Service Properties Trust (NASDAQ: SVC) announced the pricing of its underwritten public offering of 416.7 million common shares at $1.20 per share. The real estate investment trust expects gross proceeds of $500 million before underwriting discounts and other expenses.

The offering is expected to settle on or about April 2, 2026. Underwriters received a 30-day option to purchase up to an additional 62.5 million common shares.

SVC plans to use net proceeds from the offering, combined with cash on hand, to redeem all or part of its outstanding senior notes. The company has $100 million in 4.95% senior notes due 2027 and $450 million in 5.50% senior notes due 2027.

Yorkville Securities serves as lead bookrunner and Jones acts as bookrunning manager for the offering. B. Riley Securities, Oppenheimer & Co., Ladenburg Thalmann and Siebert are co-managers.

The Newton, Massachusetts-based REIT owns approximately $10 billion in assets across two categories: service-focused retail net lease properties and hotels. As of December 31, 2025, SVC owned 760 retail properties with over 13.6 million square feet and 94 hotels with more than 21,000 guest rooms in the United States, Puerto Rico and Canada.

The RMR Group (NASDAQ: RMR) manages SVC. The alternative asset management company oversees over $37 billion in assets under management as of December 31, 2025.

The offering proceeds under SVC's effective shelf registration statement filed with the Securities and Exchange Commission.