives, for working capital, and for general corporate purposes. TA also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount of up to 15 percent of the number of shares sold in the offering.

The joint book-running managers for the offering are Citigroup, BMO Capital Markets, B. Riley FBR and BTIG.

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